Wesbanco Bank Inc. Lowers Stock Holdings in Celestica, Inc. $CLS

Key Points

• Wesbanco Bank Inc. reduced its stock holdings in Celestica, Inc. by 19% in Q2, now owning 17,000 shares valued at approximately $2.65 million.
• Celestica reported earnings of $1.39 per share for the last quarter, surpassing analysts' expectations of $1.23, with revenue increasing 21% year-over-year.
• Multiple large investors, including Vanguard Group and Voya Investment Management, have increased their stakes in Celestica, indicating strong institutional interest in the company.

Wesbanco Bank Inc. trimmed its holdings in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 19.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 17,000 shares of the technology company's stock after selling 4,000 shares during the period. Wesbanco Bank Inc.'s holdings in Celestica were worth $2,654,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. 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. Voya Investment Management LLC increased its position in shares of Celestica by 362.8% during the first quarter. Voya Investment Management LLC now owns 1,854,085 shares of the technology company's stock valued at $146,122,000 after acquiring an additional 1,453,473 shares in the last quarter. Royal Bank of Canada increased its position in shares of Celestica by 1.5% during the first quarter. Royal Bank of Canada now owns 1,280,563 shares of the technology company's stock valued at $100,922,000 after acquiring an additional 19,391 shares in the last quarter. Alkeon Capital Management LLC bought a new stake in shares of Celestica during the first quarter valued at approximately $96,936,000. Finally, BNP Paribas Financial Markets increased its position in shares of Celestica by 79.3% during the first quarter. BNP Paribas Financial Markets now owns 991,776 shares of the technology company's stock valued at $78,162,000 after acquiring an additional 438,762 shares in the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Celestica Trading Down 1.7%

Shares of CLS stock opened at $241.65 on Monday. Celestica, Inc. has a 1 year low of $44.46 and a 1 year high of $257.40. The firm has a fifty day moving average price of $192.94 and a 200-day moving average price of $135.20. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.44 and a quick ratio of 0.86. The company has a market cap of $27.80 billion, a price-to-earnings ratio of 52.30 and a beta of 1.89.

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CLS shares. Royal Bank Of Canada raised their price target on shares of Celestica from $185.00 to $225.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. BNP Paribas raised shares of Celestica to a "strong-buy" rating in a research report on Wednesday, June 11th. JPMorgan Chase & Co. raised their price target on shares of Celestica from $225.00 to $295.00 and gave the company an "overweight" rating in a research report on Monday, September 8th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $130.00 target price (up previously from $118.00) on shares of Celestica in a research report on Thursday, May 22nd. Finally, Wall Street Zen downgraded shares of Celestica from a "buy" rating to a "hold" rating in a research report on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $174.75.

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.

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