Truist Financial Corp Acquires 1,700 Shares of Celestica, Inc. $CLS

Truist Financial Corp boosted its holdings in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 13.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 14,261 shares of the technology company’s stock after purchasing an additional 1,700 shares during the period. Truist Financial Corp’s holdings in Celestica were worth $3,514,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CLS. MassMutual Private Wealth & Trust FSB grew its stake in shares of Celestica by 42.5% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after buying an additional 37 shares during the last quarter. World Equity Group Inc. boosted its holdings in Celestica by 1.7% during the 3rd quarter. World Equity Group Inc. now owns 2,263 shares of the technology company’s stock valued at $558,000 after acquiring an additional 38 shares during the period. Pure Financial Advisors LLC grew its position in Celestica by 3.2% during the 3rd quarter. Pure Financial Advisors LLC now owns 1,617 shares of the technology company’s stock worth $398,000 after acquiring an additional 50 shares during the last quarter. McIlrath & Eck LLC lifted its position in Celestica by 43.3% in the third quarter. McIlrath & Eck LLC now owns 182 shares of the technology company’s stock valued at $45,000 after purchasing an additional 55 shares during the last quarter. Finally, Rothschild Investment LLC lifted its position in Celestica by 20.0% in the second quarter. Rothschild Investment LLC now owns 390 shares of the technology company’s stock valued at $61,000 after purchasing an additional 65 shares during the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. UBS Group increased their price objective on Celestica from $208.00 to $350.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Bank of America assumed coverage on shares of Celestica in a research report on Wednesday, January 28th. They set a “buy” rating and a $400.00 price target for the company. Canaccord Genuity Group raised their price target on shares of Celestica from $400.00 to $430.00 and gave the stock a “buy” rating in a report on Monday. Wall Street Zen upgraded shares of Celestica from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Finally, CIBC increased their target price on shares of Celestica from $315.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Fifteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $356.59.

Insider Transactions at Celestica

In other Celestica news, President Todd C. Cooper sold 89,484 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $287.45, for a total value of $25,722,175.80. Following the completion of the sale, the president directly owned 108,970 shares in the company, valued at $31,323,426.50. This trade represents a 45.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Yann L. Etienvre sold 86,229 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $287.45, for a total value 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 Stock Performance

NYSE:CLS opened at $294.91 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.47 and a debt-to-equity ratio of 0.37. The firm’s fifty day simple moving average is $307.87 and its 200 day simple moving average is $270.11. The stock has a market cap of $33.93 billion, a P/E ratio of 41.07 and a beta of 1.86. Celestica, Inc. has a twelve month low of $58.05 and a twelve month high of $363.40.

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.