Boston Partners Cuts Position in Celestica Inc. (NYSE:CLS)

Boston Partners lowered its holdings in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 39.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,324 shares of the technology company’s stock after selling 20,785 shares during the quarter. Boston Partners’ holdings in Celestica were worth $2,891,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CLS. Advisors Asset Management Inc. grew its stake in Celestica by 60.8% in the 4th quarter. Advisors Asset Management Inc. now owns 52,890 shares of the technology company’s stock valued at $4,882,000 after acquiring an additional 19,989 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of Celestica in the fourth quarter valued at about $2,797,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of Celestica during the fourth quarter worth about $480,000. Corient Private Wealth LLC raised its position in shares of Celestica by 8.7% during the 4th quarter. Corient Private Wealth LLC now owns 8,150 shares of the technology company’s stock worth $752,000 after purchasing an additional 650 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC purchased a new position in Celestica in the 4th quarter valued at about $2,133,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Celestica news, insider Alok K. Agrawal sold 6,826 shares of Celestica stock in a transaction dated Wednesday, February 5th. The shares were 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 trade represents a 42.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Yann L. Etienvre sold 9,181 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $127.54, for a total transaction of $1,170,944.74. Following the completion of the transaction, the insider now owns 83,179 shares in the company, valued at approximately $10,608,649.66. This represents a 9.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 959,381 shares of company stock valued at $119,142,019. 1.00% of the stock is currently owned by insiders.

Celestica Price Performance

CLS stock opened at $96.09 on Friday. 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. The stock has a market cap of $11.18 billion, a price-to-earnings ratio of 25.69 and a beta of 2.21. The business has a fifty day moving average of $109.74 and a two-hundred day moving average of $86.17.

Wall Street Analyst Weigh In

CLS has been the subject of a number of research analyst reports. Royal Bank of Canada increased their target price on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. TD Securities lifted their target price on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Barclays upped their target price on shares of Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, Canaccord Genuity Group raised their price target on shares of Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Celestica currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.83.

Celestica Profile

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.