Russell Investments Group Ltd. Sells 58,165 Shares of Celestica, Inc. $CLS

Key Points

• Russell Investments Group Ltd. reduced its stake in Celestica, Inc. by 73.3%, selling 58,165 shares and ending the period with 21,175 shares worth $1.67 million.
• Several institutional investors, including Polar Capital Holdings and Balyasny Asset Management, significantly increased their positions in Celestica, demonstrating strong interest in the company.
• Celestica reported a 21% increase in revenue year-over-year and earnings per share of $1.39, exceeding analyst expectations of $1.23.

Russell Investments Group Ltd. trimmed its stake in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 73.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,175 shares of the technology company's stock after selling 58,165 shares during the period. Russell Investments Group Ltd.'s holdings in Celestica were worth $1,670,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Celestica by 0.8% during the first quarter. Vanguard Group Inc. now owns 4,514,605 shares of the technology company's stock valued at $356,135,000 after purchasing an additional 35,690 shares during the last quarter. Polar Capital Holdings Plc raised its position in Celestica by 822.6% during the fourth quarter. Polar Capital Holdings Plc now owns 1,607,969 shares of the technology company's stock valued at $148,416,000 after buying an additional 1,433,681 shares during the period. Royal Bank of Canada raised its position in Celestica by 23.0% during the fourth quarter. Royal Bank of Canada now owns 1,261,172 shares of the technology company's stock valued at $116,406,000 after buying an additional 236,124 shares during the period. Balyasny Asset Management L.P. raised its position in Celestica by 799.0% during the fourth quarter. Balyasny Asset Management L.P. now owns 802,227 shares of the technology company's stock valued at $74,044,000 after buying an additional 916,991 shares during the period. Finally, Mackenzie Financial Corp raised its position in Celestica by 39.3% during the fourth quarter. Mackenzie Financial Corp now owns 761,084 shares of the technology company's stock valued at $70,164,000 after buying an additional 214,872 shares during the period. 67.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CLS has been the topic of several recent analyst reports. Royal Bank Of Canada upped their price target on Celestica from $185.00 to $225.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. upped their price target on Celestica from $170.00 to $225.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. BNP Paribas raised Celestica to a "strong-buy" rating in a research report on Wednesday, June 11th. Wall Street Zen raised Celestica from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Barclays upped their target price on Celestica from $146.00 to $220.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $168.92.

Celestica Stock Down 8.1%

Shares of CLS traded down $17.21 during trading hours on Friday, hitting $195.12. 3,928,552 shares of the company were exchanged, compared to its average volume of 2,909,284. The company has a market cap of $22.45 billion, a PE ratio of 42.23 and a beta of 1.80. The firm's 50 day moving average is $177.19 and its 200-day moving average is $127.57. Celestica, Inc. has a 52 week low of $40.65 and a 52 week high of $218.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.44.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last released its quarterly earnings results on Monday, July 28th. The technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.16. Celestica had a return on equity of 28.23% and a net margin of 5.11%.The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter in the prior year, the company posted $0.91 EPS. The firm's revenue was up 21.0% on a year-over-year basis. Celestica has set its Q3 2025 guidance at 1.370-1.530 EPS. FY 2025 guidance at 5.500-5.500 EPS. On average, equities research analysts forecast that Celestica, Inc. will post 4.35 EPS for the current fiscal year.

Celestica Company Profile

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through two segments: Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.