Magna International Inc. $MGA Shares Purchased by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. grew its stake in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 10.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,130,562 shares of the company’s stock after purchasing an additional 206,433 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Magna International were worth $134,577,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of Magna International by 35.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock valued at $42,000 after buying an additional 205 shares in the last quarter. Oslo Pensjonsforsikring AS purchased a new position in shares of Magna International in the 1st quarter valued at $45,000. IFC & Insurance Marketing Inc. acquired a new stake in Magna International during the 4th quarter worth $49,000. Atlas Capital Advisors Inc. acquired a new stake in Magna International during the 4th quarter worth $67,000. Finally, Danske Bank A S purchased a new stake in Magna International in the third quarter valued at $112,000. Hedge funds and other institutional investors own 67.49% of the company’s stock.

Magna International Stock Up 2.0%

Shares of NYSE:MGA opened at $67.10 on Friday. The stock has a market cap of $17.77 billion, a P/E ratio of 24.31, a P/E/G ratio of 0.70 and a beta of 1.45. The firm has a fifty day moving average price of $67.17 and a 200 day moving average price of $63.40. 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 1-year low of $43.11 and a 1-year high of $73.22.

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. Magna International had a net margin of 1.80% and a return on equity of 15.04%. The company had revenue of $10.84 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same period in the previous year, the business posted $1.44 earnings per share. Magna International’s quarterly revenue was up 3.3% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. Sell-side analysts predict that Magna International Inc. will post 7.06 EPS for the current year.

Magna International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a $0.495 dividend. This represents a $1.98 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, August 14th. Magna International’s payout ratio is 71.74%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Magna International from $70.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. Morgan Stanley lifted their target price on Magna International from $65.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 18th. Wells Fargo & Company boosted their target price on Magna International from $62.00 to $67.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Weiss Ratings raised Magna International from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 29th. Finally, UBS Group raised their price target on Magna International from $62.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $68.20.

Magna International Company Profile

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.