Mufg Securities Canada LTD. Sells 10,669 Shares of Magna International Inc. $MGA

Mufg Securities Canada LTD. decreased its position in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 2.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 438,294 shares of the company’s stock after selling 10,669 shares during the quarter. Mufg Securities Canada LTD. owned approximately 0.16% of Magna International worth $20,764,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in MGA. ARGA Investment Management LP lifted its stake in Magna International by 33.2% in the third quarter. ARGA Investment Management LP now owns 4,148,133 shares of the company’s stock worth $196,557,000 after acquiring an additional 1,033,747 shares during the period. Hillsdale Investment Management Inc. purchased a new stake in Magna International during the third quarter worth $33,593,000. Geode Capital Management LLC boosted its position in Magna International by 20.2% during the 2nd quarter. Geode Capital Management LLC now owns 2,015,407 shares of the company’s stock valued at $77,332,000 after acquiring an additional 338,470 shares in the last quarter. AGF Management Ltd. purchased a new position in shares of Magna International in the 3rd quarter valued at $14,191,000. Finally, Mediolanum International Funds Ltd purchased a new position in shares of Magna International in the 2nd quarter valued at $4,618,000. 67.49% of the stock is currently owned by institutional investors.

Magna International Stock Down 1.8%

Magna International stock opened at $62.97 on Friday. The stock has a market capitalization of $17.56 billion, a PE ratio of 21.34 and a beta of 1.50. The business has a 50 day simple moving average of $56.87 and a 200-day simple moving average of $50.70. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.25 and a quick ratio of 0.87. Magna International Inc. has a 12 month low of $30.39 and a 12 month high of $69.94.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, February 13th. The company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.37. Magna International had a net margin of 1.99% and a return on equity of 12.73%. The company had revenue of $10.74 billion during the quarter, compared to analysts’ expectations of $10.54 billion. During the same period in the prior year, the business posted $1.69 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. On average, analysts anticipate that Magna International Inc. will post 5.87 EPS for the current fiscal year.

Magna International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be issued a $0.495 dividend. This represents a $1.98 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, February 27th. This is a positive change from Magna International’s previous quarterly dividend of $0.49. Magna International’s payout ratio is presently 65.76%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MGA shares. BMO Capital Markets upped their price objective on Magna International from $49.00 to $52.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. JPMorgan Chase & Co. increased their price target on shares of Magna International from $53.00 to $57.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Wells Fargo & Company raised their price target on shares of Magna International from $50.00 to $58.00 and gave the company an “equal weight” rating in a report on Monday, January 12th. Scotiabank boosted their price objective on shares of Magna International from $57.00 to $69.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 17th. Finally, Royal Bank Of Canada increased their target price on shares of Magna International from $48.00 to $59.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 17th. Four analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Magna International presently has a consensus rating of “Hold” and a consensus price target of $61.73.

About Magna International

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.