Goldman Sachs Group Inc. increased its position in Celestica, Inc. (NYSE:CLS – Free Report) (TSE:CLS) by 25.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,637,367 shares of the technology company’s stock after purchasing an additional 332,641 shares during the period. Goldman Sachs Group Inc.’s holdings in Celestica were worth $484,022,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of CLS. Cullen Frost Bankers Inc. acquired a new position in shares of Celestica in the 4th quarter worth approximately $30,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Celestica during the 4th quarter valued at approximately $38,000. Northwestern Mutual Wealth Management Co. lifted its stake in Celestica by 117.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 137 shares of the technology company’s stock worth $40,000 after purchasing an additional 74 shares during the last quarter. Fifth Third Bancorp lifted its stake in Celestica by 48.7% during the third quarter. Fifth Third Bancorp now owns 171 shares of the technology company’s stock worth $42,000 after purchasing an additional 56 shares during the last quarter. Finally, Pinney & Scofield Inc. boosted its holdings in Celestica by 20.0% in the third quarter. Pinney & Scofield Inc. now owns 180 shares of the technology company’s stock worth $44,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.
Celestica Stock Down 7.3%
Shares of NYSE:CLS opened at $424.66 on Friday. The firm has a 50 day simple moving average of $363.43 and a 200 day simple moving average of $321.40. Celestica, Inc. has a 52 week low of $117.28 and a 52 week high of $474.02. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.73 and a current ratio of 1.26. The company has a market cap of $48.82 billion, a PE ratio of 51.35, a price-to-earnings-growth ratio of 1.07 and a beta of 2.02.
Insiders Place Their Bets
In related news, Director Michael Max Wilson sold 4,168 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $333.31, for a total value of $1,389,236.08. Following the completion of the sale, the director directly owned 24,718 shares of the company’s stock, valued at approximately $8,238,756.58. This represents a 14.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.10% of the company’s stock.
Analysts Set New Price Targets
CLS has been the subject of several recent research reports. Zacks Research lowered shares of Celestica from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Citigroup boosted their price objective on shares of Celestica from $338.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. TD Cowen upgraded shares of Celestica from a “hold” rating to a “buy” rating and increased their price objective for the stock from $350.00 to $430.00 in a research note on Wednesday, April 29th. UBS Group raised their target price on shares of Celestica from $355.00 to $400.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. lifted their target price on Celestica from $410.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $427.42.
View Our Latest Stock Analysis on CLS
About Celestica
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.
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