Ritholtz Wealth Management Sells 3,530 Shares of Celestica, Inc. $CLS

Key Points

• Ritholtz Wealth Management cut its Celestica stake by 7.7%, selling 3,530 shares and holding 42,484 shares valued at about $12.56 million per its latest 13F filing.
• There has been notable insider selling—297,923 shares (~$88.03M) sold in the last three months—while institutional investors collectively own about 67.38% of the company.
• Analysts are broadly bullish: the consensus rating is Moderate Buy with a $355.39 target, several firms have recently initiated or raised buy ratings and targets (up to $430), and the stock trades near its 12‑month high (~$350.64) with a $40.31B market cap.

Ritholtz Wealth Management lowered its position in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 7.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 42,484 shares of the technology company's stock after selling 3,530 shares during the period. Ritholtz Wealth Management's holdings in Celestica were worth $12,559,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CLS. NewGen Equity Long Short Fund bought a new position in Celestica in the second quarter worth approximately $14,050,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Celestica by 7,646.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,007 shares of the technology company's stock worth $157,000 after acquiring an additional 994 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Celestica by 30.0% in the second quarter. First Trust Advisors LP now owns 78,061 shares of the technology company's stock worth $12,197,000 after purchasing an additional 18,025 shares during the last quarter. Ossiam purchased a new stake in shares of Celestica in the second quarter worth approximately $324,000. Finally, NewEdge Advisors LLC raised its stake in shares of Celestica by 385.8% in the second quarter. NewEdge Advisors LLC now owns 2,803 shares of the technology company's stock worth $438,000 after purchasing an additional 2,226 shares during the last quarter. Institutional investors own 67.38% of the company's stock.

Celestica Stock Performance

Shares of CLS opened at $350.64 on Friday. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $40.31 billion, a price-to-earnings ratio of 48.84 and a beta of 1.88. The stock has a 50 day moving average of $285.75 and a 200 day moving average of $294.92. Celestica, Inc. has a 12 month low of $75.15 and a 12 month high of $363.40.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CLS shares. Bank of America started coverage on Celestica in a research note on Wednesday, January 28th. They issued a "buy" rating and a $400.00 price objective for the company. Aletheia Capital increased their price objective on Celestica from $330.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, January 20th. Wall Street Zen raised Celestica from a "hold" rating to a "buy" rating in a research note on Friday, January 23rd. Canaccord Genuity Group increased their price objective on Celestica from $400.00 to $430.00 and gave the stock a "buy" rating in a research note on Monday, February 2nd. Finally, Susquehanna started coverage on Celestica in a research note on Wednesday, April 1st. They issued a "positive" rating and a $375.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $355.39.

Insider Activity at Celestica

In related news, President Todd C. Cooper sold 1,065 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $283.51, for a total transaction of $301,938.15. Following the completion of the sale, the president directly owned 108,970 shares of the company's stock, valued at approximately $30,894,084.70. This trade represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Yann L. Etienvre sold 1,145 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $283.51, for a total value of $324,618.95. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 297,923 shares of company stock valued at $88,027,459. 0.52% of the stock is owned by insiders.

Celestica Company Profile

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company's service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.

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