RBC Global Asset Management, Inc. has recently announced that it has increased stake in Magna International Inc. (NYSE:MGA) by 5.01%. After grabbing 9.21 million shares, the institutional investor is now in possession of 0.44 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 3.19% having worth around $513.27 million. Moreover, RBC Dominion Securities, Inc. increased its share by 0.68 million to have a control over 8.05 million shares. And Beutel, Goodman & Co. Ltd. raised its holdings to 0.4 million shares by acquiring 7.93 million shares or 2.75% of the stake.
Magna International Inc. (MGA) concluded trading on 11/17/22 at a closing price of $61.64, with 3.3 million shares of worth about $203.63 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -1.75% during that period and on Thursday the price saw a loss of about -0.68%. Currently the company’s common shares owned by public are about 287.90M shares, out of which, 286.67M shares are available for trading.
Vanguard Windsor Funds – Vanguard, Principal Investors – Equity Inco, and Vanguard Total International Stoc are the top 3 mutual funds which are holding stakes in Magna International Inc. Vanguard Windsor Funds – Vanguard is currently holding 3.73 million shares of worth totaling $207.64 million. The company recently came buying 0.0 shares which brought its stake up to 1.29% of the company’s outstanding shares. Principal Investors – Equity Inco bought 0.34 million shares, after which its hold over company’s outstanding shares expand to 1.24%, leaving 3.59 million shares with the mutual fund that have a worth of about $199.99 million. Vanguard Total International Stoc, after selling 3.58 million shares, have now control over 1.24% of the stake in the company. It holds 55768.0 shares of worth $199.57 million.
However, the stock later moved at a day high price of 61.68, or with a loss of -0.68%. Stock saw a price change of 4.32% in past 5 days and over the past one month there was a price change of 21.12%. Year-to-date (YTD), MGA shares are showing a performance of -23.84% which decreased to -29.83% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $45.58 but also hit the highest price of $90.15 during that period. The average intraday trading volume for Magna International Inc. shares is 1.05 million. The stock is currently trading 9.22% above its 20-day simple moving average (SMA20), while that difference is up 14.80% for SMA50 and it goes to 1.71% higher than SMA200.
RBC Global Asset Management, Inc. acquired 9.21 million shares of Magna International Inc. having value of about $513.27 million. Data submitted at the U.S SEC by RBC Global Asset Management, Inc. revealed that the firm now holds 0.44 million shares in the company valued at close to $27097930.24, or have control over 5.01% stake in the company. Magna International Inc. (NYSE: MGA) currently have 287.90M outstanding shares and institutions hold larger chunk of about 72.20% of that. Holding of mutual funds in the company is about 26.18% while other institutional holders and individual stake holders have control over 37.38% and — of the stake respectively.
The stock has a current market capitalization of $16.71B and its 3Y-monthly beta is at 1.52. PE ratio of stock for trailing 12 months is 19.11, while it has posted earnings per share of $3.23 in the same period. Its PEG reads 0.48 and has Quick Ratio of 0.90 while making debt-to-equity ratio of 0.33. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for MGA, volatility over the week remained 3.46% while standing at 3.32% over the month.
Analysts are in expectations that Magna International Inc. (MGA) stock would likely to be making an EPS of $1.59 in the current quarter, while forecast for next quarter EPS is $2.1 and it is $8.83 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.93 which is $2.81 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.95 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 98.40% while it is estimated to increase by 40.43% in next year. EPS is likely to grow at an annualized rate of 39.80% for next 5-years, compared to annual growth of -0.60% made by the stock over the past 5-years.
Coverage by Raymond James stated Magna International Inc. (MGA) stock as a Mkt perform in their note to investors on March 16, 2022, suggesting a price target of $68 for the stock. On March 08, 2022, BMO Capital Markets Downgrade their recommendations, while on December 16, 2021, Wells Fargo Upgrade their ratings for the stock with a price target of $93. Stock get a Buy rating from Citigroup on November 08, 2021.