Allspring Global Investments Holdings LLC Sells 117,666 Shares of Celestica, Inc. $CLS

Allspring Global Investments Holdings LLC decreased its position in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 46.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 133,870 shares of the technology company’s stock after selling 117,666 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.12% of Celestica worth $40,482,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CLS. MassMutual Private Wealth & Trust FSB increased its stake in shares of Celestica by 42.5% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after buying an additional 37 shares during the period. First Horizon Corp acquired a new position in shares of Celestica during the third quarter valued at $31,000. Avion Wealth bought a new position in Celestica in the third quarter valued at about $40,000. Fifth Third Bancorp boosted its holdings in Celestica by 48.7% in the third quarter. Fifth Third Bancorp now owns 171 shares of the technology company’s stock valued at $42,000 after acquiring an additional 56 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in Celestica in the third quarter worth about $44,000. 67.38% of the stock is currently owned by institutional investors.

Celestica Trading Up 2.1%

NYSE:CLS opened at $294.69 on Friday. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. Celestica, Inc. has a 1-year low of $58.05 and a 1-year high of $363.40. The firm has a market capitalization of $33.88 billion, a price-to-earnings ratio of 41.04 and a beta of 1.88. The business’s 50-day moving average price is $285.52 and its two-hundred day moving average price is $292.34.

Insider Buying and Selling

In related news, insider Yann L. Etienvre sold 86,229 shares of the business’s stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Jason Phillips sold 100,000 shares of the company’s 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 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 position. Additional details regarding this sale are available in the official SEC disclosure. 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 owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CLS. Canaccord Genuity Group boosted their price objective on Celestica from $400.00 to $430.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. BMO Capital Markets reiterated an “outperform” rating on shares of Celestica in a research report on Monday, January 26th. TD Securities boosted their price target on shares of Celestica from $305.00 to $330.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. Royal Bank Of Canada restated an “outperform” rating and issued a $400.00 price objective on shares of Celestica in a report on Thursday, January 22nd. Finally, Citigroup reduced their price objective on shares of Celestica from $375.00 to $338.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Celestica currently has an average rating of “Moderate Buy” and an average target price of $355.39.

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.