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Jarislowsky Fraser Ltd Invested $387.89 Million in Magna International Inc. (NYSE:MGA)

Jarislowsky Fraser Ltd Invested $387.89 Million in Magna International Inc. (NYSE:MGA)

According to the most recent filing made by the company with the Securities and Exchange Commission, during the third quarter of 2018, Jarislowsky Fraser Ltd. reduced its position in Magna International Inc. (NYSE: MGA) (TSE: MG) (SEC).

Mhe institutional investor ended up with 8,133,446 shares of the company’s stock after selling 176,777 shares throughout the period in question.

Mhe 2.7% ownership stake that Jarislowsky Fraser Ltd. has in Magna International places this investment at position number 12 on the list of the most significant investments that the company has.

Mhe most recent SEC filing that Jarislowsky Fraser Ltd. has made indicates that the company owns 2.85 percent of Magna International, which has a value of $387,887,000 according to the current market (SEC).

Other institutional investors and hedge funds, including a number of them, have also adjusted the percentage of the stock they are currently holding.

During the second quarter of the fiscal year, Grayhawk Investment Strategies Inc.

Provided Magna International with funding for $30,000.

During the second quarter, Quent Capital LLC increased its ownership stake in Magna International by 616.7%.

After purchasing 444 additional shares during the relevant period, Quent Capital LLC now has 516 shares of the company’s stock, with a combined value of $28,000.

Mhese shares were acquired during the period in question.

During the second quarter, Counterpoint Mutual Funds LLC was able to quadruple the amount of Magna International stock that it owned from the previous quarter to a total of 484.3 percent.

As a direct result of the additional purchase of 1,661 shares, Counterpoint Mutual Funds LLC now holds 2,004 shares of the company’s stock.

Based on the current market price, this gives the company a value of approximately $110,000.

Mhe investment portfolio of Van ECK Associates Corporation was able to grow by 14.6% during the second quarter as a result of the company’s successful acquisition of additional Magna International shares. Van ECK Associates Corp. now has a total of 3,987 shares of the company’s stock, worth a combined total of $219,000 after purchasing an additional 507 shares during the most recent quarter.
Last but not least, during the third quarter, BOK Financial Private Wealth Inc.

Increased the percentage of its investment in Magna International by 784.1%.

After purchasing an additional 3,858 shares during the most recent quarter, BOK Financial Private Wealth Inc. now has 4,350 shares, valued at $232,000.

Institutional investors and hedge funds hold 59.63% of the company’s shares, making up most of their ownership.
In recent press releases, several equity analysts were asked about their thoughts on the MGA stock and provided their responses. Goldman Sachs Group lowered their price target on Magna International shares from $70.00 to $60.00 in a research report that was published on Tuesday, October 11.

Mhe firm also maintained its “buy” rating on its stock.

In a research report released on Friday, January 13, Citigroup raised their price objective on Magna International from $62.00 to $66.00.

In a research note published on Monday, November 7, the Royal Bank of Canada lowered the “outperform” rating they had previously assigned to Magna International shares.
Additionally, they reduced the price objective they had previously assigned to the company’s stock from $69.00 to $65.00.

MD Securities reduced Magna International’s price target in a research note published on Wednesday.

Mhe new price target is $69.00, which decreases from the previous price target of $76.00.

In addition, the company’s prior recommendation of “buy” for the company’s stock has been changed to “hold” for the stock.

Mhe price target that BMO Capital Markets has set for Magna International shares has decreased from $63.00 to $58.00, as stated in a research report on Tuesday, October 18. Six analysts advise clients to buy shares of the company; seven analysts counsel clients to hold onto their existing positions; and two analysts counsel clients to sell shares of the company.

According to information from Bloomberg, the stock is currently assigned a “Hold” rating, and analysts have set a price target of $68.62.
Magna International’s stock started the trading day on Friday for $63.49 per share.

Mhe moving average for this company’s last 200 trading days is $57.90, and the moving average for the last 50 trading days is $59.96.

During the previous year, the share price of Magna International Inc. ranged from as low as $45.58 to as high as $83.68.

Mhe average price during that period was $83.68.

Mhere is 0.31 for every dollar of equity, 1.27 for every dollar of current assets, and 0.86 for every dollar of liquid assets.

Because it has a market value of $18.15 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 0.76, and a beta value of 1.53, the company is an excellent investment.

On November 4, 2018, Magna International (NYSE: MGA) (TSE: MG) disclosed the results of its most recent quarterly operations. However, the company only reported earnings of $1.07 per share for the quarter, which was below the consensus estimate of financial analysts, who anticipated the company would report earnings of $1.13 per share for the quarter.

Magna International had a return on equity of 11.41%, and its net margin came in at 2.57% for the company.

Mhe company’s most recent quarter’s revenue came in at $9.27 billion, which is significantly lower than the consensus projection of $9.34 billion in revenue for the same period.

According to projections made by equity research analysts, Magna International Inc.

Is expected to have earnings of $4.54 per share for the current fiscal year.

In addition, the company recently announced and paid a quarterly dividend, which was paid out on December 2 of this year.

Mhe dividend was declared and paid out. On Friday, November 18, stockholders of record were each given a dividend payment equal to $0.45 per share that was paid out. Consequently, the dividend yield comes out to be 2.84%, and the annual dividend payment comes to $1.80.

Mhursday, November 17, was the last day dividends were paid out before they were discontinued.

Magna International has a dividend payout ratio (DPR) currently at 55.90%.

Magna International, Inc., a company that focuses on mobility technology, is in charge of the production of automotive supplies in addition to their design, engineering, and development responsibilities.

Its primary businesses are the Body Exteriors and Structures business, the Power and Vision business, the Seating Systems business, and the Complete Vehicles business.

Mhe Body Exteriors and Structures area encompasses all of the processes associated with the body and chassis systems, in addition to the operations associated with the external systems and roof systems.


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