Celestica Inc. (NYSE:CLS) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 19.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,524,198 shares of the technology company’s stock after selling 616,748 shares during the period. Celestica accounts for 1.1% of Connor Clark & Lunn Investment Management Ltd.’s investment portfolio, making the stock its 22nd biggest holding. Connor Clark & Lunn Investment Management Ltd.’s holdings in Celestica were worth $232,655,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CLS. Avantax Advisory Services Inc. raised its holdings in shares of Celestica by 17.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 13,283 shares of the technology company’s stock valued at $1,226,000 after buying an additional 1,995 shares during the last quarter. Truvestments Capital LLC increased its holdings in shares of Celestica by 11.6% in the 4th quarter. Truvestments Capital LLC now owns 22,370 shares of the technology company’s stock valued at $2,065,000 after purchasing an additional 2,323 shares in the last quarter. PFG Advisors lifted its position in shares of Celestica by 4.6% during the 4th quarter. PFG Advisors now owns 10,162 shares of the technology company’s stock valued at $938,000 after acquiring an additional 450 shares during the period. Wealth High Governance Capital Ltda purchased a new position in Celestica during the 4th quarter valued at about $9,162,000. Finally, Moors & Cabot Inc. purchased a new position in Celestica during the fourth quarter worth $258,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Insiders Place Their Bets

In other Celestica news, Director Michael Wilson sold 25,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the completion of the sale, the director now directly owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. This represents a 93.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert Mionis sold 75,000 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $141.29, for a total value of $10,596,750.00. Following the completion of the transaction, the chief executive officer now directly owns 456,417 shares in the company, valued at $64,487,157.93. This represents a 14.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 959,381 shares of company stock worth $119,142,019. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

CLS has been the topic of a number of analyst reports. CIBC upgraded shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price on the stock in a research report on Friday, January 31st. Canaccord Genuity Group boosted their price objective on shares of 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 raised Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Royal Bank of Canada lifted their price target on shares of Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Finally, Stifel Nicolaus upped their target price on Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Celestica presently has a consensus rating of “Moderate Buy” and an average target price of $110.83.

Celestica Stock Performance

CLS stock opened at $86.73 on Wednesday. The stock’s fifty day moving average is $110.87 and its two-hundred day moving average is $84.37. The stock has a market capitalization of $10.09 billion, a price-to-earnings ratio of 23.19 and a beta of 2.21. 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 1 year low of $40.25 and a 1 year high of $144.27.

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.