Picton Mahoney Asset Management Trims Stake in Celestica, Inc. $CLS

Picton Mahoney Asset Management lessened its holdings in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 38.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 357,341 shares of the technology company’s stock after selling 223,748 shares during the period. Celestica makes up 0.8% of Picton Mahoney Asset Management’s investment portfolio, making the stock its 21st largest position. Picton Mahoney Asset Management owned 0.31% of Celestica worth $87,915,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Celestica by 2.1% in the third quarter. Vanguard Group Inc. now owns 4,738,673 shares of the technology company’s stock valued at $1,166,093,000 after buying an additional 97,755 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Celestica by 25.8% during the second quarter. Franklin Resources Inc. now owns 1,833,205 shares of the technology company’s stock valued at $286,184,000 after acquiring an additional 375,910 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Celestica by 17.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,733,686 shares of the technology company’s stock valued at $271,045,000 after acquiring an additional 259,504 shares during the period. Norges Bank acquired a new position in shares of Celestica in the 2nd quarter worth approximately $236,069,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Celestica by 27.6% in the 2nd quarter. Geode Capital Management LLC now owns 962,521 shares of the technology company’s stock worth $153,449,000 after acquiring an additional 208,249 shares during the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

Celestica Trading Down 3.9%

NYSE:CLS opened at $256.61 on Wednesday. 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 $29.52 billion, a PE ratio of 35.74 and a beta of 1.88. The company has a current ratio of 1.47, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The stock has a fifty day moving average price of $298.60 and a 200 day moving average price of $283.58.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Aletheia Capital lifted their target price on shares of Celestica from $330.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Celestica in a research note on Wednesday, January 21st. Wolfe Research upgraded Celestica to a “strong-buy” rating in a report on Tuesday, February 17th. Citigroup decreased their target price on Celestica from $375.00 to $338.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Finally, Wall Street Zen raised Celestica from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $356.59.

Insider Transactions at Celestica

In other Celestica news, President Todd C. Cooper sold 89,484 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 $25,722,175.80. Following the completion of the transaction, the president owned 108,970 shares in the company, valued at $31,323,426.50. The trade was a 45.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Jason Phillips sold 100,000 shares of the 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 in the company, valued at approximately $3,887,449.28. This represents a 88.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 297,923 shares of company stock valued at $88,027,459. 0.52% of the stock is currently owned by corporate insiders.

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.