National Bank of Canada FI Boosts Stake in Celestica Inc. (NYSE:CLS)

National Bank of Canada FI raised its position in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 181.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 388,407 shares of the technology company’s stock after purchasing an additional 250,604 shares during the quarter. National Bank of Canada FI’s holdings in Celestica were worth $35,883,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of CLS. Norges Bank purchased a new position in Celestica in the fourth quarter valued at approximately $139,008,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Celestica by 64.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company’s stock valued at $329,460,000 after acquiring an additional 1,401,877 shares during the period. Whale Rock Capital Management LLC lifted its holdings in shares of Celestica by 13.0% during the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock valued at $432,846,000 after acquiring an additional 975,163 shares in the last quarter. Franklin Resources Inc. boosted its position in Celestica by 290.4% during the 4th quarter. Franklin Resources Inc. now owns 1,080,568 shares of the technology company’s stock worth $99,735,000 after purchasing an additional 803,780 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Celestica in the 4th quarter valued at $47,685,000. 67.38% of the stock is owned by institutional investors and hedge funds.

Celestica Stock Performance

Shares of CLS stock opened at $82.43 on Thursday. The stock has a market capitalization of $9.56 billion, a price-to-earnings ratio of 22.04 and a beta of 2.21. Celestica Inc. has a one year low of $40.25 and a one year high of $144.27. The company’s 50-day simple moving average is $105.80 and its 200-day simple moving average is $88.80. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47.

Insiders Place Their Bets

In related news, CEO Robert Mionis sold 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $141.29, for a total transaction of $10,596,750.00. Following the sale, the chief executive officer now directly owns 456,417 shares of the company’s stock, valued at approximately $64,487,157.93. This represents a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Alok K. Agrawal sold 6,826 shares of Celestica 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 of the company’s stock, valued at approximately $1,235,278.08. This represents a 42.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 959,381 shares of company stock valued at $119,142,019 in the last quarter. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on CLS. Canaccord Genuity Group boosted 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. Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. JPMorgan Chase & Co. started coverage on shares of Celestica in a research note on Friday, February 21st. They set an “overweight” rating and a $166.00 price objective on the stock. Stifel Nicolaus upped their target price on shares of Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, CIBC raised shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price target on the stock in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus 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.