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

Nykredit A S purchased a new stake in Magna International Inc. (NYSE:MGA) (TSE:MG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 71,429 shares of the company’s stock, valued at approximately $4,695,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MGA. EverSource Wealth Advisors LLC raised its stake in shares of Magna International by 35.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock worth $42,000 after purchasing an additional 205 shares during the last quarter. 1620 Investment Advisors Inc. boosted its position in shares of Magna International by 2.7% during the fourth quarter. 1620 Investment Advisors Inc. now owns 8,232 shares of the company’s stock valued at $439,000 after buying an additional 215 shares during the last quarter. Van ECK Associates Corp grew its holdings in Magna International by 2.6% during the fourth quarter. Van ECK Associates Corp now owns 9,114 shares of the company’s stock worth $486,000 after buying an additional 235 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in Magna International by 1.8% during the third quarter. Integrated Wealth Concepts LLC now owns 14,241 shares of the company’s stock worth $675,000 after buying an additional 246 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in Magna International by 9.1% in the 1st quarter. Parallel Advisors LLC now owns 3,299 shares of the company’s stock valued at $184,000 after buying an additional 275 shares during the last quarter. 67.49% of the stock is owned by institutional investors.

Magna International Trading Up 0.1%

Shares of Magna International stock opened at $68.91 on Monday. The firm has a market cap of $18.25 billion, a PE ratio of 24.97, a P/E/G ratio of 0.73 and a beta of 1.45. 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 fifty day moving average price of $67.26 and a 200-day moving average price of $63.40.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, July 31st. The company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.33. The company 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 firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.44 EPS. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. Equities research analysts anticipate that Magna International Inc. will post 7.06 EPS for the current year.

Magna International Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MGA shares. Weiss Ratings raised shares of Magna International from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 29th. UBS Group raised their price target 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. Citigroup boosted their price target on shares of Magna International from $58.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. JPMorgan Chase & Co. upped their price objective on shares of Magna International from $70.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Finally, Barclays increased their price objective on shares of Magna International from $66.00 to $68.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Magna International currently has a consensus rating of “Hold” and an average 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.