Celestica, Inc. $CLS Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its stake in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 25.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 166,810 shares of the technology company’s stock after selling 58,250 shares during the quarter. Principal Financial Group Inc. owned approximately 0.15% of Celestica worth $41,058,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Franklin Resources Inc. lifted its position in Celestica by 25.8% in the 2nd quarter. Franklin Resources Inc. now owns 1,833,205 shares of the technology company’s stock valued at $286,184,000 after purchasing an additional 375,910 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Celestica by 17.6% in the second 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 purchasing an additional 259,504 shares during the period. Norges Bank bought a new stake in shares of Celestica during the second quarter valued at approximately $236,069,000. Geode Capital Management LLC boosted its position in shares of Celestica by 27.6% during the second quarter. Geode Capital Management LLC now owns 962,521 shares of the technology company’s stock worth $153,449,000 after buying an additional 208,249 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Celestica by 2.5% during the second quarter. The Manufacturers Life Insurance Company now owns 925,301 shares of the technology company’s stock worth $143,904,000 after buying an additional 22,280 shares during the period. Institutional investors own 67.38% of the company’s stock.

Insiders Place Their Bets

In related news, President Todd C. Cooper sold 89,484 shares of Celestica stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $287.45, for a total value of $25,722,175.80. Following the transaction, the president owned 108,970 shares of the company’s stock, valued at approximately $31,323,426.50. This trade represents a 45.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Yann L. Etienvre sold 86,229 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $287.45, for a total transaction of $24,786,526.05. The disclosure for this sale is available in the SEC filing. Insiders own 0.52% of the company’s stock.

Celestica Trading Up 6.9%

Shares of NYSE:CLS opened at $294.91 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.47. The stock has a market capitalization of $33.93 billion, a price-to-earnings ratio of 41.07 and a beta of 1.86. Celestica, Inc. has a 1-year low of $58.05 and a 1-year high of $363.40. The company has a 50 day moving average price of $307.87 and a 200 day moving average price of $270.11.

Analyst Ratings Changes

Several brokerages have weighed in on CLS. Citigroup cut 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. Royal Bank Of Canada restated an “outperform” rating and set a $400.00 price objective on shares of Celestica in a research note on Thursday, January 22nd. BMO Capital Markets reaffirmed an “outperform” rating on shares of Celestica in a report on Monday, January 26th. Stifel Nicolaus reiterated a “buy” rating and issued a $385.00 target price (up previously from $230.00) on shares of Celestica in a research report on Wednesday, October 29th. Finally, Zacks Research downgraded shares of Celestica from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Fifteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Celestica has an average rating of “Moderate Buy” and an average price target of $356.59.

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.