247,588 Shares in Magna International Inc. $MGA Purchased by Caisse DE Depot ET Placement DU Quebec

Key Points

• Caisse DE Depot ET Placement DU Quebec invested approximately $8.42 million in Magna International, purchasing 247,588 shares in the first quarter and owning 0.09% of the company.
• Magna International recently reported $1.44 earnings per share for the quarter, exceeding expectations of $1.19, while its revenue was $10.82 billion, surpassing analysts' predictions.
• The company announced a quarterly dividend of $0.485, with an annualized yield of 4.2%, to be paid on August 29th to investors of record on August 15th.

Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Magna International Inc. (NYSE:MGA - Free Report) TSE: MG during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 247,588 shares of the company's stock, valued at approximately $8,416,000. Caisse DE Depot ET Placement DU Quebec owned 0.09% of Magna International as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc acquired a new position in shares of Magna International in the first quarter valued at approximately $27,000. Cromwell Holdings LLC increased its holdings in shares of Magna International by 131.6% in the first quarter. Cromwell Holdings LLC now owns 820 shares of the company's stock valued at $28,000 after purchasing an additional 466 shares during the period. LRI Investments LLC increased its holdings in shares of Magna International by 2,126.5% in the fourth quarter. LRI Investments LLC now owns 757 shares of the company's stock valued at $32,000 after purchasing an additional 723 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Magna International by 507.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,500 shares of the company's stock valued at $51,000 after buying an additional 1,253 shares in the last quarter. Finally, Atlas Capital Advisors Inc. purchased a new stake in shares of Magna International in the first quarter valued at approximately $99,000. Institutional investors and hedge funds own 67.49% of the company's stock.

Magna International Price Performance

Shares of NYSE:MGA traded down $0.01 on Monday, hitting $45.94. The company had a trading volume of 1,184,055 shares, compared to its average volume of 1,136,017. 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 Inc. has a 52-week low of $30.39 and a 52-week high of $47.22. The business has a 50 day moving average of $42.33 and a 200 day moving average of $37.96. The company has a market cap of $12.95 billion, a PE ratio of 10.78, a PEG ratio of 1.03 and a beta of 1.53.

Magna International (NYSE:MGA - Get 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, beating the consensus estimate of $1.19 by $0.25. Magna International had a return on equity of 11.89% and a net margin of 2.91%.The business had revenue of $10.82 billion for the quarter, compared to the consensus estimate of $10.10 billion. During the same period in the prior year, the business earned $1.35 earnings per share. The business's revenue was down 3.0% on a year-over-year basis. Magna International has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Magna International Inc. will post 5.87 earnings per share for the current fiscal year.

Magna International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Friday, August 15th. Magna International's dividend payout ratio is currently 45.54%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MGA. JPMorgan Chase & Co. lifted their price target on Magna International from $47.00 to $48.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Royal Bank Of Canada lifted their price target on Magna International from $38.00 to $45.00 and gave the company a "sector perform" rating in a research note on Friday, August 22nd. Scotiabank lifted their price target on Magna International from $38.00 to $44.00 and gave the company a "sector perform" rating in a research note on Monday, July 14th. TD Securities lifted their price target on Magna International from $50.00 to $52.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, Bank of America boosted their target price on Magna International from $42.00 to $45.00 and gave the stock a "neutral" rating in a research report on Monday, June 16th. Three research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Magna International currently has a consensus rating of "Hold" and an average price target of $43.50.

About Magna International

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.