Plato Investment Management Ltd Raises Stake in Magna International Inc. $MGA

Key Points

• Plato Investment Management increased its stake in Magna International by 74.5% in the fourth quarter, ending with 69,752 shares valued at about $3.74 million.
• Magna reported stronger-than-expected quarterly results, posting $1.38 EPS versus the $1.01 estimate, while revenue came in at $10.13 billion and rose 3.1% year over year.
• The company declared a quarterly dividend of $0.495 per share, equal to an annualized yield of about 3.1%, while analysts currently have a consensus rating of Hold with a $63.13 price target.

Plato Investment Management Ltd lifted its position in Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 74.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,752 shares of the company's stock after acquiring an additional 29,785 shares during the quarter. Plato Investment Management Ltd's holdings in Magna International were worth $3,741,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. SBI Securities Co. Ltd. raised its holdings in shares of Magna International by 22.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 6,387 shares of the company's stock valued at $340,000 after acquiring an additional 1,169 shares in the last quarter. ARGA Investment Management LP raised its holdings in shares of Magna International by 1.1% in the fourth quarter. ARGA Investment Management LP now owns 4,193,129 shares of the company's stock valued at $223,512,000 after acquiring an additional 44,996 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Magna International by 153.0% in the fourth quarter. Farther Finance Advisors LLC now owns 7,182 shares of the company's stock valued at $383,000 after acquiring an additional 4,343 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Magna International in the fourth quarter valued at about $200,000. Finally, Kendall Capital Management raised its holdings in shares of Magna International by 4.5% in the fourth quarter. Kendall Capital Management now owns 9,230 shares of the company's stock valued at $492,000 after acquiring an additional 395 shares in the last quarter. 67.49% of the stock is currently owned by institutional investors.

Magna International Stock Performance

Shares of MGA stock opened at $63.05 on Friday. The business's fifty day simple moving average is $58.40 and its 200-day simple moving average is $54.74. The company has a market cap of $17.30 billion, a PE ratio of 26.38, a PEG ratio of 0.78 and a beta of 1.44. The company has a current ratio of 1.22, a quick ratio of 0.87 and a debt-to-equity ratio of 0.38. Magna International Inc. has a 12-month low of $34.54 and a 12-month high of $69.94.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced its earnings results on Friday, May 1st. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.37. Magna International had a return on equity of 14.01% and a net margin of 1.60%.The firm had revenue of $10.13 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same period in the previous year, the business earned $0.78 EPS. The firm's revenue for the quarter was up 3.1% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. Analysts expect that Magna International Inc. will post 6.84 earnings per share for the current fiscal year.

Magna International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.495 per share. The ex-dividend date is Friday, May 15th. This represents a $1.98 annualized dividend and a dividend yield of 3.1%. Magna International's dividend payout ratio is 82.85%.

Analysts Set New Price Targets

MGA has been the subject of several recent research reports. Bank of America initiated coverage on Magna International in a report on Wednesday, March 4th. They issued a "buy" rating for the company. TD lifted their price objective on Magna International from $75.00 to $76.00 and gave the company a "buy" rating in a report on Monday, May 4th. Canadian Imperial Bank of Commerce decreased their price objective on Magna International to $74.00 in a report on Monday, May 4th. Royal Bank Of Canada restated a "sector perform" rating and issued a $57.00 price objective on shares of Magna International in a report on Wednesday, April 29th. Finally, Raymond James Financial lifted their price objective on Magna International from $50.00 to $75.00 and gave the company a "market perform" rating in a report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $63.13.

Magna International Company Profile

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.

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