Maryland State Retirement & Pension System Acquires New Shares in Celestica, Inc. $CLS

Maryland State Retirement & Pension System acquired a new stake in Celestica, Inc. (NYSE:CLS) (TSE:CLS) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 13,719 shares of the technology company’s stock, valued at approximately $4,956,000.

A number of other large investors have also added to or reduced their stakes in CLS. Washington Trust Advisors Inc. acquired a new position in Celestica in the 2nd quarter valued at approximately $28,000. Elevation Wealth Partners LLC bought a new position in shares of Celestica during the third quarter valued at $28,000. Latitude Advisors LLC bought a new position in shares of Celestica during the third quarter valued at $40,000. Mather Group LLC. lifted its holdings in shares of Celestica by 266.7% during the third quarter. Mather Group LLC. now owns 121 shares of the technology company’s stock worth $44,000 after purchasing an additional 88 shares during the period. Finally, William Mack & Associates Inc. acquired a new position in shares of Celestica during the third quarter worth $50,000. Institutional investors own 67.38% of the company’s stock.

Celestica Stock Up 4.8%

Shares of NYSE CLS opened at $254.63 on Friday. The company’s fifty day simple moving average is $312.83 and its 200 day simple moving average is $327.85. Celestica, Inc. has a 12-month low of $197.50 and a 12-month high of $474.02. The firm has a market cap of $32.11 billion, a PE ratio of 24.09, a P/E/G ratio of 1.70 and a beta of 2.10. The company has a quick ratio of 1.03, a current ratio of 1.61 and a debt-to-equity ratio of 0.13.

Celestica (NYSE:CLS) (TSE:CLS) last issued its earnings results on Monday, October 26th. The technology company reported $3.30 EPS for the quarter, beating the consensus estimate of $3.02 by $0.28. Celestica had a return on equity of 33.80% and a net margin of 6.83%. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.39 billion. As a group, sell-side analysts forecast that Celestica, Inc. will post 10.97 earnings per share for the current fiscal year.

Insider Activity at Celestica

In other Celestica news, President Todd Cooper sold 20,118 shares of the firm’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $360.00, for a total value of $7,242,480.00. Following the completion of the sale, the president owned 73,252 shares of the company’s stock, valued at approximately $26,370,720. This trade represents a 21.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert Mionis sold 23,396 shares of the business’s stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $364.22, for a total value of $8,521,291.12. The SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. TD set a $430.00 price objective on Celestica and gave the company a “buy” rating in a report on Wednesday, September 16th. Sanford C. Bernstein decreased their price target on Celestica from $495.00 to $340.00 and set an “outperform” rating for the company in a research note on Monday. TD Cowen restated a “buy” rating on shares of Celestica in a research report on Tuesday, October 27th. Bank of America reaffirmed a “buy” rating on shares of Celestica in a research note on Wednesday, July 29th. Finally, Canadian Imperial Bank of Commerce upped their target price on Celestica from $480.00 to $500.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $445.14.

Celestica Company Profile

Celestica Inc. is a global provider of design, manufacturing, and supply chain services for companies across technology and industrial markets. Its work spans product development, engineering, manufacturing, testing, and ongoing product support. The company’s offerings include hardware and infrastructure used in cloud computing and data centers, communications networks, aerospace and defense, industrial equipment, and health technology. It also provides supply chain management and other services to support products throughout their lifecycle.