Russell Investments Group Ltd. bought a new position in Cactus Inc (NYSE:WHD) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 39,507 shares of the company’s stock, valued at approximately $1,510,000. Russell Investments Group Ltd. owned about 0.05% of Cactus at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Cactus by 22.2% in the second quarter. BlackRock Inc. now owns 2,332,388 shares of the company’s stock worth $78,811,000 after purchasing an additional 423,339 shares during the last quarter. Northern Trust Corp boosted its holdings in Cactus by 39.3% in the second quarter. Northern Trust Corp now owns 332,864 shares of the company’s stock worth $11,248,000 after purchasing an additional 93,903 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Cactus by 91.1% in the second quarter. Wells Fargo & Company MN now owns 279,445 shares of the company’s stock worth $9,443,000 after purchasing an additional 133,213 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Cactus by 117.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 241,776 shares of the company’s stock worth $8,170,000 after purchasing an additional 130,716 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Cactus by 165.9% in the second quarter. Bank of New York Mellon Corp now owns 218,305 shares of the company’s stock worth $7,377,000 after purchasing an additional 136,203 shares during the last quarter. Institutional investors own 50.74% of the company’s stock.
Shares of NYSE WHD opened at $29.84 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 3.52. The firm has a market capitalization of $2.25 billion and a price-to-earnings ratio of 0.02. Cactus Inc has a 52-week low of $19.18 and a 52-week high of $40.97.
Cactus (NYSE:WHD) last posted its earnings results on Wednesday, October 31st. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. Cactus had a net margin of 11.31% and a return on equity of 51.28%. The firm had revenue of $150.70 million for the quarter, compared to the consensus estimate of $146.35 million. Cactus’s revenue for the quarter was up 57.0% on a year-over-year basis. On average, equities analysts forecast that Cactus Inc will post 1.74 earnings per share for the current year.
Several equities research analysts recently issued reports on WHD shares. Morgan Stanley began coverage on shares of Cactus in a report on Tuesday, September 18th. They issued an “overweight” rating and a $42.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on shares of Cactus from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Monday, September 17th. Citigroup set a $42.00 price target on shares of Cactus and gave the stock a “buy” rating in a research note on Friday, November 2nd. Zacks Investment Research upgraded shares of Cactus from a “hold” rating to a “strong-buy” rating and set a $44.00 price target on the stock in a research note on Thursday, October 4th. Finally, Piper Jaffray Companies set a $37.00 price objective on shares of Cactus and gave the company a “buy” rating in a research report on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Cactus currently has a consensus rating of “Buy” and an average target price of $39.40.
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Cactus Company Profile
Cactus, Inc engages in the design, manufacture, sale and rent out of a range of engineered wellhead and pressure control equipment. The products of the firm are sold and rented principally for onshore unconventional oil and gas wells, and are utilized during the drilling, completion, and production phase of wells.
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