Nykredit A S Invests $4.50 Million in Magna International Inc. $MGA

Key Points

• Nykredit A/S purchased 68,529 Magna International shares in the second quarter, valued at approximately $4.5 million. Institutional investors collectively own 67.49% of the company.
• Analyst sentiment remains mixed but centers on a “Hold” consensus, with a consensus price target of $69.07. Recent targets range from $64 to $70.
• Magna reported quarterly EPS of $1.86, beating estimates of $1.53, while revenue rose 3.3% year over year to $10.84 billion. The company also pays a quarterly dividend of $0.495 per share, yielding about 3.1% annually.

Nykredit A S bought a new position in shares of Magna International Inc. (NYSE:MGA - Free Report) TSE: MG in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 68,529 shares of the company's stock, valued at approximately $4,505,000.

Several other large investors have also recently bought and sold shares of the business. Geode Capital Management LLC increased its stake in Magna International by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 2,426,843 shares of the company's stock valued at $128,774,000 after purchasing an additional 154,710 shares during the last quarter. TD Waterhouse Canada Inc. boosted its stake in Magna International by 10.7% in the second quarter. TD Waterhouse Canada Inc. now owns 2,130,562 shares of the company's stock valued at $134,577,000 after acquiring an additional 206,433 shares in the last quarter. Amundi boosted its stake in Magna International by 4.2% in the second quarter. Amundi now owns 1,781,357 shares of the company's stock valued at $117,778,000 after acquiring an additional 71,927 shares in the last quarter. Hillsdale Investment Management Inc. grew its holdings in shares of Magna International by 14.8% during the first quarter. Hillsdale Investment Management Inc. now owns 832,575 shares of the company's stock worth $46,486,000 after purchasing an additional 107,150 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Magna International by 2.8% during the first quarter. Bank of New York Mellon Corp now owns 487,633 shares of the company's stock worth $27,215,000 after purchasing an additional 13,439 shares during the last quarter. Hedge funds and other institutional investors own 67.49% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MGA shares. Weiss Ratings raised Magna International from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, July 29th. Wells Fargo & Company raised their target price on shares of Magna International from $62.00 to $67.00 and gave the stock an "equal weight" rating in a research report on Monday, August 3rd. BMO Capital Markets reaffirmed a "market perform" rating and issued a $70.00 target price (down from $76.00) on shares of Magna International in a report on Friday, September 18th. Wall Street Zen downgraded shares of Magna International from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 12th. Finally, UBS Group increased their price target on shares of Magna International from $62.00 to $64.00 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $69.07.

Magna International Stock Performance

Shares of MGA opened at $63.88 on Wednesday. The stock has a market capitalization of $16.92 billion, a P/E ratio of 23.15, a P/E/G ratio of 0.67 and a beta of 1.45. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.88 and a current ratio of 1.22. Magna International Inc. has a 1 year low of $43.11 and a 1 year high of $73.22. The company's fifty day moving average is $67.46 and its two-hundred day moving average is $63.45.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced its quarterly earnings data on Friday, July 31st. The company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.53 by $0.33. Magna International had a return on equity of 15.04% and a net margin of 1.80%.The company had revenue of $10.84 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same quarter in the previous year, the company earned $1.44 EPS. The firm's revenue for the quarter 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. On average, sell-side analysts predict that Magna International Inc. will post 7.06 earnings per share for the current year.

Magna International Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 3.1%. Magna International's payout ratio is presently 71.74%.

Magna International Profile

Magna International Inc is a Canadian global automotive supplier headquartered in Aurora, Ontario. The company develops and manufactures components, systems and technologies for automakers, serving both traditional internal-combustion vehicle programs and electric-vehicle platforms.

Its principal business areas include body and exterior systems, structures and exteriors, powertrain and driveline systems, seating, electronic systems, advanced driver-assistance technologies and vehicle access systems.

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