Cactus, Inc. (NYSE:WHD) Shares Sold by Raymond James & Associates

Raymond James & Associates cut its stake in shares of Cactus, Inc. (NYSE:WHD) by 23.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 112,572 shares of the company’s stock after selling 33,554 shares during the period. Raymond James & Associates owned approximately 0.14% of Cactus worth $6,717,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Cactus by 41.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 323,485 shares of the company’s stock worth $16,203,000 after acquiring an additional 94,704 shares during the period. Norden Group LLC boosted its holdings in Cactus by 1,182.8% in the 1st quarter. Norden Group LLC now owns 117,252 shares of the company’s stock valued at $5,873,000 after purchasing an additional 108,112 shares in the last quarter. Bessemer Group Inc. boosted its holdings in Cactus by 7.2% in the 1st quarter. Bessemer Group Inc. now owns 248,369 shares of the company’s stock valued at $12,441,000 after purchasing an additional 16,662 shares in the last quarter. Silvercrest Asset Management Group LLC increased its position in Cactus by 4.5% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 203,153 shares of the company’s stock worth $10,176,000 after purchasing an additional 8,833 shares during the period. Finally, Sei Investments Co. raised its stake in shares of Cactus by 13.2% during the 1st quarter. Sei Investments Co. now owns 345,228 shares of the company’s stock worth $17,291,000 after buying an additional 40,228 shares in the last quarter. 85.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on WHD shares. Stifel Nicolaus dropped their price objective on Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Barclays upped their price target on shares of Cactus from $56.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Piper Sandler reduced their price objective on shares of Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Citigroup upped their target price on shares of Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Finally, Bank of America raised their price objective on Cactus from $44.00 to $48.00 and gave the company an “underperform” rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $56.40.

Cactus Trading Up 0.4 %

NYSE WHD opened at $57.29 on Thursday. The company has a market cap of $4.56 billion, a P/E ratio of 22.82, a P/E/G ratio of 2.79 and a beta of 1.95. Cactus, Inc. has a 12 month low of $37.58 and a 12 month high of $64.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.75 and a quick ratio of 2.59. The company has a 50-day moving average of $59.74 and a 200-day moving average of $55.72.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. The firm had revenue of $293.18 million during the quarter, compared to analyst estimates of $287.47 million. Cactus had a net margin of 16.88% and a return on equity of 21.22%. Cactus’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.80 earnings per share. As a group, equities analysts predict that Cactus, Inc. will post 3.04 earnings per share for the current year.

Cactus Profile

Cactus, Inc, together with its subsidiaries, designs, manufactures, sells, and leases pressure control and spoolable pipes in the United States, Australia, Canada, the Middle East, and internationally. It operates through two segments, Pressure Control and Spoolable Technologies. The Pressure Control segment designs, manufactures, sells, and rents a range of wellhead and pressure control equipment under the Cactus Wellhead brand name through service centers.