Wesbanco Bank Inc. Sells 7,070 Shares of Celestica, Inc. $CLS

Wesbanco Bank Inc. cut its holdings in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 41.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,930 shares of the technology company’s stock after selling 7,070 shares during the quarter. Wesbanco Bank Inc.’s holdings in Celestica were worth $2,447,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Golden State Wealth Management LLC grew its position in Celestica by 102.5% during the second quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock valued at $26,000 after buying an additional 83 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in Celestica by 42.5% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock worth $31,000 after acquiring an additional 37 shares during the period. First Horizon Corp purchased a new position in Celestica in the third quarter valued at about $31,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Celestica during the 2nd quarter valued at approximately $40,000. Finally, Avion Wealth bought a new position in shares of Celestica during the 3rd quarter valued at approximately $40,000. 67.38% of the stock is currently owned by institutional investors.

Insider Activity

In other news, President Todd C. Cooper sold 1,065 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $283.51, for a total value of $301,938.15. Following the sale, the president directly owned 108,970 shares of the company’s stock, valued at approximately $30,894,084.70. This represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Jason Phillips sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $308.92, for a total transaction of $30,892,000.00. Following the completion of the transaction, the president owned 12,584 shares of the company’s stock, valued at $3,887,449.28. This trade represents a 88.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 297,923 shares of company stock worth $88,027,459 over the last ninety days. Company insiders own 0.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CLS. Canaccord Genuity Group lifted their price target on shares of Celestica from $400.00 to $430.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Canadian Imperial Bank of Commerce raised their target price on Celestica from $315.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Aletheia Capital boosted their target price on Celestica from $330.00 to $410.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. BMO Capital Markets reiterated an “outperform” rating on shares of Celestica in a research note on Monday, January 26th. Finally, JPMorgan Chase & Co. lifted their price objective on Celestica from $295.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Celestica presently has a consensus rating of “Moderate Buy” and a consensus price target of $356.59.

Celestica Price Performance

Celestica stock opened at $297.79 on Wednesday. The firm has a market capitalization of $34.26 billion, a P/E ratio of 41.47 and a beta of 1.86. Celestica, Inc. has a one year low of $58.05 and a one year high of $363.40. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 0.88. The business has a fifty day moving average price of $307.04 and a 200-day moving average price of $274.63.

Celestica Profile

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.