Geode Capital Management LLC Raises Position in Magna International Inc. $MGA

Geode Capital Management LLC lifted its stake in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 6.8% in the 4th quarter, HoldingsChannel reports. The firm owned 2,426,843 shares of the company’s stock after buying an additional 154,710 shares during the quarter. Geode Capital Management LLC’s holdings in Magna International were worth $128,774,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. ARGA Investment Management LP grew its stake in Magna International by 1.1% in the 4th quarter. ARGA Investment Management LP now owns 4,193,129 shares of the company’s stock valued at $223,512,000 after buying an additional 44,996 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new position in Magna International during the 3rd quarter valued at about $33,593,000. Quantbot Technologies LP grew its holdings in Magna International by 65.5% during the 3rd quarter. Quantbot Technologies LP now owns 199,899 shares of the company’s stock valued at $9,471,000 after buying an additional 79,133 shares in the last quarter. Achmea Investment Management B.V. bought a new position in Magna International in the 3rd quarter valued at $8,606,000. Finally, Leuthold Group LLC grew its position in shares of Magna International by 26.6% during the 4th quarter. Leuthold Group LLC now owns 147,172 shares of the company’s stock valued at $7,844,000 after purchasing an additional 30,893 shares in the last quarter. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

Magna International Price Performance

Shares of MGA opened at $68.23 on Friday. The company has a market capitalization of $18.57 billion, a P/E ratio of 28.55, a price-to-earnings-growth ratio of 0.92 and a beta of 1.43. The company has a quick ratio of 0.88, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. The firm has a 50 day moving average of $60.72 and a 200 day moving average of $57.03. Magna International Inc. has a twelve month low of $35.86 and a twelve month high of $69.94.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, May 1st. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.37. The company had revenue of $10.13 billion during the quarter, compared to the consensus estimate of $10.14 billion. Magna International had a net margin of 1.60% and a return on equity of 14.01%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.78 earnings per share. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. As a group, equities research analysts anticipate that Magna International Inc. will post 6.87 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Friday, May 15th. Magna International’s payout ratio is 82.85%.

Analysts Set New Price Targets

A number of research firms have recently commented on MGA. TD Securities boosted their price target on shares of Magna International from $58.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Scotiabank upgraded shares of Magna International from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $69.00 to $72.00 in a research report on Friday, April 24th. Raymond James Financial upped their price target on shares of Magna International from $50.00 to $75.00 and gave the company a “market perform” rating in a research report on Tuesday, February 17th. Morgan Stanley upped their price objective on shares of Magna International from $54.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 18th. Finally, The Goldman Sachs Group lowered their price objective on shares of Magna International from $60.00 to $52.00 and set a “sell” rating for the company in a research note on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Magna International currently has a consensus rating of “Hold” and a consensus target price of $64.19.

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.