Cactus Inc (WHD) Stake Lifted by Viking Fund Management LLC

Viking Fund Management LLC increased its holdings in shares of Cactus Inc (NYSE:WHD) by 1.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 265,000 shares of the company’s stock after acquiring an additional 5,000 shares during the period. Cactus accounts for about 2.3% of Viking Fund Management LLC’s holdings, making the stock its 9th biggest holding. Viking Fund Management LLC’s holdings in Cactus were worth $9,434,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. State Board of Administration of Florida Retirement System lifted its position in Cactus by 3.6% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 8,874 shares of the company’s stock worth $243,000 after buying an additional 308 shares during the period. Legal & General Group Plc lifted its holdings in shares of Cactus by 9.1% in the 4th quarter. Legal & General Group Plc now owns 6,853 shares of the company’s stock worth $188,000 after purchasing an additional 572 shares during the last quarter. Squarepoint Ops LLC raised its stake in Cactus by 4.0% during the 4th quarter. Squarepoint Ops LLC now owns 27,029 shares of the company’s stock valued at $741,000 after acquiring an additional 1,029 shares in the last quarter. Globeflex Capital L P raised its stake in Cactus by 2.0% during the 4th quarter. Globeflex Capital L P now owns 73,881 shares of the company’s stock valued at $2,025,000 after acquiring an additional 1,446 shares in the last quarter. Finally, Sawgrass Asset Management LLC raised its stake in Cactus by 21.5% during the 4th quarter. Sawgrass Asset Management LLC now owns 9,125 shares of the company’s stock valued at $250,000 after acquiring an additional 1,615 shares in the last quarter. Hedge funds and other institutional investors own 51.87% of the company’s stock.

WHD has been the topic of a number of recent research reports. Royal Bank of Canada lifted their target price on Cactus from $33.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday, March 8th. Citigroup reduced their price objective on Cactus from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, January 4th. Stephens started coverage on Cactus in a research report on Wednesday, January 9th. They set an “overweight” rating and a $45.00 price objective for the company. Zacks Investment Research upgraded shares of Cactus from a “strong sell” rating to a “hold” rating in a research note on Friday, February 15th. Finally, Raymond James raised their target price on Cactus from $39.00 to $44.00 and gave the company a “strong-buy” rating in a report on Friday, March 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $40.91.

NYSE:WHD traded up $0.08 during mid-day trading on Monday, hitting $37.46. The company had a trading volume of 4,231 shares, compared to its average volume of 924,985. Cactus Inc has a fifty-two week low of $24.60 and a fifty-two week high of $40.97. The company has a current ratio of 3.68, a quick ratio of 2.34 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 21.07 and a beta of 1.22.

Cactus (NYSE:WHD) last released its earnings results on Wednesday, March 6th. The company reported $0.45 earnings per share for the quarter, meeting the consensus estimate of $0.45. Cactus had a return on equity of 37.69% and a net margin of 9.50%. The firm had revenue of $139.82 million for the quarter, compared to analyst estimates of $146.27 million. Sell-side analysts predict that Cactus Inc will post 1.95 earnings per share for the current year.

In other news, Director Alan Semple sold 9,130 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $35.93, for a total transaction of $328,040.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Joel Bender sold 1,935,639 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $35.93, for a total value of $69,547,509.27. The disclosure for this sale can be found here. Insiders sold 2,173,649 shares of company stock worth $78,099,209 in the last three months. Insiders own 96.10% of the company’s stock.

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Cactus Profile

Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment. The company's principal products include Cactus SafeDrill wellhead systems, frac stacks, zipper manifolds, and production trees. It also provides field services, such as 24-hour service crews to assist with the installation, maintenance, and safe handling of the wellhead and pressure control equipment, as well as repair services for equipment that it sells or rents.

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Institutional Ownership by Quarter for Cactus (NYSE:WHD)

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