Citigroup Inc. Lowers Holdings in Celestica, Inc. $CLS

Citigroup Inc. lowered its stake in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 40.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 58,393 shares of the technology company’s stock after selling 40,407 shares during the period. Citigroup Inc. owned about 0.05% of Celestica worth $14,372,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC grew its holdings in Celestica by 102.5% during the second quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock worth $26,000 after acquiring an additional 83 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in Celestica by 42.5% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock worth $31,000 after purchasing an additional 37 shares in the last quarter. First Horizon Corp acquired a new stake in shares of Celestica during the 3rd quarter worth approximately $31,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Celestica during the 2nd quarter valued at approximately $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.

Celestica Price Performance

NYSE:CLS opened at $277.43 on Friday. The stock has a 50 day moving average of $300.32 and a two-hundred day moving average of $281.63. Celestica, Inc. has a 12 month low of $58.05 and a 12 month high of $363.40. The firm has a market cap of $31.92 billion, a P/E ratio of 38.64 and a beta of 1.86. The company has a current ratio of 1.47, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37.

Analyst Upgrades and Downgrades

CLS has been the topic of several analyst reports. BMO Capital Markets restated an “outperform” rating on shares of Celestica in a research report on Monday, January 26th. Barclays raised their target price on Celestica from $359.00 to $391.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. TD Cowen reaffirmed a “hold” rating on shares of Celestica in a report on Friday, January 30th. Wolfe Research upgraded Celestica to a “strong-buy” rating in a research report on Tuesday, February 17th. Finally, Aletheia Capital boosted their price objective on Celestica from $330.00 to $410.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $356.59.

Insiders Place Their Bets

In other news, President Jason Phillips sold 100,000 shares of the company’s stock in a transaction 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 sale, the president owned 12,584 shares of the company’s stock, valued at $3,887,449.28. This represents a 88.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Yann L. Etienvre sold 1,145 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $283.51, for a total transaction of $324,618.95. The SEC filing for this sale provides additional information. Insiders have sold a total of 297,923 shares of company stock valued at $88,027,459 in the last 90 days. 0.52% of the stock is owned by insiders.

About Celestica

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.