M&T Bank Corp Takes $644,000 Position in Stellantis (NASDAQ:STLA)

M&T Bank Corp purchased a new stake in shares of Stellantis (NASDAQ:STLAGet Rating) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 52,287 shares of the company’s stock, valued at approximately $644,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Capital World Investors increased its holdings in Stellantis by 5.8% in the first quarter. Capital World Investors now owns 84,503,092 shares of the company’s stock valued at $1,368,758,000 after purchasing an additional 4,658,513 shares during the last quarter. Vanguard Group Inc. increased its holdings in Stellantis by 3.1% in the first quarter. Vanguard Group Inc. now owns 70,191,926 shares of the company’s stock valued at $1,142,023,000 after purchasing an additional 2,135,875 shares during the last quarter. Bank of Italy increased its holdings in Stellantis by 17.8% in the second quarter. Bank of Italy now owns 35,437,872 shares of the company’s stock valued at $434,055,000 after purchasing an additional 5,365,181 shares during the last quarter. Thornburg Investment Management Inc. increased its holdings in Stellantis by 79.7% in the first quarter. Thornburg Investment Management Inc. now owns 5,330,878 shares of the company’s stock valued at $87,286,000 after purchasing an additional 2,363,728 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. increased its holdings in Stellantis by 8.6% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 4,869,127 shares of the company’s stock valued at $79,988,000 after purchasing an additional 387,235 shares during the last quarter. Institutional investors own 31.79% of the company’s stock.

Stellantis Price Performance

NASDAQ:STLA opened at $14.87 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.31. Stellantis has a 52-week low of $11.37 and a 52-week high of $21.92. The stock has a 50-day simple moving average of $12.97 and a 200 day simple moving average of $13.47.

Wall Street Analysts Forecast Growth

STLA has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their price objective on Stellantis from €19.00 ($19.00) to €21.00 ($21.00) and gave the company a “sector perform” rating in a report on Tuesday, August 2nd. Nomura upgraded Stellantis from a “neutral” rating to a “buy” rating in a report on Thursday, October 20th. Berenberg Bank lowered their price target on Stellantis from €21.00 ($21.00) to €19.00 ($19.00) in a report on Friday, October 14th. Finally, Nomura Instinet upgraded Stellantis from a “neutral” rating to a “buy” rating in a report on Thursday, October 20th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Stellantis currently has a consensus rating of “Moderate Buy” and an average price target of $21.14.

Stellantis Company Profile

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Stellantis N.V. engages in the design, engineering, manufacturing, distribution, and sale of automobiles and light commercial vehicles, engines, transmission systems, metallurgical products, and production systems worldwide. It provides luxury, premium, and mainstream passenger vehicles; pickup trucks, sport utility vehicles, and commercial vehicles; and parts and services, as well as retail and dealer financing, leasing, and rental services.

See Also

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Institutional Ownership by Quarter for Stellantis (NASDAQ:STLA)

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