Canada Pension Plan Investment Board Acquires New Holdings in Celestica Inc. (NYSE:CLS)

Canada Pension Plan Investment Board bought a new position in shares of Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 80,000 shares of the technology company's stock, valued at approximately $7,374,000. Canada Pension Plan Investment Board owned 0.07% of Celestica at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Peregrine Capital Management LLC purchased a new position in shares of Celestica during the 4th quarter worth approximately $30,000. Pinpoint Asset Management Ltd boosted its position in shares of Celestica by 109.6% during the fourth quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company's stock worth $32,000 after buying an additional 182 shares during the period. Bessemer Group Inc. acquired a new stake in shares of Celestica in the fourth quarter valued at $42,000. R Squared Ltd purchased a new stake in shares of Celestica in the 4th quarter valued at $51,000. Finally, IFP Advisors Inc lifted its stake in Celestica by 122.7% during the 4th quarter. IFP Advisors Inc now owns 668 shares of the technology company's stock worth $62,000 after acquiring an additional 368 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Alok K. Agrawal sold 6,826 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $133.92, for a total value of $914,137.92. Following the completion of the sale, the insider now directly owns 9,224 shares of the company's stock, valued at approximately $1,235,278.08. This represents a 42.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert Mionis sold 52,588 shares of Celestica stock in a transaction on Friday, January 31st. The shares were sold at an average price of $127.54, for a total transaction of $6,707,073.52. Following the completion of the transaction, the chief executive officer now directly owns 531,417 shares in the company, valued at $67,776,924.18. The trade was a 9.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 934,381 shares of company stock valued at $116,673,769. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CLS has been the topic of a number of recent research reports. Stifel Nicolaus boosted their price target on shares of Celestica from $140.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Barclays raised their price target on shares of Celestica from $139.00 to $157.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Royal Bank of Canada increased their price objective on Celestica from $115.00 to $140.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. Cibc World Mkts upgraded Celestica from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. Finally, TD Securities lifted their price objective on Celestica from $70.00 to $107.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Celestica currently has an average rating of "Moderate Buy" and a consensus price target of $103.25.

Celestica Price Performance

Shares of NYSE:CLS opened at $80.61 on Tuesday. Celestica Inc. has a 12 month low of $40.25 and a 12 month high of $144.27. The firm has a market capitalization of $9.35 billion, a P/E ratio of 21.55 and a beta of 2.09. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The company's fifty day moving average price is $92.71 and its 200 day moving average price is $91.64.

About Celestica

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through two segments: Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.

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