Celestica, Inc. $CLS Shares Acquired by Fulcrum Asset Management LLP

Key Points

• Fulcrum Asset Management increased its Celestica stake by 255.5% in the third quarter, ending the period with 12,222 shares valued at approximately $4.48 million. Institutional investors and hedge funds own 67.38% of the stock.
• Celestica reported quarterly EPS of $3.30, beating the $3.02 consensus, while revenue of $5.74 billion topped estimates of $5.39 billion.
• Company insiders sold 67,010 shares worth about $24.3 million over the last quarter. Analysts’ average rating is “Buy,” with an average price target of $445.14.

Fulcrum Asset Management LLP raised its holdings in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 255.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,222 shares of the technology company's stock after purchasing an additional 8,784 shares during the period. Fulcrum Asset Management LLP's holdings in Celestica were worth $4,476,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Washington Trust Advisors Inc. acquired a new position in Celestica during the 2nd quarter valued at about $28,000. Elevation Wealth Partners LLC purchased a new stake in Celestica in the third quarter valued at about $28,000. Ascentis Independent Advisors acquired a new stake in Celestica in the first quarter worth about $29,000. Latitude Advisors LLC acquired a new stake in Celestica in the third quarter worth about $40,000. Finally, Mather Group LLC. boosted its holdings in Celestica by 266.7% in the third quarter. Mather Group LLC. now owns 121 shares of the technology company's stock worth $44,000 after acquiring an additional 88 shares in the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Celestica

In related news, CEO Robert Mionis sold 23,496 shares of the business's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $362.39, for a total value of $8,514,715.44. Following the completion of the sale, the chief executive officer directly owned 23,396 shares of the company's stock, valued at $8,478,476.44. The trade was a 50.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Todd Cooper sold 20,118 shares of the business's stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $360.00, for a total value of $7,242,480.00. Following the completion of the sale, the president owned 73,252 shares of the company's stock, valued at approximately $26,370,720. This represents a 21.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 67,010 shares of company stock worth $24,278,487 over the last quarter. 1.10% of the stock is currently owned by insiders.

Celestica Stock Up 8.2%

Shares of NYSE CLS opened at $223.62 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.61 and a debt-to-equity ratio of 0.13. Celestica, Inc. has a 52-week low of $197.50 and a 52-week high of $474.02. The firm has a market cap of $28.20 billion, a price-to-earnings ratio of 25.37, a price-to-earnings-growth ratio of 0.63 and a beta of 2.10. The company's 50-day simple moving average is $315.80 and its 200-day simple moving average is $328.76.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last announced its quarterly earnings results on Monday, October 26th. The technology company reported $3.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.02 by $0.28. The business had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.39 billion. Celestica had a net margin of 6.83% and a return on equity of 33.80%. Equities analysts predict that Celestica, Inc. will post 10.97 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CLS. FBN Securities initiated coverage on Celestica in a research note on Tuesday, September 15th. They set an "outperform" rating and a $375.00 price target on the stock. Canadian Imperial Bank of Commerce increased their price objective on shares of Celestica from $480.00 to $500.00 and gave the company an "outperform" rating in a research report on Wednesday, July 29th. TD Cowen reiterated a "buy" rating on shares of Celestica in a research note on Tuesday, October 27th. RBC Dominion Securities set a $450.00 target price on shares of Celestica and gave the stock an "outperform" rating in a research report on Friday, October 23rd. Finally, Wolfe Research boosted their target price on shares of Celestica from $425.00 to $475.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $445.14.

About Celestica

Celestica Inc is a global provider of design, manufacturing, and supply chain services for companies across technology and industrial markets. Its work spans product development, engineering, manufacturing, testing, and ongoing product support.

The company's offerings include hardware and infrastructure used in cloud computing and data centers, communications networks, aerospace and defense, industrial equipment, and health technology. It also provides supply chain management and other services to support products throughout their lifecycle.

Celestica traces its roots to IBM's manufacturing operations and became an independent company in 1996.

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