Celestica Inc. (NYSE:CLS) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 23.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 403,220 shares of the technology company’s stock after selling 126,170 shares during the period. Principal Financial Group Inc. owned about 0.35% of Celestica worth $37,193,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Whale Rock Capital Management LLC lifted its position in Celestica by 13.0% during the third quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock valued at $432,846,000 after buying an additional 975,163 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Celestica in the third quarter valued at $61,210,000. Point72 Asset Management L.P. boosted its stake in shares of Celestica by 38.5% in the third quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock valued at $55,451,000 after purchasing an additional 301,563 shares during the period. Westfield Capital Management Co. LP boosted its stake in shares of Celestica by 25.8% in the third quarter. Westfield Capital Management Co. LP now owns 536,249 shares of the technology company’s stock valued at $27,413,000 after purchasing an additional 109,972 shares during the period. Finally, Broad Peak Investment Advisers Pte Ltd boosted its stake in shares of Celestica by 53.8% in the third quarter. Broad Peak Investment Advisers Pte Ltd now owns 524,245 shares of the technology company’s stock valued at $26,799,000 after purchasing an additional 183,300 shares during the period. 67.38% of the stock is owned by institutional investors and hedge funds.

Celestica Stock Down 4.5 %

Shares of NYSE:CLS opened at $119.41 on Friday. The stock has a market capitalization of $13.89 billion, a price-to-earnings ratio of 31.93 and a beta of 2.27. Celestica Inc. has a 1-year low of $38.80 and a 1-year high of $144.27. The company’s fifty day moving average is $110.78 and its two-hundred day moving average is $80.16. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47.

Insiders Place Their Bets

In other Celestica news, Director Michael Wilson sold 25,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the sale, the director now directly owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. This represents a 93.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert Mionis sold 441,325 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $122.28, for a total transaction of $53,965,221.00. Following the sale, the chief executive officer now directly owns 531,417 shares in the company, valued at $64,981,670.76. This trade represents a 45.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 959,381 shares of company stock valued at $119,142,019. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CLS. UBS Group began coverage on shares of Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 target price for the company. Cibc World Mkts upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Canaccord Genuity Group upped their target price on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Stifel Nicolaus upped their target price on shares of Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, TD Securities upped their target price on shares of Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.