Pitcairn Co. Reduces Stock Holdings in Celestica, Inc. $CLS

Pitcairn Co. cut its holdings in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 44.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,332 shares of the technology company’s stock after selling 4,337 shares during the quarter. Pitcairn Co.’s holdings in Celestica were worth $1,314,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Golden State Wealth Management LLC increased its stake in Celestica by 102.5% during the 2nd quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock valued at $26,000 after purchasing an additional 83 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Celestica by 42.5% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock worth $31,000 after buying an additional 37 shares during the period. First Horizon Corp purchased a new stake in shares of Celestica during the third quarter valued at $31,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Celestica during the second quarter valued at $40,000. Finally, Avion Wealth acquired a new position in shares of Celestica in the 3rd quarter valued at $40,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Wall Street Analyst Weigh In

CLS has been the subject of a number of research reports. Bank of America initiated coverage on Celestica in a research report on Wednesday, January 28th. They set a “buy” rating and a $400.00 price target for the company. Citigroup cut their price objective on Celestica from $375.00 to $338.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Barclays raised their price objective on Celestica from $359.00 to $391.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Aletheia Capital increased their price target on shares of Celestica from $330.00 to $410.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Finally, TD Cowen restated a “hold” rating on shares of Celestica in a research note on Friday, January 30th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $356.59.

Celestica Stock Down 6.1%

Shares of CLS stock opened at $249.58 on Friday. The stock has a 50 day moving average of $295.88 and a 200 day moving average of $283.75. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The stock has a market cap of $28.71 billion, a P/E ratio of 34.76 and a beta of 1.88. Celestica, Inc. has a twelve month low of $58.05 and a twelve month high of $363.40.

Insider Transactions at Celestica

In other news, President Jason Phillips sold 100,000 shares of Celestica stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $308.92, for a total transaction of $30,892,000.00. Following the completion of the transaction, the president directly owned 12,584 shares of the company’s stock, valued at $3,887,449.28. The trade was a 88.82% 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, President Todd C. Cooper sold 1,065 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $283.51, for a total transaction of $301,938.15. Following the completion of the transaction, the president owned 108,970 shares of the company’s stock, valued at approximately $30,894,084.70. This represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 297,923 shares of company stock valued at $88,027,459 in the last 90 days. 0.52% of the stock is currently owned by company insiders.

Celestica Company Profile

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.