NewEdge Advisors LLC Grows Stock Position in Celestica Inc. (NYSE:CLS)

NewEdge Advisors LLC increased its stake in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 5.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,400 shares of the technology company’s stock after purchasing an additional 281 shares during the quarter. NewEdge Advisors LLC’s holdings in Celestica were worth $498,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. FMR LLC grew its position in shares of Celestica by 91.2% during the fourth quarter. FMR LLC now owns 11,688,700 shares of the technology company’s stock worth $1,078,804,000 after buying an additional 5,574,342 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Celestica by 64.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company’s stock worth $329,460,000 after acquiring an additional 1,401,877 shares in the last quarter. FIL Ltd increased its position in shares of Celestica by 5,976.1% in the 4th quarter. FIL Ltd now owns 3,463,729 shares of the technology company’s stock valued at $319,662,000 after purchasing an additional 3,406,723 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Celestica by 20.2% in the 4th quarter. Invesco Ltd. now owns 2,942,816 shares of the technology company’s stock valued at $271,622,000 after purchasing an additional 494,542 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Celestica during the 4th quarter worth $139,008,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Insider Activity at Celestica

In other Celestica news, CFO Mandeep Chawla sold 9,483 shares of Celestica stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $1,209,461.82. Following the sale, the chief financial officer now owns 90,771 shares of the company’s stock, valued at approximately $11,576,933.34. The trade was a 9.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Todd C. Cooper sold 9,538 shares of Celestica stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $127.54, for a total value of $1,216,476.52. Following the completion of the sale, the president now directly owns 175,426 shares in the company, valued at $22,373,832.04. This represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 934,381 shares of company stock worth $116,673,769 in the last quarter. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

CLS has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut their price target on Celestica from $166.00 to $105.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. TD Securities boosted their target price on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Royal Bank of Canada cut their price objective on shares of Celestica from $160.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. Cibc World Mkts upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Finally, Stifel Nicolaus increased their target price on shares of Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $106.00.

Celestica Stock Performance

Shares of CLS stock opened at $89.13 on Monday. The stock has a market capitalization of $10.34 billion, a PE ratio of 23.83 and a beta of 2.09. Celestica Inc. has a 52-week low of $40.25 and a 52-week high of $144.27. The stock’s 50-day moving average price is $89.22 and its 200 day moving average price is $92.50. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

Celestica 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.