Magna International Inc. $MGA Stock Holdings Lessened by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. reduced its position in shares of Magna International Inc. (NYSE:MGAFree Report) (TSE:MG) by 0.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 84,009 shares of the company’s stock after selling 561 shares during the period. Lorne Steinberg Wealth Management Inc.’s holdings in Magna International were worth $3,250,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MGA. Cromwell Holdings LLC grew its holdings in shares of 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 in the last quarter. LRI Investments LLC purchased a new stake in Magna International in the 2nd quarter worth about $27,000. Integrated Wealth Concepts LLC lifted its stake in Magna International by 19.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,808 shares of the company’s stock worth $231,000 after acquiring an additional 1,123 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Magna International by 385.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company’s stock worth $55,000 after acquiring an additional 1,136 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in Magna International by 507.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,500 shares of the company’s stock worth $51,000 after acquiring an additional 1,253 shares in the last quarter. Institutional investors and hedge funds own 67.49% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wall Street Zen raised Magna International from a “buy” rating to a “strong-buy” rating in a research note on Sunday, October 12th. TD Securities upped their price target on shares of Magna International from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Evercore ISI upped their price target on shares of Magna International from $40.00 to $47.00 and gave the stock an “in-line” rating in a research note on Monday, October 13th. CIBC reaffirmed a “neutral” rating and issued a $47.00 price target (up from $46.00) on shares of Magna International in a research note on Tuesday, August 26th. Finally, UBS Group upped their price target on shares of Magna International from $46.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Three research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Magna International has an average rating of “Hold” and an average price target of $45.50.

View Our Latest Analysis on Magna International

Magna International Trading Up 0.0%

Shares of NYSE:MGA opened at $44.77 on Monday. The stock has a market capitalization of $12.62 billion, a PE ratio of 10.51, a P/E/G ratio of 0.99 and a beta of 1.53. Magna International Inc. has a 1 year low of $30.39 and a 1 year high of $49.79. The firm has a fifty day moving average price of $45.84 and a 200 day moving average price of $40.30. 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 (NYSE:MGAGet Free Report) (TSE:MG) last issued its quarterly earnings data on Friday, August 1st. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.25. The firm had revenue of $10.82 billion during the quarter, compared to analysts’ expectations of $10.10 billion. Magna International had a net margin of 2.91% and a return on equity of 11.89%. Magna International’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.35 earnings per share. Magna International has set its FY 2025 guidance at EPS. Analysts expect that Magna International Inc. will post 5.87 EPS for the current fiscal year.

Magna International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $0.485 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.94 dividend on an annualized basis and a yield of 4.3%. Magna International’s dividend payout ratio is currently 45.54%.

Magna International Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Magna International (NYSE:MGA)

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