HITE Hedge Asset Management LLC Boosts Stock Position in Stellantis N.V. $STLA

HITE Hedge Asset Management LLC lifted its position in shares of Stellantis N.V. (NYSE:STLA) by 72.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 797,453 shares of the company’s stock after purchasing an additional 336,154 shares during the period. HITE Hedge Asset Management LLC’s holdings in Stellantis were worth $8,684,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Capital Research Global Investors boosted its holdings in shares of Stellantis by 34.9% during the fourth quarter. Capital Research Global Investors now owns 4,236,161 shares of the company’s stock worth $46,769,000 after purchasing an additional 1,096,413 shares during the period. Norges Bank purchased a new stake in shares of Stellantis during the fourth quarter worth about $553,692,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Stellantis by 19.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,803,310 shares of the company’s stock worth $19,908,000 after purchasing an additional 298,611 shares during the period. Leonteq Securities AG purchased a new stake in shares of Stellantis during the fourth quarter worth about $77,209,000. Finally, Compagnie Lombard Odier SCmA boosted its holdings in shares of Stellantis by 440.1% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 250,022 shares of the company’s stock worth $2,778,000 after purchasing an additional 203,731 shares during the period. 59.48% of the stock is currently owned by hedge funds and other institutional investors.

Stellantis Stock Performance

Shares of STLA opened at $6.88 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.03 and a quick ratio of 0.75. Stellantis N.V. has a one year low of $6.28 and a one year high of $12.22. The company has a 50-day simple moving average of $7.70 and a two-hundred day simple moving average of $8.72. The firm has a market capitalization of $25.88 billion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 0.44 and a beta of 1.41.

Stellantis (NYSE:STLA) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.16 EPS for the quarter. The company had revenue of $44.14 billion during the quarter. On average, analysts anticipate that Stellantis N.V. will post 0.55 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on STLA. Kepler Capital Markets lowered shares of Stellantis from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. Truist Financial set a $9.00 target price on shares of Stellantis in a report on Friday, May 22nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Stellantis in a report on Monday, April 20th. TD Cowen reiterated a “hold” rating on shares of Stellantis in a report on Friday, May 22nd. Finally, Wall Street Zen upgraded shares of Stellantis from a “sell” rating to a “hold” rating in a report on Monday, March 9th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Stellantis presently has a consensus rating of “Hold” and an average price target of $10.91.

Stellantis Profile

Stellantis N.V. is a global automotive manufacturer formed through the merger of Fiat Chrysler Automobiles (FCA) and Groupe PSA, a transaction completed in January 2021. The company designs, manufactures and sells a broad portfolio of passenger cars, light commercial vehicles and related powertrains under a large number of well-known brands, including (but not limited to) Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, Fiat, Jeep, Maserati, Opel, Peugeot, Ram and Vauxhall. Stellantis also provides parts, accessories, service operations and branded aftersales support through legacy networks such as Mopar and regional dealer ecosystems.

In addition to vehicle manufacturing, Stellantis operates mobility- and software-related businesses and financial services.