Nuveen Asset Management LLC Cuts Stock Holdings in Celestica Inc. (NYSE:CLS)

Nuveen Asset Management LLC reduced its stake in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 58.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 169,652 shares of the technology company’s stock after selling 240,383 shares during the quarter. Nuveen Asset Management LLC owned 0.15% of Celestica worth $15,649,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Independent Advisor Alliance grew its position in Celestica by 0.3% during the fourth quarter. Independent Advisor Alliance now owns 29,588 shares of the technology company’s stock worth $2,731,000 after buying an additional 79 shares during the period. Jones Financial Companies Lllp grew its position in Celestica by 4.6% during the fourth quarter. Jones Financial Companies Lllp now owns 2,034 shares of the technology company’s stock worth $188,000 after buying an additional 89 shares during the period. CoreCap Advisors LLC grew its position in Celestica by 5.4% during the fourth quarter. CoreCap Advisors LLC now owns 1,760 shares of the technology company’s stock worth $162,000 after buying an additional 90 shares during the period. Pinpoint Asset Management Ltd grew its position in Celestica by 109.6% during the fourth quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock worth $32,000 after buying an additional 182 shares during the period. Finally, NewEdge Advisors LLC grew its position in Celestica by 5.5% during the fourth quarter. NewEdge Advisors LLC now owns 5,400 shares of the technology company’s stock worth $498,000 after buying an additional 281 shares during the period. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on CLS shares. BMO Capital Markets restated an “outperform” rating and set a $130.00 target price (up from $118.00) on shares of Celestica in a research report on Thursday. Wall Street Zen cut shares of Celestica from a “buy” rating to a “hold” rating in a research note on Thursday. Argus dropped their price objective on shares of Celestica from $150.00 to $120.00 and set a “buy” rating for the company in a research note on Tuesday, April 29th. CIBC dropped their price objective on shares of Celestica from $150.00 to $120.00 and set an “outperformer” rating for the company in a research note on Tuesday, April 15th. Finally, Stifel Nicolaus raised their price objective on shares of Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Celestica currently has a consensus rating of “Moderate Buy” and an average target price of $114.82.

Celestica Stock Up 1.1%

CLS stock opened at $119.61 on Monday. The stock has a market capitalization of $13.83 billion, a P/E ratio of 31.98 and a beta of 1.65. 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 $40.25 and a one year high of $144.27. The company has a 50 day moving average price of $90.49 and a two-hundred day moving average price of $97.46.

Celestica (NYSE:CLS) (TSE:CLS) last released its earnings results on Thursday, April 24th. The technology company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.10 by $0.10. The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Celestica had a net margin of 4.61% and a return on equity of 23.34%. Celestica’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.83 EPS. As a group, sell-side analysts expect that Celestica Inc. will post 4.35 EPS for the current year.

Celestica Company 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.