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

PNC Financial Services Group Inc. decreased its holdings in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 42.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,025 shares of the technology company’s stock after selling 3,680 shares during the period. PNC Financial Services Group Inc.’s holdings in Celestica were worth $464,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Whale Rock Capital Management LLC grew its stake in shares of Celestica by 13.0% in the third quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock worth $432,846,000 after acquiring an additional 975,163 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Celestica by 38.5% during the third quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock worth $55,451,000 after purchasing an additional 301,563 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in shares of Celestica by 25.8% during the third quarter. Westfield Capital Management Co. LP now owns 536,249 shares of the technology company’s stock worth $27,413,000 after purchasing an additional 109,972 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Celestica during the fourth quarter worth $47,685,000. Finally, Alberta Investment Management Corp grew its stake in shares of Celestica by 161.5% during the fourth quarter. Alberta Investment Management Corp now owns 279,791 shares of the technology company’s stock worth $25,808,000 after purchasing an additional 172,814 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on CLS shares. Barclays boosted their target price on shares of Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Royal Bank of Canada boosted their target price on shares of Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Stifel Nicolaus boosted their target price on shares of Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. UBS Group initiated coverage on shares of Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price objective for the company. Finally, Cibc World Mkts upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Celestica has an average rating of “Moderate Buy” and an average price target of $110.83.

Insider Activity

In related news, Director Michael Wilson sold 25,000 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 1,784 shares of the company’s stock, valued at $176,134.32. This represents a 93.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President Todd C. Cooper sold 65,000 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the transaction, the president now directly owns 110,426 shares of the company’s stock, valued at $14,331,086.28. This represents a 37.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 959,381 shares of company stock valued at $119,142,019. Insiders own 1.00% of the company’s stock.

Celestica Price Performance

Shares of NYSE:CLS opened at $92.09 on Thursday. The company has a 50-day simple moving average of $110.24 and a 200-day simple moving average of $85.74. Celestica Inc. has a one year low of $40.25 and a one year high of $144.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The stock has a market capitalization of $10.72 billion, a price-to-earnings ratio of 24.62 and a beta of 2.21.

About Celestica

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.