Robeco Institutional Asset Management B.V. Buys 6,960 Shares of Celestica, Inc. $CLS

Key Points

• Robeco Institutional Asset Management raised its Celestica stake by 20% in Q4, buying 6,960 shares to hold 41,729 shares worth about $12.34 million.
• Heavy insider selling: Presidents Jason Phillips and Todd C. Cooper sold 100,000 and 89,484 shares respectively in early February, and insiders have sold 297,923 shares (~$88.0M) over the past three months, leaving insiders with just 0.52% ownership.
• Stock and analyst backdrop: Celestica shares have rallied (opened around $384, near a $392 52‑week high), trade at a ~53.5 PE with a $44.2B market cap, and carry a consensus rating of "Moderate Buy" with an average target of $359.

Robeco Institutional Asset Management B.V. boosted its stake in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 20.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,729 shares of the technology company's stock after purchasing an additional 6,960 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Celestica were worth $12,336,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased its holdings in Celestica by 42.5% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company's stock valued at $31,000 after purchasing an additional 37 shares during the last quarter. First Horizon Corp bought a new stake in shares of Celestica in the third quarter worth about $31,000. Avion Wealth bought a new stake in shares of Celestica in the third quarter worth about $40,000. Fifth Third Bancorp increased its holdings in shares of Celestica by 48.7% in the third quarter. Fifth Third Bancorp now owns 171 shares of the technology company's stock worth $42,000 after acquiring an additional 56 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC bought a new stake in shares of Celestica in the fourth quarter worth about $52,000. Institutional investors own 67.38% of the company's stock.

Insider Buying and Selling

In related news, President Jason Phillips sold 100,000 shares of the 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 transaction, the president directly owned 12,584 shares of the company's stock, valued at approximately $3,887,449.28. This represents a 88.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Todd C. Cooper sold 89,484 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $287.45, for a total value of $25,722,175.80. Following the transaction, the president directly owned 108,970 shares of the company's stock, valued at $31,323,426.50. This trade represents a 45.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 297,923 shares of company stock worth $88,027,459. 0.52% of the stock is owned by corporate insiders.

Celestica Stock Up 5.2%

NYSE:CLS opened at $384.29 on Wednesday. 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 company has a market cap of $44.18 billion, a PE ratio of 53.52 and a beta of 1.88. Celestica, Inc. has a 52-week low of $77.86 and a 52-week high of $392.12. The stock has a 50-day simple moving average of $289.12 and a 200 day simple moving average of $297.41.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CLS shares. Zacks Research downgraded Celestica from a "strong-buy" rating to a "hold" rating in a report on Monday, April 6th. Susquehanna started coverage on Celestica in a report on Wednesday, April 1st. They issued a "positive" rating and a $375.00 price target for the company. TD Securities increased their price target on Celestica from $305.00 to $330.00 and gave the stock a "hold" rating in a report on Friday, January 30th. TD Cowen restated a "hold" rating on shares of Celestica in a report on Friday, January 30th. Finally, Wall Street Zen upgraded Celestica from a "hold" rating to a "buy" rating in a report on Friday, January 23rd. One 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 stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $359.00.

About Celestica

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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