Stellantis N.V. $STLA Position Raised by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada increased its Stellantis stake by 7,589.8% in the third quarter, bringing its holdings to 553,669 shares valued at approximately $2.6 million. Institutional investors collectively own 59.48% of the stock.
• Stellantis shares opened at $4.33, near their 52-week low of $4.19 and well below the $12.22 high. The company reported quarterly revenue of $49.63 billion and earnings of $0.14 per share.
• Analyst sentiment remains cautious, with a consensus rating of “Reduce” and an average price target of $7.38; the ratings include ten Holds, seven Sells, two Strong Buys and one Buy.

TD Waterhouse Canada Inc. lifted its holdings in shares of Stellantis N.V. (NYSE:STLA - Free Report) by 7,589.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 553,669 shares of the company's stock after purchasing an additional 546,469 shares during the period. TD Waterhouse Canada Inc.'s holdings in Stellantis were worth $2,597,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Great Lakes Advisors LLC purchased a new stake in Stellantis during the second quarter worth about $1,936,000. Engineers Gate Manager LP raised its position in Stellantis by 439.1% in the second quarter. Engineers Gate Manager LP now owns 333,091 shares of the company's stock worth $1,894,000 after acquiring an additional 271,303 shares during the period. Chou Associates Management Inc. bought a new stake in Stellantis in the second quarter worth about $8,003,000. Ellsworth Advisors LLC bought a new stake in Stellantis in the third quarter worth about $2,022,000. Finally, Renaissance Technologies LLC boosted its stake in Stellantis by 118.4% in the first quarter. Renaissance Technologies LLC now owns 3,365,143 shares of the company's stock valued at $23,540,000 after acquiring an additional 1,824,139 shares during the last quarter. 59.48% of the stock is owned by hedge funds and other institutional investors.

Stellantis Stock Up 0.8%

STLA stock opened at $4.33 on Wednesday. The stock has a fifty day moving average of $4.94 and a 200-day moving average of $6.18. Stellantis N.V. has a fifty-two week low of $4.19 and a fifty-two week high of $12.22. The company has a market capitalization of $16.28 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 0.37 and a beta of 1.49. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.76 and a current ratio of 1.04.

Stellantis (NYSE:STLA - Get Free Report) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $0.14 earnings per share (EPS) for the quarter. The firm had revenue of $49.63 billion during the quarter. As a group, equities research analysts predict that Stellantis N.V. will post 0.41 earnings per share for the current year.

Analysts Set New Price Targets

STLA has been the subject of a number of research reports. TD Cowen reissued a "hold" rating on shares of Stellantis in a research report on Wednesday, August 26th. Freedom Broker decreased their price target on shares of Stellantis from $7.50 to $6.80 and set a "buy" rating for the company in a research note on Tuesday, October 13th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Stellantis in a report on Tuesday, July 14th. Weiss Ratings cut shares of Stellantis from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, September 4th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Stellantis in a research note on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have assigned a Hold rating and seven have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target of $7.38.

Stellantis Profile

Stellantis N.V. NYSE: STLA is a global automotive company formed in 2021 through the merger of Fiat Chrysler Automobiles and Groupe PSA. The company designs, engineers, manufactures and sells passenger cars, light commercial vehicles and mobility solutions across markets worldwide.

Stellantis operates a broad portfolio of automotive brands, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, FIAT, Jeep, Lancia, Maserati, Opel, Peugeot, Ram and Vauxhall. Its products range from mass-market cars and sport utility vehicles to commercial vans, performance vehicles and luxury automobiles.

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