Public Employees Retirement System of Ohio Acquires New Holdings in Stellantis N.V. $STLA

Key Points

• Public Employees Retirement System of Ohio acquired 296,527 Stellantis shares in the second quarter, valued at approximately $1.69 million. Institutional investors and hedge funds collectively own 59.48% of the company.
• Analyst sentiment is largely negative: Stellantis has a consensus rating of “Reduce”, with an average price target of $8.50. Recent actions included downgrades from Bank of America, HSBC and Wall Street Zen.
• Stellantis shares opened at $5.56, near their 52-week low of $5.05 and well below the 52-week high of $12.22. The company reported quarterly revenue of $49.63 billion and earnings of $0.14 per share.

Public Employees Retirement System of Ohio bought a new position in shares of Stellantis N.V. (NYSE:STLA - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 296,527 shares of the company's stock, valued at approximately $1,686,000.

Several other institutional investors also recently modified their holdings of STLA. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings in shares of Stellantis by 113.6% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 3,300 shares of the company's stock valued at $36,000 after acquiring an additional 1,755 shares in the last quarter. Intesa Sanpaolo Wealth Management acquired a new position in Stellantis in the 4th quarter worth about $49,000. Sarver Vrooman Wealth Advisors bought a new position in Stellantis in the fourth quarter valued at about $52,000. EverSource Wealth Advisors LLC raised its position in Stellantis by 63.8% in the second quarter. EverSource Wealth Advisors LLC now owns 6,286 shares of the company's stock valued at $63,000 after purchasing an additional 2,448 shares during the last quarter. Finally, MASTERINVEST Kapitalanlage GmbH acquired a new stake in shares of Stellantis during the second quarter valued at about $65,000. 59.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Bank of America cut Stellantis from a "neutral" rating to an "underperform" rating in a report on Monday, May 11th. Wall Street Zen downgraded shares of Stellantis from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 22nd. Citigroup reiterated a "neutral" rating on shares of Stellantis in a research report on Thursday, July 9th. HSBC lowered shares of Stellantis from a "hold" rating to a "reduce" rating in a report on Friday, July 3rd. Finally, Truist Financial set a $9.00 price target on shares of Stellantis in a research note on Friday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have assigned a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, Stellantis presently has a consensus rating of "Reduce" and an average target price of $8.50.

Stellantis Price Performance

Shares of STLA opened at $5.56 on Tuesday. The business has a 50-day moving average of $5.57 and a 200-day moving average of $6.71. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.04 and a quick ratio of 0.76. The company has a market capitalization of $20.93 billion, a price-to-earnings ratio of 14.26, a price-to-earnings-growth ratio of 0.32 and a beta of 1.44. Stellantis N.V. has a 1 year low of $5.05 and a 1 year high of $12.22.

Stellantis (NYSE:STLA - Get Free Report) last released its earnings results on Tuesday, June 30th. The company reported $0.14 earnings per share for the quarter. The firm had revenue of $49.63 billion for the quarter. As a group, equities research analysts anticipate that Stellantis N.V. will post 0.61 earnings per share for the current year.

Stellantis Company Profile

Stellantis N.V. is a global automotive manufacturer formed through the merger of Fiat Chrysler Automobiles (FCA) and Groupe PSA, a transaction completed in January 2021. The company designs, manufactures and sells a broad portfolio of passenger cars, light commercial vehicles and related powertrains under a large number of well-known brands, including (but not limited to) Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, Fiat, Jeep, Maserati, Opel, Peugeot, Ram and Vauxhall. Stellantis also provides parts, accessories, service operations and branded aftersales support through legacy networks such as Mopar and regional dealer ecosystems.

In addition to vehicle manufacturing, Stellantis operates mobility- and software-related businesses and financial services.

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