Strs Ohio Cuts Stake in Cactus, Inc. $WHD

Strs Ohio cut its stake in shares of Cactus, Inc. (NYSE:WHD) by 20.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,600 shares of the company’s stock after selling 14,400 shares during the quarter. Strs Ohio owned about 0.07% of Cactus worth $2,155,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vest Financial LLC lifted its stake in shares of Cactus by 35.3% in the third quarter. Vest Financial LLC now owns 107,899 shares of the company’s stock worth $4,259,000 after buying an additional 28,139 shares in the last quarter. Hudson Edge Investment Partners Inc. raised its holdings in Cactus by 249.2% in the 3rd quarter. Hudson Edge Investment Partners Inc. now owns 28,388 shares of the company’s stock worth $1,120,000 after acquiring an additional 20,258 shares during the last quarter. VELA Investment Management LLC lifted its position in Cactus by 79.6% in the 2nd quarter. VELA Investment Management LLC now owns 115,440 shares of the company’s stock valued at $5,047,000 after acquiring an additional 51,158 shares in the last quarter. AGF Management Ltd. purchased a new stake in Cactus during the 2nd quarter valued at $672,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Cactus in the 3rd quarter worth $1,872,000. Institutional investors own 85.11% of the company’s stock.

Cactus Price Performance

NYSE WHD opened at $56.38 on Wednesday. The company has a 50-day moving average price of $47.40 and a 200-day moving average price of $43.11. Cactus, Inc. has a 52 week low of $33.20 and a 52 week high of $62.60. The company has a quick ratio of 3.74, a current ratio of 5.28 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $4.50 billion, a P/E ratio of 22.46, a PEG ratio of 5.56 and a beta of 1.26.

Cactus (NYSE:WHD) last announced its earnings results on Wednesday, October 29th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.09. Cactus had a net margin of 15.86% and a return on equity of 16.02%. The company had revenue of $263.95 million during the quarter, compared to analyst estimates of $253.89 million. During the same period in the previous year, the business posted $0.74 earnings per share. The firm’s quarterly revenue was down 10.0% compared to the same quarter last year. Equities research analysts anticipate that Cactus, Inc. will post 3.08 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WHD. Bank of America raised Cactus from an “underperform” rating to a “neutral” rating and upped their price target for the company from $39.00 to $40.00 in a report on Wednesday, October 29th. Weiss Ratings restated a “hold (c)” rating on shares of Cactus in a research note on Monday, December 29th. Citigroup upgraded shares of Cactus from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $45.00 to $55.00 in a research note on Thursday, December 11th. Stifel Nicolaus boosted their price objective on shares of Cactus from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Barclays raised their target price on shares of Cactus from $51.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Cactus has a consensus rating of “Moderate Buy” and a consensus target price of $50.20.

Cactus Company 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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.