Magna International Inc. $MGA Stake Reduced by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. trimmed its holdings in Magna International Inc. (NYSE:MGA) (TSE:MG) by 5.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,014,237 shares of the company’s stock after selling 116,325 shares during the quarter. TD Waterhouse Canada Inc. owned 0.76% of Magna International worth $128,028,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Oslo Pensjonsforsikring AS bought a new position in shares of Magna International during the 1st quarter valued at about $45,000. Versant Capital Management Inc raised its holdings in shares of Magna International by 53.9% in the 3rd quarter. Versant Capital Management Inc now owns 1,171 shares of the company’s stock worth $75,000 after purchasing an additional 410 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Magna International by 115.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,675 shares of the company’s stock worth $93,000 after purchasing an additional 896 shares in the last quarter. Camelot Portfolios LLC acquired a new stake in Magna International during the second quarter valued at approximately $211,000. Finally, Parallel Advisors LLC lifted its stake in Magna International by 9.1% during the first quarter. Parallel Advisors LLC now owns 3,299 shares of the company’s stock valued at $184,000 after purchasing an additional 275 shares during the last quarter. 67.49% of the stock is owned by institutional investors and hedge funds.

Magna International Trading Down 0.7%

NYSE MGA traded down $0.44 on Friday, hitting $65.97. 1,630,175 shares of the company were exchanged, compared to its average volume of 1,038,042. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.88. Magna International Inc. has a twelve month low of $44.35 and a twelve month high of $73.22. The firm has a market capitalization of $17.47 billion, a P/E ratio of 23.90, a price-to-earnings-growth ratio of 0.71 and a beta of 1.46. The company’s 50 day moving average price is $66.19 and its 200-day moving average price is $64.49.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, July 31st. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.33. The company had revenue of $10.84 billion during the quarter, compared to analyst estimates of $10.63 billion. Magna International had a net margin of 1.80% and a return on equity of 15.04%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.44 earnings per share. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. Analysts predict that Magna International Inc. will post 7.05 earnings per share for the current fiscal year.

Magna International Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Magna International from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Wall Street Zen cut Magna International from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 12th. Weiss Ratings upgraded Magna International from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 29th. BMO Capital Markets reiterated a “market perform” rating and set a $70.00 price objective (down from $76.00) on shares of Magna International in a research report on Friday, September 18th. Finally, Morgan Stanley reduced their price objective on Magna International from $69.00 to $68.00 and set an “equal weight” rating for the company in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Magna International has a consensus rating of “Hold” and an average price target of $69.13.

Magna International Profile

Magna International Inc is a Canadian global automotive supplier that designs, engineers and manufactures systems and components for automakers. Its product portfolio includes vehicle body and exterior systems, seating, powertrain and drivetrain components, electronics, lighting, mirrors, roof systems and advanced driver-assistance technologies.

The company also provides complete vehicle engineering and manufacturing services, supporting automakers from product development through assembly.