Bank of Montreal Can Grows Stock Holdings in Celestica, Inc. $CLS

Key Points

• Bank of Montreal Can raised its Celestica stake 16.8% in Q3 to 1,130,923 shares, representing a 0.98% ownership worth about $278.24 million.
• Insider selling has been heavy: President Jason Phillips sold 100,000 shares for roughly $30.9 million on Feb. 6, and insiders have sold 297,923 shares totalling about $88.03 million in the past 90 days.
• Analysts are largely bullish—several firms raised targets (e.g., Canaccord to $430, Aletheia to $410) and the stock has a consensus "Moderate Buy" with an average price target of $356.59.

Bank of Montreal Can grew its stake in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 16.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,130,923 shares of the technology company's stock after acquiring an additional 162,569 shares during the period. Bank of Montreal Can owned 0.98% of Celestica worth $278,236,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB increased its holdings in Celestica by 42.5% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company's stock worth $31,000 after purchasing an additional 37 shares during the period. First Horizon Corp purchased a new stake in shares of Celestica in the 3rd quarter worth $31,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Celestica during the 2nd quarter worth $40,000. Avion Wealth bought a new position in shares of Celestica during the 3rd quarter worth $40,000. Finally, Fifth Third Bancorp increased its stake in shares of Celestica by 48.7% during the third quarter. Fifth Third Bancorp now owns 171 shares of the technology company's stock valued at $42,000 after buying an additional 56 shares during the period. Hedge funds and other institutional investors own 67.38% of the company's stock.

Insider Activity

In related news, President Jason Phillips sold 100,000 shares of the business's stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $308.92, for a total transaction of $30,892,000.00. Following the completion of the transaction, the president owned 12,584 shares in the company, valued at $3,887,449.28. The trade was a 88.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Yann L. Etienvre sold 1,145 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $283.51, for a total transaction of $324,618.95. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 297,923 shares of company stock worth $88,027,459. Corporate insiders own 0.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CLS shares. Aletheia Capital lifted their price objective on Celestica from $330.00 to $410.00 and gave the company a "buy" rating in a report on Tuesday, January 20th. Canaccord Genuity Group raised their target price on shares of Celestica from $400.00 to $430.00 and gave the company a "buy" rating in a research report on Monday, February 2nd. BMO Capital Markets restated an "outperform" rating on shares of Celestica in a report on Monday, January 26th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $400.00 price target on shares of Celestica in a research report on Thursday, January 22nd. Finally, Wall Street Zen upgraded shares of Celestica from a "hold" rating to a "buy" rating in a research note on Friday, January 23rd. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $356.59.

Celestica Price Performance

CLS opened at $269.08 on Wednesday. The business's 50-day moving average is $294.56 and its two-hundred day moving average is $286.33. Celestica, Inc. has a 1 year low of $58.05 and a 1 year high of $363.40. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.44 and a quick ratio of 0.88. The firm has a market capitalization of $30.96 billion, a PE ratio of 37.48 and a beta of 1.88.

Celestica Profile

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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