Capital Group Private Client Services Inc. Invests $17.89 Million in Stellantis (NYSE:STLA)

Capital Group Private Client Services Inc. purchased a new position in Stellantis (NYSE:STLA) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 629,589 shares of the company’s stock, valued at approximately $17,894,000.

A number of other institutional investors have also recently made changes to their positions in STLA. Vanguard Group Inc. boosted its stake in Stellantis by 1.2% during the first quarter. Vanguard Group Inc. now owns 83,818,351 shares of the company’s stock worth $2,372,059,000 after buying an additional 972,232 shares during the last quarter. Norges Bank acquired a new position in Stellantis during the fourth quarter worth $832,785,000. Bank of New York Mellon Corp boosted its stake in Stellantis by 5.0% during the first quarter. Bank of New York Mellon Corp now owns 11,532,856 shares of the company’s stock worth $326,380,000 after buying an additional 548,929 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Stellantis by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,514,872 shares of the company’s stock worth $175,249,000 after buying an additional 214,654 shares during the last quarter. Finally, M&G Plc acquired a new position in Stellantis during the first quarter worth $128,254,000. 59.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Morgan Stanley boosted their price objective on Stellantis from $26.00 to $30.40 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Sanford C. Bernstein started coverage on Stellantis in a research report on Friday, June 28th. They issued a “market perform” rating and a $23.50 target price on the stock. Finally, Barclays upgraded Stellantis to a “strong-buy” rating in a research report on Monday, June 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.55.

Stellantis Price Performance

STLA traded down $0.42 on Friday, hitting $17.67. 12,014,053 shares of the company were exchanged, compared to its average volume of 6,012,990. Stellantis has a twelve month low of $17.42 and a twelve month high of $29.51. The company has a current ratio of 1.24, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average price of $20.76 and a two-hundred day moving average price of $23.47.

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.