QV Investors Inc. Reduces Position in Magna International Inc. $MGA

QV Investors Inc. decreased its holdings in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 5.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 554,841 shares of the company’s stock after selling 31,350 shares during the period. Magna International comprises approximately 2.8% of QV Investors Inc.’s holdings, making the stock its 13th largest position. QV Investors Inc.’s holdings in Magna International were worth $36,472,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Van ECK Associates Corp lifted its position in Magna International by 6.2% during the second quarter. Van ECK Associates Corp now owns 10,156 shares of the company’s stock valued at $667,000 after purchasing an additional 597 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Magna International in the 2nd quarter worth approximately $9,160,000. Kendall Capital Management bought a new stake in Magna International during the 2nd quarter worth approximately $1,176,000. Plato Investment Management Ltd purchased a new position in Magna International during the second quarter valued at approximately $7,473,000. Finally, Bank of New York Mellon Corp purchased a new position in Magna International during the second quarter valued at approximately $28,495,000. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

Magna International Stock Performance

MGA opened at $65.86 on Monday. The stock’s 50 day moving average price is $67.13 and its 200-day moving average price is $63.25. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.88 and a current ratio of 1.22. The stock has a market cap of $17.61 billion, a price-to-earnings ratio of 23.86, a P/E/G ratio of 0.71 and a beta of 1.44. Magna International Inc. has a one year low of $43.11 and a one year high of $73.22.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Friday, July 31st. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.33. Magna International had a net margin of 1.80% and a return on equity of 15.04%. The business 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 company earned $1.44 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. On average, equities analysts forecast that Magna International Inc. will post 7.07 EPS for the current year.

Magna International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors 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 dividend on an annualized basis and a yield of 3.0%. Magna International’s dividend payout ratio (DPR) is currently 71.74%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Magna International from $70.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. Wall Street Zen upgraded Magna International from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Veritas raised Magna International to a “strong-buy” rating in a research note on Monday, May 4th. Morgan Stanley increased 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. Finally, Royal Bank Of Canada increased their price objective on shares of Magna International from $66.00 to $69.00 and gave the company a “sector perform” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Magna International presently has an average rating of “Hold” and a consensus price target of $68.20.

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.