QV Investors Inc. Buys 3,912 Shares of Magna International Inc. $MGA

QV Investors Inc. grew its stake in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 0.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 651,377 shares of the company’s stock after acquiring an additional 3,912 shares during the period. Magna International comprises approximately 2.5% of QV Investors Inc.’s investment portfolio, making the stock its 12th biggest holding. QV Investors Inc.’s holdings in Magna International were worth $25,129,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LRI Investments LLC purchased a new position in Magna International during the second quarter valued at approximately $27,000. Cromwell Holdings LLC increased its holdings in Magna International by 131.6% during the first quarter. Cromwell Holdings LLC now owns 820 shares of the company’s stock valued at $28,000 after buying an additional 466 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in Magna International by 507.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,500 shares of the company’s stock valued at $51,000 after buying an additional 1,253 shares during the period. Farther Finance Advisors LLC increased its holdings in Magna International by 385.1% during the second quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company’s stock valued at $55,000 after buying an additional 1,136 shares during the period. Finally, Parallel Advisors LLC increased its holdings in Magna International by 115.3% during the second quarter. Parallel Advisors LLC now owns 2,498 shares of the company’s stock valued at $96,000 after buying an additional 1,338 shares during the period. Institutional investors own 67.49% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on MGA. Weiss Ratings reissued a “hold (c)” rating on shares of Magna International in a report on Saturday. Wells Fargo & Company cut their price objective on shares of Magna International from $46.00 to $45.00 and set an “equal weight” rating on the stock in a report on Friday, October 3rd. Evercore ISI lifted their price objective on shares of Magna International from $40.00 to $47.00 and gave the company an “in-line” rating in a report on Monday, October 13th. CIBC reissued a “neutral” rating and set a $47.00 price objective (up from $46.00) on shares of Magna International in a report on Tuesday, August 26th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $45.00 price target on shares of Magna International in a report on Friday, September 12th. Three equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $45.86.

Magna International Price Performance

NYSE MGA opened at $46.17 on Friday. The firm’s fifty day simple moving average is $46.01 and its two-hundred day simple moving average is $40.74. The company has a current ratio of 1.16, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39. Magna International Inc. has a 12-month low of $30.39 and a 12-month high of $49.79. The firm has a market capitalization of $13.01 billion, a P/E ratio of 10.84, a P/E/G ratio of 1.02 and a beta of 1.53.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, August 1st. The company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.25. The firm had revenue of $10.82 billion for the quarter, compared to analyst estimates of $10.10 billion. Magna International had a net margin of 2.91% and a return on equity of 11.89%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.35 earnings per share. Magna International has set its FY 2025 guidance at EPS. Analysts forecast that Magna International Inc. will post 5.87 EPS for the current fiscal year.

Magna International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 4.2%. Magna International’s payout ratio is 45.54%.

Magna International Profile

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.