CI Investments Inc. Trims Stock Position in Celestica, Inc. $CLS

CI Investments Inc. cut its stake in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 5.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 101,691 shares of the technology company’s stock after selling 5,400 shares during the quarter. CI Investments Inc.’s holdings in Celestica were worth $25,055,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CLS. Vanguard Group Inc. raised its stake in Celestica by 2.1% in the third quarter. Vanguard Group Inc. now owns 4,738,673 shares of the technology company’s stock worth $1,166,093,000 after buying an additional 97,755 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Celestica by 25.8% in the 2nd quarter. Franklin Resources Inc. now owns 1,833,205 shares of the technology company’s stock worth $286,184,000 after acquiring an additional 375,910 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Celestica by 17.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,733,686 shares of the technology company’s stock worth $271,045,000 after acquiring an additional 259,504 shares in the last quarter. Norges Bank purchased a new position in shares of Celestica in the 2nd quarter valued at approximately $236,069,000. Finally, Geode Capital Management LLC boosted its position in shares of Celestica by 27.6% during the second quarter. Geode Capital Management LLC now owns 962,521 shares of the technology company’s stock valued at $153,449,000 after purchasing an additional 208,249 shares in the last quarter. Institutional investors own 67.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Celestica in a report on Wednesday, January 21st. TD Securities increased their price target on shares of Celestica from $305.00 to $330.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. TD Cowen reissued a “hold” rating on shares of Celestica in a research report on Friday, January 30th. Aletheia Capital upped their price objective on shares of Celestica from $330.00 to $410.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Finally, Wall Street Zen raised shares of Celestica from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $356.59.

Insider Buying and Selling at Celestica

In other Celestica news, President Todd C. Cooper sold 1,065 shares of Celestica stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $283.51, for a total value of $301,938.15. Following the completion of the sale, the president owned 108,970 shares of the company’s stock, valued at approximately $30,894,084.70. This trade represents a 0.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Yann L. Etienvre sold 1,145 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $283.51, for a total value of $324,618.95. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 297,923 shares of company stock worth $88,027,459. Insiders own 0.52% of the company’s stock.

Celestica Trading Down 3.9%

NYSE:CLS opened at $256.61 on Wednesday. The stock has a market cap of $29.52 billion, a price-to-earnings ratio of 35.74 and a beta of 1.88. The company has a quick ratio of 0.88, a current ratio of 1.47 and a debt-to-equity ratio of 0.37. The company’s 50 day moving average price is $298.60 and its 200-day moving average price is $283.58. Celestica, Inc. has a 52 week low of $58.05 and a 52 week high of $363.40.

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.