Celestica, Inc. $CLS Shares Sold by Neumeier Poma Investment Counsel LLC

Key Points

• Neumeier Poma Investment Counsel LLC cut its stake in Celestica by 51% in Q3, selling 156,184 shares and retaining 149,950 shares (about $36.95M), making CLS its 13th largest holding.
• Company insiders sold a total of 297,923 shares (~$88.03M) over the last quarter, including President Jason Phillips' sale of 100,000 shares for about $30.9M, leaving insiders with just 0.52% ownership.
• Analyst sentiment is broadly positive—Celestica has a consensus rating of "Moderate Buy" with an average price target of $356.59—and institutional ownership is high at 67.38% (Vanguard holds ~4.74M shares worth $1.166B).

Neumeier Poma Investment Counsel LLC decreased its holdings in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 51.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 149,950 shares of the technology company's stock after selling 156,184 shares during the quarter. Celestica accounts for about 3.0% of Neumeier Poma Investment Counsel LLC's holdings, making the stock its 13th largest holding. Neumeier Poma Investment Counsel LLC owned 0.13% of Celestica worth $36,945,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Celestica by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 4,738,673 shares of the technology company's stock worth $1,166,093,000 after buying an additional 97,755 shares during the period. Franklin Resources Inc. lifted its position in shares of Celestica by 25.8% in the second 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. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Celestica by 17.6% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,733,686 shares of the technology company's stock worth $271,045,000 after purchasing an additional 259,504 shares in the last quarter. Norges Bank acquired a new position in Celestica in the 2nd quarter valued at $236,069,000. Finally, Geode Capital Management LLC lifted its holdings in Celestica by 27.6% in the 2nd quarter. Geode Capital Management LLC now owns 962,521 shares of the technology company's stock valued at $153,449,000 after purchasing an additional 208,249 shares in the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CLS shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Celestica in a report on Wednesday, January 21st. Royal Bank Of Canada reiterated an "outperform" rating and issued a $400.00 price objective on shares of Celestica in a report on Thursday, January 22nd. Wolfe Research raised shares of Celestica to a "strong-buy" rating in a research note on Tuesday, February 17th. JPMorgan Chase & Co. upped their price target on Celestica from $295.00 to $360.00 and gave the company an "overweight" rating in a research report on Wednesday, October 29th. Finally, New Street Research set a $400.00 price target on Celestica in a report on Wednesday, October 29th. Two investment 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 company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $356.59.

Insider Buying and Selling at Celestica

In other Celestica news, insider Yann L. Etienvre sold 1,145 shares of the company's stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $283.51, for a total transaction of $324,618.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Jason Phillips sold 100,000 shares of Celestica stock in a transaction on Friday, February 6th. The shares were sold at an average price of $308.92, for a total value of $30,892,000.00. Following the completion of the sale, the president directly owned 12,584 shares of the company's stock, valued at $3,887,449.28. The trade was a 88.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 297,923 shares of company stock valued at $88,027,459 over the last quarter. 0.52% of the stock is owned by company insiders.

Celestica Price Performance

Celestica stock opened at $294.46 on Thursday. The company's 50 day simple moving average is $300.46 and its 200-day simple moving average is $281.14. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.47. Celestica, Inc. has a 1 year low of $58.05 and a 1 year high of $363.40. The company has a market capitalization of $33.88 billion, a price-to-earnings ratio of 41.01 and a beta of 1.86.

Celestica Company 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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