Norges Bank Acquires New Stake in Celestica Inc. (NYSE:CLS)

Norges Bank bought a new stake in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,507,219 shares of the technology company’s stock, valued at approximately $139,008,000.

Several other institutional investors also recently bought and sold shares of the company. Peregrine Capital Management LLC purchased a new position in shares of Celestica in the fourth quarter valued at approximately $30,000. R Squared Ltd purchased a new position in Celestica in the 4th quarter valued at approximately $51,000. IFP Advisors Inc increased its position in shares of Celestica by 122.7% during the fourth quarter. IFP Advisors Inc now owns 668 shares of the technology company’s stock worth $62,000 after acquiring an additional 368 shares during the period. UMB Bank n.a. increased its position in shares of Celestica by 43.6% during the fourth quarter. UMB Bank n.a. now owns 949 shares of the technology company’s stock worth $88,000 after acquiring an additional 288 shares during the period. Finally, Wolff Wiese Magana LLC boosted its holdings in Celestica by 47.7% in the fourth quarter. Wolff Wiese Magana LLC now owns 1,100 shares of the technology company’s stock valued at $102,000 after purchasing an additional 355 shares during the period. 67.38% of the stock is owned by institutional investors and hedge funds.

Celestica Stock Performance

Shares of CLS stock opened at $78.83 on Tuesday. The stock’s 50-day moving average is $107.40 and its two-hundred day moving average is $88.61. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. Celestica Inc. has a 1 year low of $40.25 and a 1 year high of $144.27. The firm has a market cap of $9.14 billion, a price-to-earnings ratio of 21.08 and a beta of 2.21.

Wall Street Analysts Forecast Growth

CLS has been the subject of several analyst reports. Royal Bank of Canada boosted their target price on Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Canaccord Genuity Group raised their target price on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 20th. Barclays boosted their price target on shares of Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, CIBC upgraded shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price objective on the stock in a report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Celestica presently has an average rating of “Moderate Buy” and a consensus target price of $110.83.

Insider Buying and Selling

In other news, President Todd C. Cooper sold 65,000 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the transaction, the president now directly owns 110,426 shares in the company, valued at approximately $14,331,086.28. This trade represents a 37.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alok K. Agrawal sold 6,826 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total transaction of $914,137.92. Following the completion of the sale, the insider now owns 9,224 shares of the company’s stock, valued at approximately $1,235,278.08. This trade represents a 42.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 959,381 shares of company stock worth $119,142,019 in the last quarter. 1.00% of the stock is owned by insiders.

About Celestica

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.