Magna International Inc. $MGA Stock Bought by QV Investors Inc.

QV Investors Inc. boosted its position in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 33.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 739,472 shares of the company’s stock after purchasing an additional 184,631 shares during the period. Magna International makes up 3.5% of QV Investors Inc.’s holdings, making the stock its 8th largest holding. QV Investors Inc.’s holdings in Magna International were worth $47,220,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MGA. TD Waterhouse Canada Inc. lifted its stake in Magna International by 10.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 2,130,562 shares of the company’s stock worth $134,577,000 after purchasing an additional 206,433 shares in the last quarter. Amundi boosted its holdings in shares of Magna International by 4.2% in the 2nd quarter. Amundi now owns 1,781,357 shares of the company’s stock worth $117,778,000 after purchasing an additional 71,927 shares in the last quarter. Hillsdale Investment Management Inc. increased its position in shares of Magna International by 14.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 832,575 shares of the company’s stock valued at $46,486,000 after purchasing an additional 107,150 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Magna International during the 2nd quarter valued at about $28,495,000. Finally, Triasima Portfolio Management inc. raised its holdings in shares of Magna International by 51.9% during the 3rd quarter. Triasima Portfolio Management inc. now owns 194,740 shares of the company’s stock valued at $12,435,000 after buying an additional 66,500 shares in the last quarter. Institutional investors own 67.49% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on MGA. Scotiabank boosted their target price on Magna International from $74.00 to $78.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 3rd. Weiss Ratings raised Magna International from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 29th. UBS Group increased their price target on shares of Magna International from $62.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Wall Street Zen downgraded shares of Magna International from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 12th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $72.00 price target (down from $77.00) on shares of Magna International in a research note on Tuesday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $69.13.

Magna International Stock Up 1.5%

Shares of Magna International stock opened at $66.38 on Wednesday. The company’s 50 day moving average price is $66.03 and its 200-day moving average price is $64.71. Magna International Inc. has a 52-week low of $44.64 and a 52-week high of $73.22. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.88 and a current ratio of 1.22. The stock has a market capitalization of $17.58 billion, a price-to-earnings ratio of 24.05, a P/E/G ratio of 0.70 and a beta of 1.46.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, July 31st. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.33. The firm had revenue of $10.84 billion for the quarter, compared to analysts’ expectations of $10.63 billion. Magna International had a net margin of 1.80% and a return on equity of 15.04%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.44 earnings per share. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. Equities research analysts forecast that Magna International Inc. will post 7.02 EPS for the current year.

Magna International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a dividend of $0.4950 per share. This represents a $1.98 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Friday, August 14th. Magna International’s payout ratio is currently 71.74%.

About Magna International

Magna International Inc is a global automotive supplier headquartered in Aurora, Ontario, Canada. The company designs, engineers and manufactures components and systems for automakers, serving vehicle manufacturers across North America, Europe and Asia.

Its products and services span several automotive categories, including body and chassis structures, exterior systems, powertrain and driveline components, seating, vehicle electronics, lighting, mirrors, and advanced driver assistance technologies.