WCM Investment Management LLC Reduces Stock Position in Celestica Inc. (NYSE:CLS)

WCM Investment Management LLC lessened its stake in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 17.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,835,898 shares of the technology company’s stock after selling 375,179 shares during the quarter. WCM Investment Management LLC owned approximately 1.58% of Celestica worth $172,244,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Creative Planning boosted its stake in Celestica by 4.7% in the 2nd quarter. Creative Planning now owns 7,526 shares of the technology company’s stock worth $431,000 after buying an additional 336 shares during the last quarter. Truist Financial Corp boosted its stake in Celestica by 2.0% in the 2nd quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock worth $631,000 after buying an additional 214 shares during the last quarter. Cetera Investment Advisers boosted its stake in Celestica by 119.5% in the 2nd quarter. Cetera Investment Advisers now owns 26,271 shares of the technology company’s stock worth $1,504,000 after buying an additional 14,305 shares during the last quarter. UMB Bank n.a. acquired a new stake in Celestica in the 3rd quarter worth about $34,000. Finally, Oliver Luxxe Assets LLC acquired a new stake in Celestica in the 3rd quarter worth about $4,566,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Stock Performance

Shares of NYSE:CLS opened at $129.74 on Friday. The company has a market cap of $15.10 billion, a P/E ratio of 34.69 and a beta of 2.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. Celestica Inc. has a one year low of $36.00 and a one year high of $144.27. The business’s 50-day simple moving average is $103.20 and its 200 day simple moving average is $74.75.

Insiders Place Their Bets

In other Celestica news, Director Michael Wilson sold 25,000 shares of Celestica 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 sale, the director now directly owns 1,784 shares in the company, valued at $176,134.32. The trade was a 93.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Mionis sold 441,325 shares of Celestica stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $122.28, for a total value of $53,965,221.00. Following the sale, the chief executive officer now owns 531,417 shares in the company, valued at $64,981,670.76. This represents a 45.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 894,381 shares of company stock worth $110,706,319 in the last three months. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on CLS shares. BMO Capital Markets raised their price target on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Barclays raised their price target on Celestica from $91.00 to $139.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. UBS Group initiated coverage on Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price objective on the stock. Royal Bank of Canada lifted their price objective on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Finally, Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Celestica has an average rating of “Moderate Buy” and a consensus target price of $103.27.

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.