Public Sector Pension Investment Board Grows Position in Stellantis N.V. (NYSE:STLA)

Key Points

• The Public Sector Pension Investment Board has increased its stake in Stellantis N.V. by 11.3%, owning over 1 million shares valued at approximately $12.17 million.
• Several hedge funds, including GAMMA Investing LLC and Farther Finance Advisors LLC, significantly increased their investments in Stellantis, indicating growing confidence among institutional investors.
• Stellantis shares have recently seen a 3.2% increase, settling at around $9.65 with analysts maintaining an average target price of $12.74 and an overall rating of "Hold".

Public Sector Pension Investment Board raised its stake in Stellantis N.V. (NYSE:STLA - Free Report) by 11.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,097,691 shares of the company's stock after buying an additional 111,672 shares during the period. Public Sector Pension Investment Board's holdings in Stellantis were worth $12,168,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Cerity Partners LLC lifted its position in shares of Stellantis by 10.2% in the 4th quarter. Cerity Partners LLC now owns 87,866 shares of the company's stock worth $1,165,000 after purchasing an additional 8,129 shares during the period. Raymond James Financial Inc. bought a new position in shares of Stellantis in the 4th quarter worth about $1,151,000. Scotia Capital Inc. increased its stake in shares of Stellantis by 12.3% in the 4th quarter. Scotia Capital Inc. now owns 31,188 shares of the company's stock worth $407,000 after acquiring an additional 3,421 shares in the last quarter. XTX Topco Ltd increased its stake in shares of Stellantis by 18.6% in the 4th quarter. XTX Topco Ltd now owns 31,746 shares of the company's stock worth $414,000 after acquiring an additional 4,983 shares in the last quarter. Finally, Guggenheim Capital LLC increased its stake in shares of Stellantis by 18.0% in the 4th quarter. Guggenheim Capital LLC now owns 42,281 shares of the company's stock worth $552,000 after acquiring an additional 6,438 shares in the last quarter. Institutional investors own 59.48% of the company's stock.

Stellantis Stock Performance

STLA traded up $0.07 during trading on Friday, reaching $9.81. 8,953,630 shares of the company's stock were exchanged, compared to its average volume of 17,810,211. The stock has a market capitalization of $29.66 billion, a P/E ratio of 2.88, a price-to-earnings-growth ratio of 0.58 and a beta of 1.45. Stellantis N.V. has a 1 year low of $8.39 and a 1 year high of $16.92. The company's fifty day simple moving average is $9.70 and its 200-day simple moving average is $10.73. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.06 and a quick ratio of 0.77.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on STLA shares. DZ Bank upgraded shares of Stellantis from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 22nd. Bank of America lowered shares of Stellantis from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $16.50 to $11.75 in a research note on Monday, July 7th. Redburn Atlantic lowered shares of Stellantis from a "buy" rating to a "neutral" rating in a research note on Tuesday, April 22nd. Jefferies Financial Group raised shares of Stellantis from a "hold" rating to a "buy" rating and raised their price target for the company from $10.25 to $13.20 in a report on Wednesday, June 25th. Finally, Wolfe Research downgraded shares of Stellantis from a "peer perform" rating to an "underperform" rating in a report on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $12.74.

About Stellantis

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.