Park Avenue Securities LLC Sells 5,225 Shares of Celestica, Inc. $CLS

Park Avenue Securities LLC cut its stake in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 37.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,552 shares of the technology company’s stock after selling 5,225 shares during the period. Park Avenue Securities LLC’s holdings in Celestica were worth $2,533,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CLS. Vanguard Group Inc. boosted its stake in shares of Celestica by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 4,738,673 shares of the technology company’s stock worth $1,166,093,000 after buying an additional 97,755 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Celestica by 471.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 3,146,928 shares of the technology company’s stock valued at $775,133,000 after acquiring an additional 2,596,318 shares during the last quarter. Franklin Resources Inc. increased its position in Celestica by 4.8% during the third quarter. Franklin Resources Inc. now owns 1,921,417 shares of the technology company’s stock valued at $473,386,000 after acquiring an additional 88,212 shares during the last quarter. Viking Global Investors LP bought a new position in Celestica in the third quarter valued at about $424,459,000. Finally, Norges Bank bought a new position in Celestica in the second quarter valued at about $236,069,000. 67.38% of the stock is owned by institutional investors.

Celestica Stock Up 6.6%

NYSE CLS opened at $286.90 on Tuesday. Celestica, Inc. has a 52 week low of $58.05 and a 52 week high of $363.40. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $33.00 billion, a P/E ratio of 39.96 and a beta of 1.88. The stock’s 50-day moving average price is $289.72 and its 200-day moving average price is $290.78.

Insider Buying and Selling

In other Celestica news, President Todd C. Cooper sold 1,065 shares of the firm’s stock in a transaction that occurred 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 sale, the president owned 108,970 shares in the company, valued at approximately $30,894,084.70. This trade represents a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Jason Phillips sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $308.92, for a total transaction of $30,892,000.00. Following the sale, the president owned 12,584 shares in the company, valued at approximately $3,887,449.28. The trade was a 88.82% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 297,923 shares of company stock valued at $88,027,459. 0.52% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CLS. Zacks Research upgraded Celestica from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 5th. Aletheia Capital increased their price objective on shares of Celestica from $330.00 to $410.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Wolfe Research raised shares of Celestica to a “strong-buy” rating in a report on Tuesday, February 17th. TD Securities boosted their target price on shares of Celestica from $305.00 to $330.00 and gave the company a “hold” rating in a research report on Friday, January 30th. Finally, Citigroup reduced their target price on shares of Celestica from $375.00 to $338.00 and set a “buy” rating for the company in a report on Friday, January 30th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $354.24.

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.