Shell Asset Management Co. Reduces Position in Celestica Inc. (NYSE:CLS)

Posted by on Feb 26th, 2023

Shell Asset Management Co. cut its holdings in shares of Celestica Inc. (NYSE:CLS – Get Rating) (TSE:CLS) by 54.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,986 shares of the technology company’s stock after selling 43,545 shares during the period. Shell Asset Management Co.’s holdings in Celestica were worth $312,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CLS. JPMorgan Chase & Co. boosted its position in shares of Celestica by 120.3% during the first quarter. JPMorgan Chase & Co. now owns 193,371 shares of the technology company’s stock valued at $2,303,000 after buying an additional 105,576 shares during the last quarter. Raymond James & Associates purchased a new position in Celestica in the first quarter worth about $132,000. BlackRock Inc. boosted its position in Celestica by 20.3% in the first quarter. BlackRock Inc. now owns 265,505 shares of the technology company’s stock worth $3,162,000 after purchasing an additional 44,885 shares during the last quarter. APG Asset Management N.V. boosted its position in Celestica by 57.2% in the first quarter. APG Asset Management N.V. now owns 168,657 shares of the technology company’s stock worth $1,805,000 after purchasing an additional 61,400 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in Celestica by 35.4% in the first quarter. Great West Life Assurance Co. Can now owns 12,536 shares of the technology company’s stock worth $158,000 after purchasing an additional 3,276 shares during the last quarter. 56.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Citigroup raised their target price on Celestica from $12.00 to $14.00 and gave the stock a “neutral” rating in a research report on Friday, January 27th. Royal Bank of Canada reissued a “sector perform” rating and issued a $15.00 target price on shares of Celestica in a research report on Thursday. TD Securities raised their price objective on Celestica from $13.00 to $14.00 and gave the stock a “hold” rating in a research note on Friday, January 27th. Finally, BMO Capital Markets raised their price objective on Celestica from $14.00 to $15.50 and gave the stock an “outperform” rating in a research note on Friday, January 27th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $14.58.

Celestica Stock Up 0.1 %

Shares of CLS opened at $13.12 on Friday. The business’s 50 day moving average is $12.50 and its 200 day moving average is $11.07. The company has a market capitalization of $1.61 billion, a PE ratio of 11.12 and a beta of 2.07. Celestica Inc. has a 12-month low of $8.21 and a 12-month high of $14.28. The company has a current ratio of 1.42, a quick ratio of 0.65 and a debt-to-equity ratio of 0.44.

Celestica (NYSE:CLS – Get Rating) (TSE:CLS) last issued its earnings results on Wednesday, January 25th. The technology company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.03. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.96 billion. Celestica had a return on equity of 14.91% and a net margin of 2.01%. The firm’s quarterly revenue was up 35.1% on a year-over-year basis. During the same quarter last year, the company earned $0.44 EPS. Research analysts expect that Celestica Inc. will post 1.97 earnings per share for the current fiscal year.

Celestica Profile

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Celestica, Inc engages in the provision of supply chain solutions globally to original equipment manufacturers and service providers. It operates through the following segments: Advanced Technology Solutions (ATS) and Connectivity and Cloud Solutions (CCS). The ATS segment comprises of aerospace and defense, industrial, smart energy, health tech, and capital equipment businesses.

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Institutional Ownership by Quarter for Celestica (NYSE:CLS)

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