Connor Clark & Lunn Investment Management Ltd. Has $232.66 Million Stake in Celestica Inc. (NYSE:CLS)

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 19.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,524,198 shares of the technology company’s stock after selling 616,748 shares during the period. Celestica makes up about 1.1% of Connor Clark & Lunn Investment Management Ltd.’s portfolio, making the stock its 22nd largest position. Connor Clark & Lunn Investment Management Ltd. owned approximately 2.17% of Celestica worth $232,655,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. Peregrine Capital Management LLC purchased a new position in Celestica in the fourth quarter worth $30,000. Private Trust Co. NA increased its position in shares of Celestica by 480.0% during the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after purchasing an additional 720 shares during the last quarter. R Squared Ltd bought a new position in shares of Celestica during the fourth quarter valued at about $51,000. IFP Advisors Inc boosted its position in Celestica by 122.7% during the 4th quarter. IFP Advisors Inc now owns 668 shares of the technology company’s stock valued at $62,000 after buying an additional 368 shares during the period. Finally, UMB Bank n.a. boosted its holdings in Celestica by 43.6% in the fourth quarter. UMB Bank n.a. now owns 949 shares of the technology company’s stock valued at $88,000 after acquiring an additional 288 shares in the last quarter. Institutional investors own 67.38% of the company’s stock.

Wall Street Analyst Weigh In

CLS has been the topic of several analyst reports. Stifel Nicolaus upped their target price 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. 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 note on Thursday, February 13th. CIBC upgraded 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. Canaccord Genuity Group increased their price objective on Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, Royal Bank of Canada boosted their price target 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 investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $110.83.

Insider Activity at Celestica

In other news, insider Alok K. Agrawal sold 6,826 shares of the 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 completion of the transaction, the insider now directly owns 9,224 shares in the company, valued at approximately $1,235,278.08. This represents a 42.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael Wilson sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the completion of the transaction, the director now owns 1,784 shares in the company, valued at approximately $176,134.32. This represents a 93.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 959,381 shares of company stock valued at $119,142,019. Corporate insiders own 1.00% of the company’s stock.

Celestica Price Performance

Shares of Celestica stock opened at $86.73 on Wednesday. The business has a 50 day simple moving average of $110.87 and a two-hundred day simple moving average of $84.37. The stock has a market capitalization of $10.09 billion, a P/E ratio of 23.19 and a beta of 2.21. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. Celestica Inc. has a 12 month low of $40.25 and a 12 month high of $144.27.

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.