Swiss Life Asset Management Ltd Sells 2,276 Shares of Celestica, Inc. $CLS

Swiss Life Asset Management Ltd lowered its position in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 8.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 24,826 shares of the technology company’s stock after selling 2,276 shares during the period. Swiss Life Asset Management Ltd’s holdings in Celestica were worth $6,116,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC raised its position in shares of Celestica by 29.5% during the third quarter. CIBC Private Wealth Group LLC now owns 3,005 shares of the technology company’s stock valued at $740,000 after buying an additional 684 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new stake in shares of Celestica in the third quarter worth about $946,000. Tcfg Wealth Management LLC bought a new position in Celestica during the third quarter valued at approximately $285,000. Coldstream Capital Management Inc. bought a new position in Celestica during the third quarter valued at approximately $213,000. Finally, Advisory Services Network LLC grew its holdings in Celestica by 4.5% during the 3rd quarter. Advisory Services Network LLC now owns 29,264 shares of the technology company’s stock valued at $7,210,000 after buying an additional 1,263 shares in the last quarter. Institutional investors own 67.38% of the company’s stock.

Celestica Price Performance

CLS stock opened at $268.69 on Friday. The stock has a market cap of $30.91 billion, a PE ratio of 37.42 and a beta of 1.88. Celestica, Inc. has a 12 month low of $58.05 and a 12 month high of $363.40. The company has a 50-day moving average price of $290.27 and a 200 day moving average price of $289.77. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34.

Insider Buying and Selling

In related news, insider Yann L. Etienvre sold 1,145 shares of Celestica stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $283.51, for a total transaction of $324,618.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Jason Phillips sold 100,000 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $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. In the last three months, insiders sold 297,923 shares of company stock valued at $88,027,459. Insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on CLS. Citigroup lowered their target price on Celestica from $375.00 to $338.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Barclays boosted their price target on shares of Celestica from $359.00 to $391.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. TD Cowen reaffirmed a “hold” rating on shares of Celestica in a research note on Friday, January 30th. BMO Capital Markets reiterated an “outperform” rating on shares of Celestica in a research report on Monday, January 26th. Finally, Bank of America started coverage on shares of Celestica in a research note on Wednesday, January 28th. They issued a “buy” rating and a $400.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $354.24.

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.