NorthCrest Asset Manangement LLC Decreases Stake in Celestica, Inc. $CLS

NorthCrest Asset Manangement LLC cut its holdings in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 21.8% in the 4th quarter, Holdings Channel reports. The fund owned 10,300 shares of the technology company’s stock after selling 2,870 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Celestica were worth $3,020,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in Celestica by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 4,738,673 shares of the technology company’s stock valued at $1,166,093,000 after purchasing an additional 97,755 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Celestica by 471.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,146,928 shares of the technology company’s stock valued at $775,133,000 after buying an additional 2,596,318 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Celestica by 4.8% during the third quarter. Franklin Resources Inc. now owns 1,921,417 shares of the technology company’s stock worth $473,386,000 after buying an additional 88,212 shares in the last quarter. Viking Global Investors LP acquired a new stake in shares of Celestica during the third quarter worth approximately $424,459,000. Finally, Norges Bank bought a new stake in shares of Celestica in the second quarter worth $236,069,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Celestica Trading Down 5.5%

NYSE CLS opened at $268.69 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 1.44. Celestica, Inc. has a one year low of $58.05 and a one year high of $363.40. The company has a 50-day simple moving average of $290.27 and a 200-day simple moving average of $290.32. The firm has a market capitalization of $30.91 billion, a PE ratio of 37.42 and a beta of 1.88.

Wall Street Analysts Forecast Growth

CLS has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Celestica in a research note on Wednesday, January 21st. Canadian Imperial Bank of Commerce cut their target price on shares of Celestica from $400.00 to $360.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 11th. Bank of America started coverage on shares of Celestica in a research report on Wednesday, January 28th. They set a “buy” rating and a $400.00 price target on the stock. Citigroup lowered their price objective on Celestica from $375.00 to $338.00 and set a “buy” rating for the company in a report on Friday, January 30th. Finally, Aletheia Capital increased their target price on Celestica from $330.00 to $410.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $354.24.

Insiders Place Their Bets

In other Celestica news, President Todd C. Cooper sold 89,484 shares of Celestica stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $287.45, for a total value of $25,722,175.80. Following the completion of the transaction, the president directly owned 108,970 shares in the company, valued at $31,323,426.50. The trade was a 45.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Yann L. Etienvre sold 86,229 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $287.45, for a total value of $24,786,526.05. 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 over the last quarter. Insiders own 0.52% of the company’s stock.

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.