Citigroup Inc. Trims Holdings in Celestica, Inc. $CLS

Citigroup Inc. lowered its stake in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 40.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 58,393 shares of the technology company’s stock after selling 40,407 shares during the period. Citigroup Inc.’s holdings in Celestica were worth $14,372,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Thompson Davis & CO. Inc. purchased a new position in shares of Celestica during the 2nd quarter worth $328,000. Allianz Asset Management GmbH raised its holdings in Celestica by 7.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 337,397 shares of the technology company’s stock valued at $83,044,000 after buying an additional 22,863 shares during the period. Light Street Capital Management LLC acquired a new position in Celestica in the second quarter valued at about $26,422,000. TD Waterhouse Canada Inc. boosted its stake in Celestica by 2.2% during the second quarter. TD Waterhouse Canada Inc. now owns 150,422 shares of the technology company’s stock worth $22,356,000 after buying an additional 3,221 shares during the period. Finally, Plato Investment Management Ltd increased its position in shares of Celestica by 154.5% during the third quarter. Plato Investment Management Ltd now owns 15,046 shares of the technology company’s stock valued at $3,676,000 after acquiring an additional 9,135 shares during the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CLS has been the topic of several recent analyst reports. 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. TD Cowen reissued a “hold” rating on shares of Celestica in a research report on Friday, January 30th. Royal Bank Of Canada restated an “outperform” rating and set a $400.00 price target on shares of Celestica in a research report on Thursday, January 22nd. BMO Capital Markets reaffirmed an “outperform” rating on shares of Celestica in a research note on Monday, January 26th. Finally, TD Securities increased their target price on Celestica from $305.00 to $330.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Celestica has an average rating of “Moderate Buy” and a consensus target price of $356.59.

Insider Buying and Selling at Celestica

In other Celestica news, insider Yann L. Etienvre sold 1,145 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $283.51, for a total value of $324,618.95. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President Todd C. Cooper sold 1,065 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $283.51, for a total value of $301,938.15. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 297,923 shares of company stock valued at $88,027,459 in the last quarter. Corporate insiders own 0.52% of the company’s stock.

Celestica Stock Down 0.6%

Celestica stock opened at $277.43 on Friday. The firm has a market capitalization of $31.92 billion, a P/E ratio of 38.64 and a beta of 1.86. The company has a current ratio of 1.47, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. Celestica, Inc. has a twelve month low of $58.05 and a twelve month high of $363.40. The stock’s fifty day simple moving average is $300.32 and its 200-day simple moving average is $281.63.

About Celestica

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.