Modern Wealth Management LLC Invests $263,000 in Celestica Inc. (NYSE:CLS)

Modern Wealth Management LLC purchased a new position in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,852 shares of the technology company’s stock, valued at approximately $263,000.

Other large investors have also recently added to or reduced their stakes in the company. Peregrine Capital Management LLC acquired a new stake in Celestica in the fourth quarter valued at $30,000. Private Trust Co. NA grew its stake in shares of Celestica by 480.0% during the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock worth $44,000 after purchasing an additional 720 shares during the period. R Squared Ltd purchased a new position in shares of Celestica in the 4th quarter valued at about $51,000. IFP Advisors Inc lifted its stake in shares of Celestica by 122.7% in the fourth quarter. IFP Advisors Inc now owns 668 shares of the technology company’s stock valued at $62,000 after purchasing an additional 368 shares during the period. Finally, UMB Bank n.a. boosted its holdings in Celestica by 43.6% during the fourth quarter. UMB Bank n.a. now owns 949 shares of the technology company’s stock worth $88,000 after buying an additional 288 shares in the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Celestica news, CEO Robert Mionis sold 441,325 shares of Celestica stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $122.28, for a total value of $53,965,221.00. Following the completion of the sale, the chief executive officer now owns 531,417 shares in the company, valued at $64,981,670.76. The trade was a 45.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Wilson sold 25,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the transaction, the director now owns 1,784 shares in the company, valued at approximately $176,134.32. The trade was a 93.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 959,381 shares of company stock valued at $119,142,019 in the last quarter. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CLS shares. Barclays increased their target price on shares of Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Canaccord Genuity Group lifted their price objective on Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, December 20th. JPMorgan Chase & Co. started coverage on Celestica in a report on Friday, February 21st. They issued an “overweight” rating and a $166.00 target price on the stock. Royal Bank of Canada lifted their price target on Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Finally, CIBC raised shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price objective on the stock in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $110.83.

Celestica Stock Performance

Shares of CLS opened at $82.56 on Friday. Celestica Inc. has a 1 year low of $40.25 and a 1 year high of $144.27. The company’s 50 day simple moving average is $108.09 and its 200 day simple moving average is $87.76. The company has a market capitalization of $9.57 billion, a price-to-earnings ratio of 22.07 and a beta of 2.21. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47.

Celestica Company 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.