PCJ Investment Counsel Ltd. Purchases New Stake in Celestica, Inc. $CLS

Key Points

• PCJ Investment Counsel Ltd. purchased a new stake of 6,280 shares in Celestica (NYSE:CLS) in Q3, valued at about $1.545 million.
• Several institutions significantly increased positions—BNP Paribas now owns 438,777 shares (after a 6,788% increase) and Franklin Resources holds 1.92M shares—leaving institutional investors with roughly 67.38% ownership of CLS.
• Insiders sold heavily last quarter (297,923 shares worth ~$88.03M), including President Jason Phillips' sale of 100,000 shares for about $30.9M; insiders now own roughly 0.52% of the stock.

PCJ Investment Counsel Ltd. purchased a new stake in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 6,280 shares of the technology company's stock, valued at approximately $1,545,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its holdings in shares of Celestica by 6,788.2% in the third quarter. BNP Paribas Financial Markets now owns 438,777 shares of the technology company's stock valued at $108,106,000 after purchasing an additional 432,407 shares during the last quarter. Mackenzie Financial Corp grew its stake in Celestica by 35.5% in the 3rd quarter. Mackenzie Financial Corp now owns 199,320 shares of the technology company's stock valued at $49,038,000 after buying an additional 52,230 shares during the last quarter. Franklin Resources Inc. lifted its position in Celestica by 4.8% during the third quarter. Franklin Resources Inc. now owns 1,921,417 shares of the technology company's stock worth $473,386,000 after acquiring an additional 88,212 shares during the last quarter. Magnetar Financial LLC boosted its holdings in shares of Celestica by 888.3% during the third quarter. Magnetar Financial LLC now owns 23,502 shares of the technology company's stock worth $5,790,000 after acquiring an additional 21,124 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of Celestica by 2.6% in the third quarter. Van ECK Associates Corp now owns 20,858 shares of the technology company's stock valued at $5,132,000 after purchasing an additional 524 shares during the last quarter. 67.38% of the stock is owned by institutional investors.

Celestica Stock Performance

NYSE:CLS opened at $269.08 on Wednesday. The company has a market cap of $30.96 billion, a price-to-earnings ratio of 37.48 and a beta of 1.88. Celestica, Inc. has a fifty-two week low of $58.05 and a fifty-two week high of $363.40. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 1.44. The stock has a fifty day moving average price of $294.56 and a 200-day moving average price of $286.33.

Insider Buying and Selling

In other news, President Todd C. Cooper sold 1,065 shares of the business's stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $283.51, for a total value of $301,938.15. Following the completion of the transaction, the president directly owned 108,970 shares in the company, valued at approximately $30,894,084.70. The trade was a 0.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Jason Phillips sold 100,000 shares of the company'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 sale, the president directly owned 12,584 shares of the company's stock, valued at approximately $3,887,449.28. This trade represents a 88.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 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.

Wall Street Analysts Forecast Growth

CLS has been the subject of several research reports. Weiss Ratings reissued a "buy (b)" rating on shares of Celestica in a report on Wednesday, January 21st. TD Securities lifted their target price on Celestica from $305.00 to $330.00 and gave the stock a "hold" rating in a report on Friday, January 30th. Aletheia Capital boosted their target price on shares of Celestica from $330.00 to $410.00 and gave the company a "buy" rating in a research report on Tuesday, January 20th. BMO Capital Markets restated an "outperform" rating on shares of Celestica in a research note on Monday, January 26th. Finally, Zacks Research raised shares of Celestica from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $356.59.

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.

Want to see what other hedge funds are holding CLS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.