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

HITE Hedge Asset Management LLC grew its stake in shares of Stellantis N.V. (NYSE:STLA) by 72.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 797,453 shares of the company’s stock after buying an additional 336,154 shares during the quarter. HITE Hedge Asset Management LLC’s holdings in Stellantis were worth $8,684,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in STLA. Capital Research Global Investors increased its stake in Stellantis by 34.9% in the fourth quarter. Capital Research Global Investors now owns 4,236,161 shares of the company’s stock valued at $46,769,000 after acquiring an additional 1,096,413 shares during the last quarter. Norges Bank bought a new position in Stellantis in the fourth quarter valued at $553,692,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Stellantis by 19.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,803,310 shares of the company’s stock valued at $19,908,000 after acquiring an additional 298,611 shares during the last quarter. Leonteq Securities AG bought a new position in Stellantis in the fourth quarter valued at $77,209,000. Finally, Compagnie Lombard Odier SCmA increased its stake in Stellantis by 440.1% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 250,022 shares of the company’s stock valued at $2,778,000 after acquiring an additional 203,731 shares during the last quarter. Hedge funds and other institutional investors own 59.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on STLA shares. TD Cowen reissued a “hold” rating on shares of Stellantis in a research note on Friday, May 22nd. Citigroup reissued a “neutral” rating on shares of Stellantis in a research note on Tuesday. Kepler Capital Markets cut Stellantis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 16th. Freedom Capital raised Stellantis from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Bank of America cut Stellantis from a “neutral” rating to an “underperform” rating in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Stellantis has an average rating of “Hold” and a consensus price target of $10.91.

Stellantis Stock Down 0.2%

Shares of NYSE:STLA opened at $6.88 on Friday. The stock’s 50-day moving average price is $7.70 and its 200-day moving average price is $8.72. Stellantis N.V. has a 12-month low of $6.28 and a 12-month high of $12.22. The stock has a market capitalization of $25.88 billion, a P/E ratio of 27.50, a price-to-earnings-growth ratio of 0.44 and a beta of 1.41. The company has a current ratio of 1.03, a quick ratio of 0.75 and a debt-to-equity ratio of 0.50.

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

Stellantis Company 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.