Scotia Capital Inc. Increases Stake in Stellantis (NYSE:STLA)

Scotia Capital Inc. grew its stake in shares of Stellantis (NYSE:STLA) by 12.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,188 shares of the company’s stock after purchasing an additional 3,421 shares during the quarter. Scotia Capital Inc.’s holdings in Stellantis were worth $407,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Stellantis during the 4th quarter valued at $609,076,000. Korea Investment CORP raised its stake in shares of Stellantis by 32.1% during the fourth quarter. Korea Investment CORP now owns 1,305,558 shares of the company’s stock valued at $17,020,000 after acquiring an additional 317,091 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in shares of Stellantis by 3.7% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,529,083 shares of the company’s stock worth $59,045,000 after purchasing an additional 162,201 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Stellantis in the fourth quarter worth about $1,151,000. Finally, Four Tree Island Advisory LLC purchased a new position in Stellantis during the 4th quarter valued at about $2,019,000. Institutional investors own 59.48% of the company’s stock.

Wall Street Analysts Forecast Growth

STLA has been the topic of a number of recent analyst reports. UBS Group lowered Stellantis from a “buy” rating to a “neutral” rating in a research report on Monday. Cowen began coverage on shares of Stellantis in a research report on Thursday, March 6th. They set a “hold” rating on the stock. TD Cowen started coverage on shares of Stellantis in a report on Friday, March 7th. They issued a “hold” rating and a $13.00 price objective for the company. Finally, Piper Sandler lowered shares of Stellantis from an “overweight” rating to a “neutral” rating and cut their target price for the company from $23.00 to $13.00 in a research note on Thursday, March 20th. Ten investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $16.49.

Stellantis Stock Up 5.7 %

NYSE:STLA opened at $9.38 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.14 and a quick ratio of 0.85. The firm’s 50-day moving average price is $12.06 and its 200-day moving average price is $12.79. The company has a market capitalization of $28.36 billion, a PE ratio of 2.75 and a beta of 1.44. Stellantis has a 1-year low of $8.39 and a 1-year high of $27.04.

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.