Mufg Securities Canada LTD. Has $23.76 Million Stake in Magna International Inc. $MGA

Key Points

• Mufg Securities Canada LTD. reduced its Magna International stake by 6.9% in the second quarter, selling 26,855 shares. It still held 361,974 shares worth approximately $23.76 million, while institutional investors collectively owned 67.49% of the company.
• Magna reported quarterly EPS of $1.86, beating estimates of $1.53, and revenue of $10.84 billion, up 3.3% year over year. The company reaffirmed FY 2026 EPS guidance of $6.70–$7.30.
• The company pays a quarterly dividend of $0.495 per share, or $1.98 annually, for a 3.0% yield. Analysts’ average rating is “Hold,” with an average price target of $68.20, compared with the stock’s $65.57 opening price.

Mufg Securities Canada LTD. lessened its position in shares of Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 6.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 361,974 shares of the company's stock after selling 26,855 shares during the period. Mufg Securities Canada LTD. owned about 0.14% of Magna International worth $23,764,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MGA. EverSource Wealth Advisors LLC raised its position in Magna International by 35.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company's stock valued at $42,000 after buying an additional 205 shares during the last quarter. 1620 Investment Advisors Inc. lifted its position in shares of Magna International by 2.7% in the fourth quarter. 1620 Investment Advisors Inc. now owns 8,232 shares of the company's stock worth $439,000 after purchasing an additional 215 shares in the last quarter. Van ECK Associates Corp boosted 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 purchasing an additional 235 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in Magna International by 1.8% in the third quarter. Integrated Wealth Concepts LLC now owns 14,241 shares of the company's stock valued at $675,000 after purchasing an additional 246 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake 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 currently owned by institutional investors.

Magna International Trading Down 0.4%

Shares of Magna International stock opened at $65.57 on Tuesday. 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 business has a fifty day simple moving average of $67.12 and a two-hundred day simple moving average of $63.31. Magna International Inc. has a 1 year low of $43.11 and a 1 year high of $73.22. The company has a market capitalization of $17.53 billion, a price-to-earnings ratio of 23.76, a P/E/G ratio of 0.71 and a beta of 1.44.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last released its quarterly earnings data on Friday, July 31st. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.53 by $0.33. The firm 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 company's quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.44 earnings per share. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. Research analysts forecast that Magna International Inc. will post 7.07 EPS for the current year.

Magna International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a dividend of $0.495 per share. The ex-dividend date was Friday, August 14th. This represents a $1.98 annualized dividend and a yield of 3.0%. Magna International's dividend payout ratio (DPR) is 71.74%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Barclays lifted their target price on Magna International from $66.00 to $68.00 and gave the company an "equal weight" rating in a research report on Friday, August 7th. Royal Bank Of Canada increased their price objective on Magna International from $66.00 to $69.00 and gave the company a "sector perform" rating in a report on Monday, August 3rd. JPMorgan Chase & Co. boosted their target price on shares of Magna International from $70.00 to $77.00 and gave the stock an "overweight" rating in a report on Monday, August 10th. Morgan Stanley boosted their price objective on shares of Magna International from $65.00 to $69.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 18th. Finally, Wall Street Zen raised shares of Magna International from a "buy" rating to a "strong-buy" rating in a report on Saturday. One research 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. According to MarketBeat, the company currently has an average 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.

Want to see what other hedge funds are holding MGA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Magna International Inc. (NYSE:MGA - Free Report) TSE: MG.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source