Louisbourg Investments Inc. Trims Stock Position in Celestica Inc. (NYSE:CLS)

Louisbourg Investments Inc. trimmed its stake in Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 35.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,100 shares of the technology company's stock after selling 17,600 shares during the quarter. Louisbourg Investments Inc.'s holdings in Celestica were worth $2,961,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Optimum Investment Advisors grew its holdings in shares of Celestica by 66.7% during the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company's stock valued at $26,000 after buying an additional 200 shares during the last quarter. Financial Management Professionals Inc. acquired a new position in shares of Celestica during the third quarter valued at about $30,000. UMB Bank n.a. acquired a new position in shares of Celestica during the third quarter valued at about $34,000. Private Trust Co. NA grew its holdings in shares of Celestica by 480.0% during the third quarter. Private Trust Co. NA now owns 870 shares of the technology company's stock valued at $44,000 after buying an additional 720 shares during the last quarter. Finally, Global Trust Asset Management LLC acquired a new position in shares of Celestica during the third quarter valued at about $51,000. 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 business's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total value of $914,137.92. Following the sale, the insider now owns 9,224 shares of the company's stock, valued at $1,235,278.08. The trade was a 42.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael Wilson sold 25,000 shares of the business's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the completion of the sale, the director now directly owns 1,784 shares in the company, valued at approximately $176,134.32. This trade represents a 93.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 959,381 shares of company stock valued at $119,142,019. Company insiders own 1.00% of the company's stock.

Celestica Stock Performance

CLS stock traded up $2.38 during mid-day trading on Friday, hitting $132.16. The company had a trading volume of 2,707,072 shares, compared to its average volume of 5,877,522. The firm has a market cap of $15.38 billion, a PE ratio of 35.34 and a beta of 2.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. Celestica Inc. has a 12 month low of $36.11 and a 12 month high of $144.27. The stock's fifty day moving average price is $107.15 and its two-hundred day moving average price is $77.41.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CLS. Barclays lifted their price objective on shares of Celestica from $139.00 to $157.00 and gave the company an "overweight" rating in a report on Thursday. TD Cowen lifted their price objective on shares of Celestica from $68.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, October 24th. BMO Capital Markets lifted their price objective on shares of Celestica from $64.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. CIBC upgraded shares of Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 price target on the stock in a report on Friday, January 31st. Finally, TD Securities boosted their price target on shares of Celestica from $70.00 to $107.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $104.91.

Celestica Profile

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.