Guyasuta Investment Advisors Inc. Trims Stock Position in Celestica, Inc. $CLS

Key Points

• Guyasuta Investment Advisors trimmed its stake in Celestica by 10.7% in Q4, leaving it with 24,890 shares valued at about $7.36 million.
• Large institutions sharply increased exposure—Arrowstreet now owns 3,146,928 shares (~$775 million) and Viking opened a roughly $424 million position—hedge funds collectively hold 67.38% of the stock.
• Company insiders have been net sellers: President Jason Phillips sold 100,000 shares for ~$30.9 million, and insiders disposed of 297,923 shares worth about $88.03 million over the past three months.

Guyasuta Investment Advisors Inc. lowered its stake in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 10.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 24,890 shares of the technology company's stock after selling 2,972 shares during the period. Guyasuta Investment Advisors Inc.'s holdings in Celestica were worth $7,358,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CLS. Arrowstreet Capital Limited Partnership raised its stake in shares of Celestica by 471.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,146,928 shares of the technology company's stock valued at $775,133,000 after buying an additional 2,596,318 shares during the last quarter. Viking Global Investors LP purchased a new position in shares of Celestica during the 3rd quarter valued at about $424,459,000. BNP Paribas Financial Markets raised its stake in shares of Celestica by 6,788.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 438,777 shares of the technology company's stock valued at $108,106,000 after buying an additional 432,407 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Celestica by 1,249.0% in the 3rd quarter. Marshall Wace LLP now owns 278,928 shares of the technology company's stock valued at $68,722,000 after purchasing an additional 258,251 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Celestica by 30.9% in the 3rd quarter. Legal & General Group Plc now owns 973,112 shares of the technology company's stock valued at $239,527,000 after purchasing an additional 229,542 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company's stock.

Insiders Place Their Bets

In other Celestica news, President Jason Phillips sold 100,000 shares of the business's stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $308.92, for a total transaction of $30,892,000.00. Following the completion of the sale, the president directly owned 12,584 shares in the company, valued at approximately $3,887,449.28. The trade was a 88.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Todd C. Cooper sold 1,065 shares of the business's stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $283.51, for a total value of $301,938.15. Following the sale, the president owned 108,970 shares of the company's stock, valued at approximately $30,894,084.70. This trade represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 297,923 shares of company stock worth $88,027,459. Corporate insiders own 0.52% of the company's stock.

Celestica Price Performance

Shares of Celestica stock opened at $350.64 on Monday. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.34. Celestica, Inc. has a twelve month low of $75.15 and a twelve month high of $363.40. The business has a 50-day moving average price of $285.75 and a 200 day moving average price of $295.57. The firm has a market cap of $40.31 billion, a PE ratio of 48.84 and a beta of 1.88.

Analysts Set New Price Targets

Several brokerages recently weighed in on CLS. Wolfe Research upgraded Celestica to a "strong-buy" rating in a research note on Tuesday, February 17th. Weiss Ratings restated a "buy (b)" rating on shares of Celestica in a research note on Wednesday, January 21st. Bank of America began coverage on Celestica in a research note on Wednesday, January 28th. They issued a "buy" rating and a $400.00 price target for the company. BMO Capital Markets restated an "outperform" rating on shares of Celestica in a research note on Monday, January 26th. Finally, Susquehanna began coverage on Celestica in a research note on Wednesday, April 1st. They issued a "positive" rating and a $375.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $355.39.

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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