Renaissance Group LLC Decreases Stock Holdings in Celestica Inc. (NYSE:CLS)

Renaissance Group LLC cut its stake in shares of Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 26.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 42,582 shares of the technology company's stock after selling 15,169 shares during the quarter. Renaissance Group LLC's holdings in Celestica were worth $3,930,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CLS. 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 in the fourth quarter valued at approximately $47,685,000. Schechter Investment Advisors LLC purchased a new position in Celestica in the fourth quarter valued at approximately $294,000. American Century Companies Inc. raised its holdings in Celestica by 16.4% during the fourth 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 in the last quarter. Finally, Fruth Investment Management acquired a new stake in Celestica during the fourth quarter worth approximately $286,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Celestica

In related news, President Todd C. Cooper sold 65,000 shares of the firm's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $129.78, for a total value of $8,435,700.00. Following the completion of the sale, the president now owns 110,426 shares in the company, valued at $14,331,086.28. This trade represents a 37.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Yann L. Etienvre sold 9,181 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $1,170,944.74. Following the transaction, the insider now owns 83,179 shares in the company, valued at $10,608,649.66. The trade was a 9.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 934,381 shares of company stock worth $116,673,769. Company insiders own 1.00% of the company's stock.

Remove Ads

Celestica Stock Performance

NYSE:CLS traded up $2.65 during midday trading on Friday, reaching $79.13. The stock had a trading volume of 5,844,405 shares, compared to its average volume of 3,055,956. 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 stock has a market cap of $9.18 billion, a P/E ratio of 21.16 and a beta of 2.09. The firm has a fifty day simple moving average of $98.70 and a two-hundred day simple moving average of $90.34. Celestica Inc. has a 12-month low of $40.25 and a 12-month high of $144.27.

Wall Street Analysts Forecast Growth

CLS has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their target price on shares of Celestica from $140.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. TD Securities raised their price objective on Celestica from $70.00 to $107.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. started coverage on Celestica in a research report on Friday, February 21st. They set an "overweight" rating and a $166.00 target price on the stock. Barclays upped their target price on Celestica from $139.00 to $157.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Finally, CIBC raised Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 price target on the stock in a research report on Friday, January 31st. Two research 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 company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $110.83.

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.