Legal & General Group Plc Acquires 229,542 Shares of Celestica, Inc. $CLS

Key Points

• Legal & General Group Plc increased its stake in Celestica by 30.9%, buying an additional 229,542 shares to own 973,112 shares (about 0.85% of the company) valued at roughly $239.5 million.
• Company insiders have been net sellers this quarter — including President Jason Phillips (100,000 shares) and Yann L. Etienvre (86,229 shares) — with insiders selling 297,923 shares totaling about $88.0 million and now owning just 0.52% of the stock.
• Analysts are mostly bullish: the consensus rating is a “Moderate Buy” with an average price target of $354.24, and several firms have recently raised targets (e.g., Canaccord to $430, Barclays to $391, Wolfe Research to strong-buy).

Legal & General Group Plc boosted its stake in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 30.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 973,112 shares of the technology company's stock after buying an additional 229,542 shares during the period. Legal & General Group Plc owned 0.85% of Celestica worth $239,527,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. LGT Fund Management Co Ltd. bought a new position in shares of Celestica in the 3rd quarter worth $4,510,000. Russell Investments Group Ltd. boosted its position in Celestica by 25.4% during the third quarter. Russell Investments Group Ltd. now owns 69,162 shares of the technology company's stock valued at $17,035,000 after purchasing an additional 14,011 shares in the last quarter. PFG Advisors grew its stake in Celestica by 4.8% in the third quarter. PFG Advisors now owns 9,021 shares of the technology company's stock valued at $2,223,000 after purchasing an additional 414 shares during the last quarter. Diversify Advisory Services LLC raised its holdings in Celestica by 0.4% in the third quarter. Diversify Advisory Services LLC now owns 15,094 shares of the technology company's stock worth $3,719,000 after purchasing an additional 60 shares in the last quarter. Finally, Regal Partners Ltd bought a new position in Celestica in the third quarter worth about $246,000. Institutional investors own 67.38% of the company's stock.

Celestica Trading Down 0.3%

Shares of Celestica stock opened at $265.03 on Friday. The stock has a market cap of $30.49 billion, a PE ratio of 36.91 and a beta of 1.88. The firm has a fifty day moving average price of $293.34 and a 200 day moving average price of $286.04. 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.

Insider Buying and Selling at Celestica

In other news, President Jason Phillips sold 100,000 shares of the company's stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $308.92, for a total value of $30,892,000.00. Following the sale, the president owned 12,584 shares in the company, valued at $3,887,449.28. This represents a 88.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Yann L. Etienvre sold 86,229 shares of the firm's stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $287.45, for a total value of $24,786,526.05. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 297,923 shares of company stock worth $88,027,459. Insiders own 0.52% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CLS shares. Citigroup lowered their price target on shares of Celestica from $375.00 to $338.00 and set a "buy" rating on the stock in a report on Friday, January 30th. Wall Street Zen raised shares of Celestica from a "hold" rating to a "buy" rating in a research report on Friday, January 23rd. 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 note on Monday, February 2nd. Barclays lifted their price target on shares of Celestica from $359.00 to $391.00 and gave the stock an "overweight" rating in a report on Friday, January 30th. Finally, Wolfe Research raised Celestica to a "strong-buy" rating in a research report on Tuesday, February 17th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $354.24.

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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