Allspring Global Investments Holdings LLC Trims Stock Position in Celestica Inc. (NYSE:CLS)

Allspring Global Investments Holdings LLC trimmed its stake in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 32.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 107,127 shares of the technology company’s stock after selling 51,115 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Celestica were worth $9,888,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cornerstone Wealth Management LLC purchased a new stake in shares of Celestica in the 4th quarter valued at approximately $385,000. Quantbot Technologies LP grew its holdings in shares of Celestica by 120.9% in the third quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock valued at $5,299,000 after purchasing an additional 56,732 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Celestica in the third quarter valued at approximately $61,210,000. Sigma Planning Corp acquired a new position in shares of Celestica in the third quarter valued at approximately $420,000. Finally, Advisors Asset Management Inc. grew its holdings in shares of Celestica by 61.9% in the third quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company’s stock valued at $1,682,000 after purchasing an additional 12,584 shares in the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Celestica

In related news, CEO Robert Mionis sold 52,588 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $127.54, for a total value of $6,707,073.52. Following the transaction, the chief executive officer now owns 531,417 shares in the company, valued at approximately $67,776,924.18. This trade represents a 9.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Alok K. Agrawal sold 6,826 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $133.92, for a total transaction of $914,137.92. Following the sale, the insider now directly owns 9,224 shares of the company’s stock, valued at $1,235,278.08. The trade was a 42.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 959,381 shares of company stock worth $119,142,019 in the last three months. Company insiders own 1.00% of the company’s stock.

Celestica Trading Up 0.2 %

Shares of CLS stock opened at $132.31 on Wednesday. The firm has a market cap of $15.40 billion, a P/E ratio of 35.38 and a beta of 2.27. Celestica Inc. has a 1-year low of $36.11 and a 1-year high of $144.27. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The firm’s 50-day simple moving average is $107.98 and its 200-day simple moving average is $78.37.

Analyst Ratings Changes

Several brokerages have recently issued reports on CLS. Canaccord Genuity Group upped 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. Royal Bank of Canada upped their target price on shares of Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Cibc World Mkts upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Stifel Nicolaus began coverage on shares of Celestica in a report on Tuesday, February 4th. They issued a “buy” rating and a $140.00 target price for the company. Finally, TD Securities upped their target price on shares of Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $104.91.

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.