Bank of Nova Scotia Acquires Shares of 3,980 Celestica Inc. (NYSE:CLS)

Bank of Nova Scotia acquired a new stake in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,980 shares of the technology company’s stock, valued at approximately $367,000.

A number of other institutional investors have also made changes to their positions in CLS. FMR LLC increased its stake in Celestica by 91.2% during the 4th quarter. FMR LLC now owns 11,688,700 shares of the technology company’s stock worth $1,078,804,000 after buying an additional 5,574,342 shares during the period. FIL Ltd grew its stake in shares of Celestica by 5,976.1% during the fourth quarter. FIL Ltd now owns 3,463,729 shares of the technology company’s stock valued at $319,662,000 after acquiring an additional 3,406,723 shares in the last quarter. Norges Bank purchased a new stake in shares of Celestica during the fourth quarter worth about $139,008,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Celestica by 64.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company’s stock worth $329,460,000 after acquiring an additional 1,401,877 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Celestica by 290.4% in the fourth quarter. Franklin Resources Inc. now owns 1,080,568 shares of the technology company’s stock valued at $99,735,000 after purchasing an additional 803,780 shares during the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on CLS shares. Stifel Nicolaus upped their target price on Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Royal Bank of Canada raised their price objective on shares of Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. TD Securities increased their price target on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Finally, Barclays increased their target price on Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $110.83.

Insider Transactions at Celestica

In other news, insider Alok K. Agrawal sold 6,826 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $133.92, for a total transaction of $914,137.92. Following the transaction, the insider now directly owns 9,224 shares of the company’s stock, valued at approximately $1,235,278.08. This trade represents a 42.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert Mionis sold 52,588 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $127.54, for a total transaction of $6,707,073.52. Following the completion of the sale, the chief executive officer now directly owns 531,417 shares of the company’s stock, valued at $67,776,924.18. The trade was a 9.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 934,381 shares of company stock worth $116,673,769. Company insiders own 1.00% of the company’s stock.

Celestica Trading Up 2.3 %

Celestica stock opened at $80.94 on Tuesday. The firm has a 50-day moving average price of $97.45 and a two-hundred day moving average price of $90.55. Celestica Inc. has a 52-week low of $40.25 and a 52-week high of $144.27. The firm has a market capitalization of $9.39 billion, a price-to-earnings ratio of 21.64 and a beta of 2.09. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

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.