Neumeier Poma Investment Counsel LLC Increases Stake in Celestica Inc. (NYSE:CLS)

Neumeier Poma Investment Counsel LLC lifted its stake in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 32.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 306,260 shares of the technology company’s stock after buying an additional 74,940 shares during the quarter. Celestica makes up about 2.7% of Neumeier Poma Investment Counsel LLC’s investment portfolio, making the stock its 16th largest position. Neumeier Poma Investment Counsel LLC owned about 0.26% of Celestica worth $28,268,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Whale Rock Capital Management LLC lifted its stake in Celestica by 13.0% in the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock worth $432,846,000 after purchasing an additional 975,163 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Celestica in the fourth quarter worth about $47,685,000. Point72 Asset Management L.P. lifted its position in shares of Celestica by 38.5% in the third quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock worth $55,451,000 after buying an additional 301,563 shares in the last quarter. Alberta Investment Management Corp boosted its stake in Celestica by 161.5% during the fourth quarter. Alberta Investment Management Corp now owns 279,791 shares of the technology company’s stock valued at $25,808,000 after buying an additional 172,814 shares during the last quarter. Finally, Sora Investors LLC purchased a new position in Celestica during the 3rd quarter valued at approximately $7,668,000. Institutional investors own 67.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Royal Bank of Canada increased their target price on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. CIBC upgraded shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price on the stock 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 research report on Friday, January 31st. Canaccord Genuity Group lifted their price target on Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, Stifel Nicolaus upped their price objective on Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.83.

Insiders Place Their Bets

In related news, President Todd C. Cooper sold 65,000 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $129.78, for a total value of $8,435,700.00. Following the transaction, the president now owns 110,426 shares of the company’s stock, valued at $14,331,086.28. This trade represents a 37.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Yann L. Etienvre sold 9,181 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $127.54, for a total transaction of $1,170,944.74. Following the completion of the sale, the insider now directly owns 83,179 shares of the company’s stock, valued at approximately $10,608,649.66. This trade represents a 9.94 % decrease in their ownership of the stock. 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 over the last quarter. Company insiders own 1.00% of the company’s stock.

Celestica Price Performance

Shares of CLS stock opened at $87.73 on Thursday. The stock has a 50 day moving average price of $109.61 and a 200 day moving average price of $87.50. Celestica Inc. has a 52-week low of $40.25 and a 52-week high of $144.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The firm has a market capitalization of $10.17 billion, a P/E ratio of 23.46 and a beta of 2.21.

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.