116,325 Magna International Inc. $MGA Shares Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. lowered its holdings in Magna International Inc. (NYSE:MGA) (TSE:MG) by 5.5% in the third quarter, Holdings Channel.com reports. The firm owned 2,014,237 shares of the company’s stock after selling 116,325 shares during the period. TD Waterhouse Canada Inc.’s holdings in Magna International were worth $128,028,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Triasima Portfolio Management inc. grew its holdings in shares of Magna International by 51.9% during the third quarter. Triasima Portfolio Management inc. now owns 194,740 shares of the company’s stock valued at $12,435,000 after buying an additional 66,500 shares in the last quarter. Farther Finance Advisors LLC raised its position in Magna International by 7.2% during the third quarter. Farther Finance Advisors LLC now owns 15,008 shares of the company’s stock valued at $956,000 after buying an additional 1,003 shares during the period. Veracity Capital LLC purchased a new stake in Magna International in the 3rd quarter worth about $286,000. Steph & Co. lifted its stake in Magna International by 2.1% in the 3rd quarter. Steph & Co. now owns 8,373 shares of the company’s stock worth $533,000 after acquiring an additional 172 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in Magna International by 53.9% in the 3rd quarter. Versant Capital Management Inc now owns 1,171 shares of the company’s stock worth $75,000 after acquiring an additional 410 shares in the last quarter. Institutional investors and hedge funds own 67.49% of the company’s stock.

Magna International Stock Down 0.7%

Shares of Magna International stock traded down $0.44 on Friday, hitting $65.97. 1,630,175 shares of the company traded hands, compared to its average volume of 1,038,042. Magna International Inc. has a 12-month low of $44.35 and a 12-month high of $73.22. The company has a quick ratio of 0.88, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. The company has a market cap of $17.47 billion, a PE ratio of 23.90, a PEG ratio of 0.71 and a beta of 1.46. The company has a 50-day moving average price of $66.19 and a 200 day moving average price of $64.49.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data 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 return on equity of 15.04% and a net margin of 1.80%. The business had revenue of $10.84 billion during the quarter, compared to analyst estimates of $10.63 billion. During the same period last year, the company earned $1.44 earnings per share. Magna International’s quarterly revenue was up 3.3% compared to the same quarter last year. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. Sell-side analysts predict that Magna International Inc. will post 7.05 earnings per share for the current year.

Magna International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a $0.4950 dividend. The ex-dividend date was Friday, August 14th. This represents a $1.98 dividend on an annualized basis and a yield of 3.0%. Magna International’s payout ratio is 71.74%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. UBS Group raised their price objective on Magna International from $62.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Royal Bank Of Canada dropped their target price on Magna International from $69.00 to $68.00 and set a “sector perform” rating on the stock in a report on Monday, October 12th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $72.00 price target (down from $77.00) on shares of Magna International in a research report on Tuesday, September 15th. Weiss Ratings raised shares of Magna International from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 29th. Finally, Barclays raised their price target on shares of Magna International from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $69.13.

Magna International Company Profile

Magna International Inc is a Canadian global automotive supplier that designs, engineers and manufactures systems and components for automakers. Its product portfolio includes vehicle body and exterior systems, seating, powertrain and drivetrain components, electronics, lighting, mirrors, roof systems and advanced driver-assistance technologies.

The company also provides complete vehicle engineering and manufacturing services, supporting automakers from product development through assembly.