Raymond James Financial Inc. Takes $16.38 Million Position in Cactus, Inc. (NYSE:WHD)

Raymond James Financial Inc. purchased a new stake in Cactus, Inc. (NYSE:WHD) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 280,623 shares of the company’s stock, valued at approximately $16,377,000. Raymond James Financial Inc. owned approximately 0.35% of Cactus at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its position in shares of Cactus by 74.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 522 shares of the company’s stock valued at $30,000 after buying an additional 223 shares in the last quarter. Quest Partners LLC bought a new position in Cactus in the third quarter valued at approximately $34,000. Versant Capital Management Inc increased its stake in Cactus by 165.4% in the fourth quarter. Versant Capital Management Inc now owns 576 shares of the company’s stock valued at $34,000 after acquiring an additional 359 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Cactus by 66.9% in the fourth quarter. Jones Financial Companies Lllp now owns 841 shares of the company’s stock valued at $49,000 after acquiring an additional 337 shares during the last quarter. Finally, KBC Group NV increased its stake in Cactus by 54.2% in the fourth quarter. KBC Group NV now owns 3,013 shares of the company’s stock valued at $176,000 after acquiring an additional 1,059 shares during the last quarter. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Cactus Price Performance

WHD stock opened at $45.75 on Tuesday. The company’s fifty day simple moving average is $57.24 and its 200 day simple moving average is $60.07. Cactus, Inc. has a 12-month low of $43.27 and a 12-month high of $70.01. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 5.13 and a beta of 2.05. The company has a quick ratio of 2.67, a current ratio of 3.82 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.01). Cactus had a net margin of 16.57% and a return on equity of 20.24%. The company had revenue of $272.12 million for the quarter, compared to analyst estimates of $277.59 million. On average, analysts expect that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.13 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.52 annualized dividend and a dividend yield of 1.14%. Cactus’s dividend payout ratio is currently 18.84%.

Analyst Ratings Changes

Separately, Barclays decreased their price objective on shares of Cactus from $61.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $55.00.

About Cactus

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.