Raymond James Financial Inc. Makes New $47.69 Million Investment in Celestica Inc. (NYSE:CLS)

Raymond James Financial Inc. bought a new position in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 516,628 shares of the technology company’s stock, valued at approximately $47,685,000. Raymond James Financial Inc. owned approximately 0.44% of Celestica as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Cornerstone Wealth Management LLC acquired a new position in shares of Celestica during the 4th quarter worth $385,000. Quantbot Technologies LP raised its stake in shares of Celestica by 120.9% during the 3rd quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock worth $5,299,000 after buying an additional 56,732 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Celestica during the 3rd quarter worth $61,210,000. Sigma Planning Corp acquired a new position in shares of Celestica during the 3rd quarter worth $420,000. Finally, Advisors Asset Management Inc. raised its stake in shares of Celestica by 61.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company’s stock worth $1,682,000 after buying an additional 12,584 shares during the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Celestica Trading Up 6.9 %

NYSE CLS opened at $86.73 on Wednesday. Celestica Inc. has a 12 month low of $40.25 and a 12 month high of $144.27. The company has a 50-day moving average of $110.98 and a 200-day moving average of $84.13. 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 company has a market cap of $10.09 billion, a P/E ratio of 23.19 and a beta of 2.21.

Insider Activity

In other news, CEO Robert Mionis sold 75,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $141.29, for a total transaction of $10,596,750.00. Following the completion of the sale, the chief executive officer now owns 456,417 shares in the company, valued at approximately $64,487,157.93. The trade was a 14.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Todd C. Cooper sold 9,538 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $1,216,476.52. Following the sale, the president now owns 175,426 shares of the company’s stock, valued at $22,373,832.04. The trade was a 5.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 959,381 shares of company stock valued at $119,142,019 in the last 90 days. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CLS shares. UBS Group started coverage on Celestica in a research note on Friday, November 22nd. They set a “neutral” rating and a $95.00 price target for the company. Royal Bank of Canada lifted their price target on Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. TD Securities boosted their target price on shares of Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Stifel Nicolaus boosted their target price on shares of Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. began coverage on shares of Celestica in a research note on Friday, February 21st. They issued an “overweight” rating and a $166.00 target price for the company. Two investment 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 MarketBeat.com, Celestica presently has an average rating of “Moderate Buy” and a consensus price target of $110.83.

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.