Covestor Ltd Sells 1,949 Shares of Celestica Inc. (NYSE:CLS)

Covestor Ltd lowered its stake in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 48.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,038 shares of the technology company’s stock after selling 1,949 shares during the quarter. Covestor Ltd’s holdings in Celestica were worth $188,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CLS. Peregrine Capital Management LLC purchased a new position in Celestica during the 4th quarter valued at about $30,000. Pinpoint Asset Management Ltd grew its position in shares of Celestica by 109.6% in the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock worth $32,000 after buying an additional 182 shares during the last quarter. Bessemer Group Inc. purchased a new position in shares of Celestica during the fourth quarter valued at approximately $42,000. R Squared Ltd bought a new position in shares of Celestica during the fourth quarter valued at approximately $51,000. Finally, IFP Advisors Inc lifted its stake in Celestica by 122.7% in the fourth quarter. IFP Advisors Inc now owns 668 shares of the technology company’s stock worth $62,000 after acquiring an additional 368 shares during the period. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Stock Down 6.7 %

Shares of CLS stock opened at $76.52 on Friday. The company has a 50 day simple moving average of $99.77 and a two-hundred day simple moving average of $89.88. The stock has a market cap of $8.87 billion, a P/E ratio of 20.46 and a beta of 2.09. Celestica Inc. has a 12 month low of $40.25 and a 12 month high of $144.27. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49.

Insider Transactions at Celestica

In other news, CEO Robert Mionis sold 441,325 shares of Celestica stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $122.28, for a total transaction of $53,965,221.00. Following the transaction, the chief executive officer now directly owns 531,417 shares of the company’s stock, valued at $64,981,670.76. The trade was a 45.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Yann L. Etienvre sold 9,181 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $127.54, for a total transaction of $1,170,944.74. Following the completion of the sale, the insider now directly owns 83,179 shares of the company’s stock, valued at $10,608,649.66. This represents a 9.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 934,381 shares of company stock worth $116,673,769 in the last three months. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CLS. CIBC raised shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price objective on the stock in a research report on Friday, January 31st. Cibc World Mkts raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. initiated coverage on shares of Celestica in a report on Friday, February 21st. They issued an “overweight” rating and a $166.00 price objective for the company. TD Securities upped their target price on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Finally, Royal Bank of Canada raised their target price on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $110.83.

Celestica Company Profile

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through two segments: Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.