Quantbot Technologies LP Acquires 28,160 Shares of Celestica, Inc. $CLS

Quantbot Technologies LP raised its holdings in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 127.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,199 shares of the technology company’s stock after acquiring an additional 28,160 shares during the period. Quantbot Technologies LP’s holdings in Celestica were worth $12,368,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of CLS. Norges Bank acquired a new position in shares of Celestica in the 2nd quarter valued at approximately $236,069,000. SRS Investment Management LLC acquired a new position in shares of Celestica in the second quarter valued at approximately $135,289,000. Picton Mahoney Asset Management bought a new stake in shares of Celestica during the second quarter worth $90,425,000. Legal & General Group Plc raised its holdings in shares of Celestica by 103.3% during the second quarter. Legal & General Group Plc now owns 743,570 shares of the technology company’s stock worth $115,961,000 after acquiring an additional 377,825 shares during the period. Finally, 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 acquiring an additional 375,910 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

Insiders Place Their Bets

In other Celestica news, President Todd C. Cooper sold 89,484 shares of Celestica stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $287.45, for a total transaction of $25,722,175.80. Following the completion of the transaction, the president directly owned 108,970 shares of the company’s stock, valued at $31,323,426.50. The trade was a 45.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Yann L. Etienvre sold 86,229 shares of the 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 297,923 shares of company stock valued at $88,027,459 over the last 90 days. 0.52% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. TD Cowen reiterated a “hold” rating on shares of Celestica in a report on Friday, January 30th. BMO Capital Markets restated an “outperform” rating on shares of Celestica in a research note on Monday, January 26th. Wolfe Research raised Celestica to a “strong-buy” rating in a research report on Tuesday, February 17th. Bank of America initiated coverage on shares of Celestica in a research note on Wednesday, January 28th. They set a “buy” rating and a $400.00 price target for the company. Finally, Citigroup cut their price objective on shares of Celestica from $375.00 to $338.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $356.59.

Celestica Price Performance

Shares of CLS opened at $277.43 on Friday. The company has a current ratio of 1.47, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The company’s fifty day simple moving average is $300.32 and its 200 day simple moving average is $281.63. Celestica, Inc. has a 1-year low of $58.05 and a 1-year high of $363.40. The company has a market cap of $31.92 billion, a price-to-earnings ratio of 38.64 and a beta of 1.86.

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.