First Trust Direct Indexing L.P. Boosts Position in Stellantis (NYSE:STLA)

First Trust Direct Indexing L.P. grew its stake in Stellantis (NYSE:STLA) by 3.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,363 shares of the company’s stock after acquiring an additional 2,283 shares during the period. First Trust Direct Indexing L.P.’s holdings in Stellantis were worth $1,821,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its stake in shares of Stellantis by 139.1% during the third quarter. Envestnet Asset Management Inc. now owns 213,158 shares of the company’s stock valued at $4,084,000 after purchasing an additional 124,022 shares in the last quarter. LPL Financial LLC boosted its stake in Stellantis by 27.9% in the third quarter. LPL Financial LLC now owns 198,462 shares of the company’s stock valued at $3,797,000 after acquiring an additional 43,313 shares in the last quarter. Northern Trust Corp grew its holdings in Stellantis by 7.0% in the third quarter. Northern Trust Corp now owns 2,176,169 shares of the company’s stock worth $41,630,000 after purchasing an additional 142,519 shares during the last quarter. Shelton Capital Management acquired a new position in shares of Stellantis during the third quarter worth $305,000. Finally, Advisors Asset Management Inc. increased its position in Stellantis by 25.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 49,667 shares of the company’s stock valued at $950,000 after buying an additional 10,107 shares in the last quarter. Institutional investors own 59.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on STLA. Berenberg Bank reiterated a “hold” rating on shares of Stellantis in a research note on Tuesday, March 26th. Sanford C. Bernstein assumed coverage on Stellantis in a research note on Friday, June 28th. They issued a “market perform” rating and a $23.50 price objective for the company. Nomura reissued a “neutral” rating on shares of Stellantis in a research report on Wednesday, March 13th. Morgan Stanley boosted their target price on shares of Stellantis from $26.00 to $30.40 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Finally, Barclays raised Stellantis to a “strong-buy” rating in a research report on Monday, June 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.55.

Stellantis Stock Up 1.1 %

NYSE STLA opened at $19.87 on Friday. Stellantis has a one year low of $17.19 and a one year high of $29.51. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.24 and a quick ratio of 0.95. The business has a fifty day moving average price of $21.65 and a 200 day moving average price of $23.84.

Stellantis Dividend Announcement

The firm also recently declared an annual dividend, which was paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd were given a dividend of $1.147 per share. The ex-dividend date was Monday, April 22nd. This represents a yield of 4.55%.

Stellantis Company Profile

Stellantis N.V. engages in the design, engineering, manufacturing, distribution, and sale of automobiles and light commercial vehicles, engines, transmission systems, metallurgical products, mobility services, and production systems worldwide. It provides luxury and premium vehicles; sport utility vehicles; American and European brand vehicles; and parts and services, as well as retail and dealer financing, leasing, and rental services.