Prudential Financial Inc. Has $2.99 Million Stock Position in Celestica Inc. (NYSE:CLS)

Prudential Financial Inc. lessened its stake in Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 42.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,399 shares of the technology company's stock after selling 23,606 shares during the quarter. Prudential Financial Inc.'s holdings in Celestica were worth $2,988,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Cornerstone Wealth Management LLC acquired a new position in shares of Celestica during the 4th quarter worth about $385,000. Raymond James Financial Inc. acquired a new position in Celestica during the fourth quarter valued at approximately $47,685,000. Schechter Investment Advisors LLC bought a new position in Celestica in the fourth quarter valued at approximately $294,000. XTX Topco Ltd acquired a new position in shares of Celestica during the 3rd quarter worth approximately $1,580,000. Finally, American Century Companies Inc. increased its position in shares of 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 purchasing an additional 30,851 shares during the last quarter. Institutional investors own 67.38% of the company's stock.

Insider Buying and Selling at Celestica

In other news, CEO Robert Mionis sold 52,588 shares of the business'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 $6,707,073.52. Following the completion of the transaction, the chief executive officer now owns 531,417 shares of the company's stock, valued at approximately $67,776,924.18. The trade was a 9.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mandeep Chawla sold 9,483 shares of Celestica stock in a transaction dated 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 approximately $11,576,933.34. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 959,381 shares of company stock valued at $119,142,019 in the last three months. Corporate insiders own 1.00% of the company's stock.

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Celestica Price Performance

Shares of NYSE CLS traded down $3.07 during midday trading on Friday, reaching $66.12. The company's stock had a trading volume of 9,751,663 shares, compared to its average volume of 2,948,531. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The company has a market cap of $7.67 billion, a P/E ratio of 17.68 and a beta of 2.09. The business's 50 day moving average price is $103.62 and its two-hundred day moving average price is $89.39. Celestica Inc. has a fifty-two week low of $40.25 and a fifty-two week high of $144.27.

Wall Street Analysts Forecast Growth

CLS has been the subject of several analyst reports. JPMorgan Chase & Co. assumed coverage on shares of Celestica in a research note on Friday, February 21st. They issued an "overweight" rating and a $166.00 target price for the company. TD Securities lifted their price target on Celestica from $70.00 to $107.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Stifel Nicolaus lifted their target price on Celestica from $140.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Cibc World Mkts raised Celestica from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. Finally, Barclays lifted their price objective on shares of Celestica from $139.00 to $157.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $110.83.

Celestica Company 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.