71,429 Shares in Magna International Inc. $MGA Bought by Nykredit A S

Nykredit A S bought a new position in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 71,429 shares of the company’s stock, valued at approximately $4,695,000.

A number of other institutional investors have also added to or reduced their stakes in MGA. EverSource Wealth Advisors LLC raised 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 acquiring an additional 205 shares in the last quarter. Oslo Pensjonsforsikring AS purchased a new position in shares of Magna International during the first quarter worth about $45,000. IFC & Insurance Marketing Inc. bought a new position in shares of Magna International in the fourth quarter worth approximately $49,000. Atlas Capital Advisors Inc. purchased a new stake in Magna International in the fourth quarter valued at approximately $67,000. Finally, Danske Bank A S purchased a new stake in Magna International in the third quarter valued at approximately $112,000. 67.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MGA has been the subject of a number of research reports. Wall Street Zen raised shares of Magna International from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 29th. UBS Group raised their price objective on shares of Magna International from $62.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Weiss Ratings raised shares of Magna International from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 29th. Scotiabank upped their target price on shares of Magna International from $74.00 to $78.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 3rd. Finally, Royal Bank Of Canada increased their target price on Magna International from $66.00 to $69.00 and gave the company a “sector perform” rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $68.20.

Magna International Stock Up 0.1%

Shares of MGA opened at $68.91 on Monday. Magna International Inc. has a 1 year low of $43.11 and a 1 year high of $73.22. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.88. The stock has a 50 day simple moving average of $67.26 and a two-hundred day simple moving average of $63.40. The firm has a market cap of $18.25 billion, a P/E ratio of 24.97, a P/E/G ratio of 0.73 and a beta of 1.45.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Friday, July 31st. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.53 by $0.33. The firm had revenue of $10.84 billion for the quarter, compared to the consensus estimate of $10.63 billion. Magna International had a net margin of 1.80% and a return on equity of 15.04%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm posted $1.44 earnings per share. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. On average, analysts forecast that Magna International Inc. will post 7.06 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a $0.495 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.98 annualized dividend and a yield of 2.9%. Magna International’s payout ratio is currently 71.74%.

Magna International 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.