Rockland Trust Co. Reduces Stake in Celestica, Inc. $CLS

Rockland Trust Co. reduced its holdings in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 50.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,312 shares of the technology company’s stock after selling 2,312 shares during the quarter. Rockland Trust Co.’s holdings in Celestica were worth $683,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Celestica by 42.5% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after acquiring an additional 37 shares in the last quarter. First Horizon Corp purchased a new stake in Celestica in the third quarter worth $31,000. Twin Peaks Wealth Advisors LLC bought a new stake in Celestica in the second quarter valued at $40,000. Avion Wealth bought a new stake in Celestica in the third quarter valued at $40,000. Finally, Fifth Third Bancorp increased its position in Celestica by 48.7% during the 3rd 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 period. 67.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Yann L. Etienvre sold 86,229 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $287.45, for a total transaction of $24,786,526.05. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Todd C. Cooper sold 89,484 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $287.45, for a total transaction of $25,722,175.80. Following the completion of the sale, the president owned 108,970 shares in the company, valued at approximately $31,323,426.50. This trade represents a 45.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 297,923 shares of company stock worth $88,027,459 in the last three months. 0.52% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on CLS shares. Weiss Ratings restated a “buy (b)” rating on shares of Celestica in a report on Wednesday, January 21st. Wall Street Zen upgraded shares of Celestica from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. BMO Capital Markets reissued an “outperform” rating on shares of Celestica in a research note on Monday, January 26th. Citigroup lowered their price objective on shares of Celestica from $375.00 to $338.00 and set a “buy” rating for the company in a report on Friday, January 30th. Finally, Susquehanna began coverage on Celestica in a research report on Wednesday. They set a “positive” rating and a $375.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Celestica presently has an average rating of “Moderate Buy” and a consensus price target of $355.39.

Celestica Stock Performance

Shares of Celestica stock opened at $288.64 on Thursday. Celestica, Inc. has a 12 month low of $58.05 and a 12 month high of $363.40. The firm has a market capitalization of $33.18 billion, a P/E ratio of 40.20 and a beta of 1.88. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The business has a fifty day simple moving average of $285.44 and a two-hundred day simple moving average of $292.33.

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.