856,114 Shares of MDA Space Ltd. $MDA Bought by Beutel Goodman & Co Ltd.

Key Points

• Beutel Goodman & Co. opened a position in MDA Space, buying 856,114 shares worth approximately $25.4 million, or about 0.53% of the company.
• Other institutional investors also made purchases or increased holdings, including TD Waterhouse Canada, which raised its stake by 37.9% to 992,507 shares.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $50. MDA reported quarterly EPS of $0.26, above the $0.20 consensus estimate.

Beutel Goodman & Co Ltd. bought a new position in shares of MDA Space Ltd. (NYSE:MDA - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 856,114 shares of the company's stock, valued at approximately $25,416,000. Beutel Goodman & Co Ltd. owned about 0.53% of MDA Space as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Van ECK Associates Corp purchased a new position in MDA Space in the second quarter valued at approximately $135,771,000. Tidal Investments LLC purchased a new stake in shares of MDA Space during the 2nd quarter worth approximately $53,428,000. TD Waterhouse Canada Inc. boosted its holdings in shares of MDA Space by 37.9% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 992,507 shares of the company's stock valued at $28,630,000 after buying an additional 272,974 shares in the last quarter. Caisse de depot et placement du Quebec boosted its holdings in shares of MDA Space by 13.7% in the 2nd quarter. Caisse de depot et placement du Quebec now owns 785,799 shares of the company's stock valued at $32,457,000 after buying an additional 94,799 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of MDA Space in the 3rd quarter valued at $21,289,000.

Analysts Set New Price Targets

Several equities research analysts recently commented on MDA shares. National Bank Financial began coverage on shares of MDA Space in a research note on Monday, September 14th. They set an "outperform" rating on the stock. Royal Bank Of Canada reissued an "outperform" rating and issued a $60.00 price target on shares of MDA Space in a research report on Monday, August 17th. Jefferies Financial Group reaffirmed a "buy" rating on shares of MDA Space in a report on Tuesday, October 13th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $41.00 target price on shares of MDA Space in a research report on Monday, August 10th. Finally, Weiss Ratings cut MDA Space from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $50.00.

MDA Space Price Performance

Shares of NYSE MDA opened at $30.75 on Tuesday. The stock has a market cap of $4.99 billion and a P/E ratio of 56.94. MDA Space Ltd. has a twelve month low of $23.23 and a twelve month high of $49.37. The stock has a 50 day moving average of $28.95 and a two-hundred day moving average of $33.21. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 0.19.

MDA Space (NYSE:MDA - Get Free Report) last announced its earnings results on Thursday, November 5th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.06. MDA Space had a net margin of 5.68% and a return on equity of 9.42%. On average, research analysts forecast that MDA Space Ltd. will post 0.96 earnings per share for the current year.

About MDA Space

MDA Space is a Canadian space technology company that develops and provides systems and services for government, commercial and defense customers. Its work spans satellite communications, Earth observation and space robotics, supporting missions and operations on Earth and in orbit.

The company designs and builds satellites and related systems, provides geospatial data and analytics, and develops robotic technologies for space. Its robotics work includes contributions to the Canadarm2 and Dextre systems on the International Space Station, as well as work on Canadarm3, planned for the Lunar Gateway.

Founded in 1969, MDA has operated under several corporate structures, including as part of Maxar Technologies, before returning to independent ownership and adopting the MDA Space name.

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