Legal & General Group Plc Reduces Holdings in Celestica Inc. (NYSE:CLS)

Legal & General Group Plc decreased its holdings in Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 37.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 209,949 shares of the technology company's stock after selling 124,349 shares during the quarter. Legal & General Group Plc owned 0.18% of Celestica worth $19,366,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CLS. FMR LLC boosted its holdings in Celestica by 91.2% in the 4th quarter. FMR LLC now owns 11,688,700 shares of the technology company's stock worth $1,078,804,000 after buying an additional 5,574,342 shares during the last quarter. Norges Bank purchased a new stake in shares of Celestica in the 4th quarter valued at approximately $139,008,000. Arrowstreet Capital Limited Partnership lifted its stake in Celestica by 64.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company's stock worth $329,460,000 after purchasing an additional 1,401,877 shares in the last quarter. Franklin Resources Inc. lifted its stake in Celestica by 290.4% during the 4th quarter. Franklin Resources Inc. now owns 1,080,568 shares of the technology company's stock worth $99,735,000 after acquiring an additional 803,780 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Celestica in the fourth quarter valued at approximately $47,685,000. Hedge funds and other institutional investors own 67.38% of the company's stock.

Insider Buying and Selling at Celestica

In other news, CEO Robert Mionis sold 75,000 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $141.29, for a total transaction of $10,596,750.00. Following the completion of the sale, the chief executive officer now owns 456,417 shares in the company, valued at $64,487,157.93. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Todd C. Cooper sold 9,538 shares of the firm's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $127.54, for a total transaction of $1,216,476.52. Following the completion of the sale, the president now owns 175,426 shares of the company's stock, valued at $22,373,832.04. This trade represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 934,381 shares of company stock worth $116,673,769. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CLS shares. CIBC decreased their price objective on Celestica from $150.00 to $120.00 and set an "outperformer" rating for the company in a research note on Tuesday. Barclays boosted their price target on shares of Celestica from $139.00 to $157.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Cibc World Mkts upgraded shares of Celestica from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. JPMorgan Chase & Co. lowered their target price on shares of Celestica from $166.00 to $105.00 and set an "overweight" rating for the company in a research note on Thursday. Finally, Royal Bank of Canada lifted their price target on Celestica from $115.00 to $140.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $103.25.

Celestica Stock Performance

Shares of CLS traded up $3.56 during mid-day trading on Friday, reaching $84.12. 5,273,486 shares of the company's stock were exchanged, compared to its average volume of 3,096,858. The business's fifty day simple moving average is $94.54 and its 200-day simple moving average is $90.66. Celestica Inc. has a 52-week low of $40.25 and a 52-week high of $144.27. The stock has a market capitalization of $9.75 billion, a PE ratio of 22.49 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.

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.