Westover Capital Advisors LLC Trims Holdings in Celestica, Inc. $CLS

Westover Capital Advisors LLC reduced its stake in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 14.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,296 shares of the technology company’s stock after selling 6,867 shares during the quarter. Celestica makes up approximately 1.8% of Westover Capital Advisors LLC’s investment portfolio, making the stock its 15th largest position. Westover Capital Advisors LLC’s holdings in Celestica were worth $9,682,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Franklin Resources Inc. increased its position in shares of Celestica by 25.8% during the 2nd quarter. Franklin Resources Inc. now owns 1,833,205 shares of the technology company’s stock worth $286,184,000 after purchasing an additional 375,910 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Celestica by 17.6% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,733,686 shares of the technology company’s stock worth $271,045,000 after buying an additional 259,504 shares during the period. Norges Bank acquired a new stake in shares of Celestica during the second quarter valued at about $236,069,000. Geode Capital Management LLC raised its stake in shares of Celestica by 27.6% in the 2nd quarter. Geode Capital Management LLC now owns 962,521 shares of the technology company’s stock valued at $153,449,000 after acquiring an additional 208,249 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Celestica by 2.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 925,301 shares of the technology company’s stock worth $143,904,000 after acquiring an additional 22,280 shares during the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Yann L. Etienvre sold 86,229 shares of Celestica stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $287.45, for a total transaction of $24,786,526.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Jason Phillips sold 100,000 shares of Celestica 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 completion of the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 297,923 shares of company stock worth $88,027,459 over the last 90 days. 0.52% of the stock is currently owned by corporate insiders.

Celestica Trading Down 0.5%

CLS opened at $296.30 on Thursday. Celestica, Inc. has a one year low of $58.05 and a one year high of $363.40. The company has a market cap of $34.09 billion, a P/E ratio of 41.27 and a beta of 1.86. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.47. The business’s 50-day simple moving average is $306.78 and its 200-day simple moving average is $274.78.

Analyst Ratings Changes

CLS has been the subject of several research reports. Bank of America started coverage on shares of Celestica in a report on Wednesday, January 28th. They issued a “buy” rating and a $400.00 target price for the company. UBS Group lifted their price objective on Celestica from $208.00 to $350.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. BMO Capital Markets reiterated an “outperform” rating on shares of Celestica in a report on Monday, January 26th. Barclays increased their target price on Celestica from $359.00 to $391.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Finally, TD Securities lifted their target price on Celestica from $305.00 to $330.00 and gave the company a “hold” rating in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $356.59.

Celestica 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.