Canada Pension Plan Investment Board Raises Position in Stellantis (NYSE:STLA)

Canada Pension Plan Investment Board increased its stake in Stellantis (NYSE:STLA) by 0.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,838,506 shares of the company’s stock after acquiring an additional 43,159 shares during the period. Canada Pension Plan Investment Board owned approximately 0.31% of Stellantis worth $194,755,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its position in shares of Stellantis by 4.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 43,987 shares of the company’s stock worth $1,026,000 after purchasing an additional 1,915 shares in the last quarter. Wells Fargo & Company MN raised its position in Stellantis by 12.5% in the 4th quarter. Wells Fargo & Company MN now owns 596,174 shares of the company’s stock valued at $13,903,000 after purchasing an additional 66,427 shares during the last quarter. Corient Private Wealth LLC boosted its stake in Stellantis by 1.4% during the 4th quarter. Corient Private Wealth LLC now owns 149,857 shares of the company’s stock worth $3,495,000 after purchasing an additional 2,029 shares during the period. EverSource Wealth Advisors LLC grew its position in Stellantis by 4.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 10,863 shares of the company’s stock worth $253,000 after purchasing an additional 430 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV increased its stake in Stellantis by 52.0% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 23,803 shares of the company’s stock valued at $555,000 after purchasing an additional 8,148 shares during the period. 59.48% of the stock is currently owned by hedge funds and other institutional investors.

Stellantis Stock Performance

Shares of STLA opened at $15.01 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.26. Stellantis has a 52-week low of $14.76 and a 52-week high of $29.51. The company has a 50-day simple moving average of $16.68 and a 200-day simple moving average of $21.33. The company has a market capitalization of $47.01 billion, a PE ratio of 3.00, a P/E/G ratio of 0.26 and a beta of 1.63.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Sanford C. Bernstein assumed coverage on shares of Stellantis in a research note on Friday, June 28th. They set a “market perform” rating and a $23.50 target price for the company. Nomura Securities raised Stellantis from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 31st. Nomura raised Stellantis from a “neutral” rating to a “buy” rating in a report on Wednesday, July 31st. Wolfe Research reaffirmed a “peer perform” rating on shares of Stellantis in a report on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Stellantis from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.34.

Insiders Place Their Bets

In other news, major shareholder N.V. Stellantis purchased 2,982,089 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were acquired at an average price of $3.35 per share, with a total value of $9,989,998.15. Following the purchase, the insider now directly owns 59,734,962 shares of the company’s stock, valued at $200,112,122.70. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.02% of the stock is currently owned by company insiders.

Stellantis 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.