Connor Clark & Lunn Investment Management Ltd. Sells 138,238 Shares of Celestica, Inc. $CLS

by · The Markets Daily

Connor Clark & Lunn Investment Management Ltd. cut its position in Celestica, Inc. (NYSE:CLS – Free Report) (TSE:CLS) by 8.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,595,448 shares of the technology company’s stock after selling 138,238 shares during the quarter. Celestica accounts for 1.2% of Connor Clark & Lunn Investment Management Ltd.’s investment portfolio, making the stock its 13th largest holding. Connor Clark & Lunn Investment Management Ltd.’s holdings in Celestica were worth $392,528,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of Celestica by 7.3% in the second quarter. Bank of New York Mellon Corp now owns 130,351 shares of the technology company’s stock valued at $20,349,000 after acquiring an additional 8,884 shares during the last quarter. Metis Global Partners LLC grew its position in Celestica by 44.2% during the 2nd quarter. Metis Global Partners LLC now owns 4,944 shares of the technology company’s stock worth $772,000 after acquiring an additional 1,516 shares during the last quarter. Prospera Financial Services Inc acquired a new stake in Celestica during the 2nd quarter valued at $242,000. Aviva PLC raised its position in Celestica by 6.7% in the 2nd quarter. Aviva PLC now owns 81,774 shares of the technology company’s stock valued at $12,774,000 after purchasing an additional 5,150 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Celestica in the second quarter worth $3,895,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Celestica Price Performance

Celestica stock opened at $265.90 on Thursday. The business’s 50-day simple moving average is $293.96 and its 200 day simple moving average is $286.19. 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 stock has a market cap of $30.59 billion, a price-to-earnings ratio of 37.03 and a beta of 1.88. Celestica, Inc. has a 12-month low of $58.05 and a 12-month high of $363.40.

Insider Buying and Selling at Celestica

In related news, President Jason Phillips sold 100,000 shares of the business’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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President Todd C. Cooper sold 89,484 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $287.45, for a total transaction of $25,722,175.80. Following the sale, the president directly owned 108,970 shares of the company’s stock, valued at approximately $31,323,426.50. This trade represents a 45.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 297,923 shares of company stock worth $88,027,459. Company insiders own 0.52% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CLS. Aletheia Capital raised their target price on Celestica from $330.00 to $410.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Royal Bank Of Canada restated an “outperform” rating and issued a $400.00 price objective on shares of Celestica in a research report on Thursday, January 22nd. BMO Capital Markets reaffirmed an “outperform” rating on shares of Celestica in a research note on Monday, January 26th. Citigroup reduced their target price on shares of Celestica from $375.00 to $338.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Finally, Canaccord Genuity Group raised their price target on shares of Celestica from $400.00 to $430.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Two research 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. Based on data from MarketBeat.com, Celestica has an average rating of “Moderate Buy” and an average price target of $354.24.

Check Out Our Latest Stock Analysis on Celestica

About Celestica

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding CLS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Celestica, Inc. (NYSE:CLS – Free Report) (TSE:CLS).