Grantham Mayo Van Otterloo & Co. LLC cut its holdings in shares of Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 36.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 368,442 shares of the technology company's stock after selling 210,961 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned about 0.32% of Celestica worth $33,998,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cornerstone Wealth Management LLC bought a new position in shares of Celestica in the fourth quarter worth about $385,000. Raymond James Financial Inc. acquired a new stake in shares of Celestica in the fourth quarter valued at approximately $47,685,000. Schechter Investment Advisors LLC bought a new position in Celestica in the 4th quarter worth approximately $294,000. XTX Topco Ltd bought a new position in Celestica in the 3rd quarter worth approximately $1,580,000. Finally, American Century Companies Inc. lifted its holdings in Celestica by 16.4% during the 4th quarter. American Century Companies Inc. now owns 219,062 shares of the technology company's stock worth $20,217,000 after buying an additional 30,851 shares in the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, CFO Mandeep Chawla sold 9,483 shares of the company's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $127.54, for a total value of $1,209,461.82. Following the completion of the transaction, the chief financial officer now owns 90,771 shares in the company, valued at $11,576,933.34. This represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alok K. Agrawal sold 6,826 shares of the firm's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $133.92, for a total transaction of $914,137.92. Following the sale, the insider now owns 9,224 shares in the company, valued at approximately $1,235,278.08. The trade was a 42.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 934,381 shares of company stock worth $116,673,769 over the last ninety days. 1.00% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
CLS has been the subject of a number of recent research reports. CIBC upgraded Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 target price for the company in a research report on Friday, January 31st. JPMorgan Chase & Co. started coverage on Celestica in a report on Friday, February 21st. They set an "overweight" rating and a $166.00 price objective for the company. TD Securities raised their target price on shares of Celestica from $70.00 to $107.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. 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. Finally, Royal Bank of Canada increased their price objective on shares of Celestica from $115.00 to $140.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $110.83.
Read Our Latest Stock Analysis on Celestica
Celestica Trading Up 19.3 %
Celestica stock traded up $13.30 during mid-day trading on Wednesday, hitting $82.15. 9,566,412 shares of the company's stock were exchanged, compared to its average volume of 3,019,528. The company's 50 day simple moving average is $100.65 and its 200-day simple moving average is $89.70. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $9.53 billion, a P/E ratio of 21.97 and a beta of 2.09. Celestica Inc. has a fifty-two week low of $40.25 and a fifty-two week high of $144.27.
About Celestica
(
Free Report)
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.
Further Reading
Before you consider Celestica, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Celestica wasn't on the list.
While Celestica currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
