Canada Pension Plan Investment Board Takes $7.37 Million Position in Celestica Inc. (NYSE:CLS)

Canada Pension Plan Investment Board purchased a new position in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 80,000 shares of the technology company’s stock, valued at approximately $7,374,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Independent Advisor Alliance lifted its stake in shares of Celestica by 0.3% in the 4th quarter. Independent Advisor Alliance now owns 29,588 shares of the technology company’s stock worth $2,731,000 after acquiring an additional 79 shares during the period. Jones Financial Companies Lllp boosted its holdings in Celestica by 4.6% in the 4th quarter. Jones Financial Companies Lllp now owns 2,034 shares of the technology company’s stock valued at $188,000 after purchasing an additional 89 shares in the last quarter. Pinpoint Asset Management Ltd increased its position in Celestica by 109.6% during the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock worth $32,000 after purchasing an additional 182 shares during the period. NewEdge Advisors LLC raised its stake in shares of Celestica by 5.5% during the 4th quarter. NewEdge Advisors LLC now owns 5,400 shares of the technology company’s stock worth $498,000 after buying an additional 281 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in Celestica by 43.6% in the fourth quarter. UMB Bank n.a. now owns 949 shares of the technology company’s stock valued at $88,000 after acquiring an additional 288 shares during the period. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Celestica Price Performance

CLS stock opened at $80.61 on Tuesday. The stock has a market capitalization of $9.35 billion, a price-to-earnings ratio of 21.55 and a beta of 2.09. The stock’s fifty day simple moving average is $92.71 and its 200-day simple moving average is $91.64. Celestica Inc. has a 52-week low of $40.25 and a 52-week high of $144.27. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

Insiders Place Their Bets

In other news, insider Alok K. Agrawal sold 6,826 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $133.92, for a total transaction of $914,137.92. Following the completion of the sale, the insider now directly owns 9,224 shares in the company, valued at $1,235,278.08. This represents a 42.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President Todd C. Cooper sold 65,000 shares of Celestica stock in a transaction on Friday, February 7th. The shares were sold at an average price of $129.78, for a total value of $8,435,700.00. Following the completion of the transaction, the president now owns 110,426 shares in the company, valued at $14,331,086.28. The trade was a 37.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 934,381 shares of company stock valued at $116,673,769. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

CLS has been the subject of a number of research analyst reports. Cibc World Mkts upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Royal Bank of Canada lifted their price objective on Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. TD Securities raised their price target on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. CIBC decreased their price objective on shares of Celestica from $150.00 to $120.00 and set an “outperformer” rating on the stock in a research report on Tuesday, April 15th. Finally, Barclays lifted their target price on shares of Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Celestica has a consensus rating of “Moderate Buy” and an average target price of $103.25.

About Celestica

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.