Prosperity Wealth Management Inc. Takes $262,000 Position in Celestica Inc. (NYSE:CLS)

Prosperity Wealth Management Inc. bought a new stake in Celestica Inc. (NYSE:CLS) (TSE:CLS) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 2,835 shares of the technology company’s stock, valued at approximately $262,000.

Other large investors have also recently made changes to their positions in the company. Cornerstone Wealth Management LLC acquired a new position in shares of Celestica in the 4th quarter valued at $385,000. Quantbot Technologies LP lifted its stake in shares of Celestica by 120.9% in the 3rd 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 during the period. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Celestica in the 3rd quarter valued at $61,210,000. Sigma Planning Corp acquired a new position in shares of Celestica in the 3rd quarter valued at $420,000. Finally, Advisors Asset Management Inc. lifted its stake in shares of Celestica by 61.9% in the 3rd 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 during the period. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Celestica Price Performance

Shares of NYSE CLS opened at $89.71 on Thursday. The firm has a 50-day simple moving average of $110.87 and a 200-day simple moving average of $84.37. The stock has a market capitalization of $10.44 billion, a price-to-earnings ratio of 23.99 and a beta of 2.21. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. Celestica Inc. has a 52 week low of $40.25 and a 52 week high of $144.27.

Insider Activity

In related news, Director Michael Wilson sold 25,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the completion of the sale, the director now owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. This represents a 93.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Todd C. Cooper sold 65,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the president now directly owns 110,426 shares of the company’s stock, valued at $14,331,086.28. This represents a 37.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 959,381 shares of company stock worth $119,142,019 over the last three months. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Royal Bank of Canada boosted their target price on shares of Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. initiated coverage on shares of Celestica in a research report on Friday, February 21st. They set an “overweight” rating and a $166.00 price objective for the company. UBS Group initiated coverage on shares of Celestica in a research report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price objective for the company. CIBC upgraded shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price objective for the company in a research report on Friday, January 31st. Finally, Canaccord Genuity Group upped their price objective on shares of Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $110.83.

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.