Celestica, Inc. $CLS Position Trimmed by Wealth High Governance Capital Ltda

Wealth High Governance Capital Ltda reduced its holdings in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 58.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 36,000 shares of the technology company’s stock after selling 50,800 shares during the quarter. Celestica makes up 2.5% of Wealth High Governance Capital Ltda’s portfolio, making the stock its 14th biggest position. Wealth High Governance Capital Ltda’s holdings in Celestica were worth $8,870,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CLS. MassMutual Private Wealth & Trust FSB raised its stake in Celestica by 42.5% during 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 bought a new position in Celestica in the third quarter worth about $31,000. Twin Peaks Wealth Advisors LLC acquired a new position in Celestica in the second quarter valued at approximately $40,000. Avion Wealth bought a new position in shares of Celestica during the third quarter valued at approximately $40,000. Finally, Fifth Third Bancorp grew its holdings in shares of Celestica by 48.7% during the third quarter. Fifth Third Bancorp now owns 171 shares of the technology company’s stock valued at $42,000 after purchasing an additional 56 shares during the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, President Jason Phillips sold 100,000 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $308.92, for a total transaction of $30,892,000.00. Following the transaction, the president directly owned 12,584 shares of the company’s stock, valued at approximately $3,887,449.28. This trade represents a 88.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Todd C. Cooper sold 89,484 shares of Celestica stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $287.45, for a total transaction of $25,722,175.80. Following the sale, the president owned 108,970 shares in the company, valued at approximately $31,323,426.50. This represents a 45.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 297,923 shares of company stock worth $88,027,459. 0.52% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Barclays raised their price target on Celestica from $359.00 to $391.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Zacks Research upgraded Celestica from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 5th. Wolfe Research upgraded Celestica to a “strong-buy” rating in a research note on Tuesday, February 17th. Royal Bank Of Canada reissued an “outperform” rating and set a $400.00 price target on shares of Celestica in a report on Thursday, January 22nd. Finally, TD Securities upped their price target on shares of Celestica from $305.00 to $330.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $354.24.

Celestica Stock Performance

Shares of NYSE CLS traded up $2.00 during midday trading on Friday, hitting $266.89. 329,161 shares of the company’s stock were exchanged, compared to its average volume of 2,719,852. Celestica, Inc. has a twelve month low of $58.05 and a twelve month high of $363.40. The firm has a market cap of $30.70 billion, a P/E ratio of 37.14 and a beta of 1.88. The stock’s 50 day moving average price is $293.34 and its 200-day moving average price is $286.04. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.44 and a quick ratio of 0.88.

Celestica Company 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.