Scotia Capital Inc. Buys 3,421 Shares of Stellantis (NYSE:STLA)

Scotia Capital Inc. lifted its stake in shares of Stellantis (NYSE:STLA) by 12.3% during the fourth quarter, according to the company in its most recent 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 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of Stellantis during the fourth quarter valued at about $1,151,000. Straightline Group LLC purchased a new position in Stellantis during the fourth quarter valued at approximately $316,000. Capula Management Ltd bought a new stake in Stellantis during the 4th quarter worth approximately $229,000. FIL Ltd lifted its stake in Stellantis by 0.8% in the 4th quarter. FIL Ltd now owns 1,651,419 shares of the company’s stock worth $21,539,000 after purchasing an additional 13,129 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in Stellantis by 10.2% in the 4th quarter. Cerity Partners LLC now owns 87,866 shares of the company’s stock valued at $1,165,000 after purchasing an additional 8,129 shares during the period. Hedge funds and other institutional investors own 59.48% of the company’s stock.

Stellantis Price Performance

Shares of Stellantis stock opened at $9.38 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.85 and a current ratio of 1.14. Stellantis has a 52-week low of $8.39 and a 52-week high of $27.04. The company has a fifty day moving average of $12.06 and a 200-day moving average of $12.79. The stock has a market capitalization of $28.36 billion, a price-to-earnings ratio of 2.75 and a beta of 1.44.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Piper Sandler lowered Stellantis from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $23.00 to $13.00 in a research note on Thursday, March 20th. TD Cowen started coverage on Stellantis in a report on Friday, March 7th. They set a “hold” rating and a $13.00 price objective for the company. UBS Group downgraded shares of Stellantis from a “buy” rating to a “neutral” rating in a research note on Monday. Finally, Cowen started coverage on shares of Stellantis in a report on Thursday, March 6th. They issued a “hold” rating on the stock. Ten equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $16.49.

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.