Public Sector Pension Investment Board Boosts Position in Stellantis (NYSE:STLA)

Public Sector Pension Investment Board boosted its position in shares of Stellantis (NYSE:STLA) by 18.1% in the third quarter, Holdings Channel reports. The fund owned 1,099,313 shares of the company’s stock after purchasing an additional 168,520 shares during the quarter. Public Sector Pension Investment Board’s holdings in Stellantis were worth $15,223,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the company. Canada Pension Plan Investment Board increased its position in Stellantis by 0.4% during the second quarter. Canada Pension Plan Investment Board now owns 9,838,506 shares of the company’s stock valued at $194,755,000 after acquiring an additional 43,159 shares during the last quarter. AustralianSuper Pty Ltd increased its position in Stellantis by 26.3% during the third quarter. AustralianSuper Pty Ltd now owns 9,089,415 shares of the company’s stock valued at $125,597,000 after acquiring an additional 1,894,146 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Stellantis by 19.0% during the second quarter. Dimensional Fund Advisors LP now owns 8,925,189 shares of the company’s stock valued at $177,163,000 after acquiring an additional 1,425,814 shares during the last quarter. Dnca Finance purchased a new stake in Stellantis during the second quarter valued at $75,331,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in Stellantis by 464.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,246,800 shares of the company’s stock valued at $45,618,000 after acquiring an additional 2,671,500 shares during the last quarter. Hedge funds and other institutional investors own 59.48% of the company’s stock.

Wall Street Analyst Weigh In

STLA has been the subject of a number of analyst reports. Jefferies Financial Group restated a “hold” rating and issued a $16.44 price target (down previously from $27.30) on shares of Stellantis in a research report on Wednesday, August 7th. Royal Bank of Canada restated a “sector perform” rating on shares of Stellantis in a research report on Friday, October 4th. Barclays cut Stellantis from an “overweight” rating to an “equal weight” rating in a research report on Thursday, October 3rd. Wolfe Research restated a “peer perform” rating on shares of Stellantis in a research report on Thursday, September 5th. Finally, Evercore ISI initiated coverage on Stellantis in a research report on Monday, November 11th. They issued an “inline” rating for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $27.34.

Stellantis Stock Performance

Shares of STLA opened at $12.79 on Friday. The business’s 50 day moving average is $13.63 and its 200 day moving average is $17.06. Stellantis has a 12-month low of $12.57 and a 12-month high of $29.51. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.14 and a quick ratio of 0.85.

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.