Raymond James & Associates Decreases Holdings in Cactus, Inc. (NYSE:WHD)

Raymond James & Associates decreased its holdings in Cactus, Inc. (NYSE:WHD - Free Report) by 23.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,572 shares of the company's stock after selling 33,554 shares during the period. Raymond James & Associates owned about 0.14% of Cactus worth $6,717,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of Cactus by 33.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,345 shares of the company's stock worth $71,000 after purchasing an additional 340 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Cactus in the 1st quarter valued at about $115,000. Covestor Ltd raised its position in shares of Cactus by 251.8% during the 1st quarter. Covestor Ltd now owns 2,508 shares of the company's stock worth $126,000 after acquiring an additional 1,795 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Cactus during the 1st quarter worth about $182,000. Finally, Cim LLC acquired a new position in Cactus in the second quarter valued at approximately $219,000. Hedge funds and other institutional investors own 85.11% of the company's stock.

Cactus Stock Performance

WHD stock traded up $2.04 during trading on Thursday, hitting $59.30. The company had a trading volume of 1,066,352 shares, compared to its average volume of 736,133. The firm has a 50-day moving average price of $59.73 and a 200-day moving average price of $55.73. The company has a quick ratio of 2.59, a current ratio of 3.75 and a debt-to-equity ratio of 0.01. The firm has a market cap of $4.72 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 2.79 and a beta of 1.95. Cactus, Inc. has a 1-year low of $37.58 and a 1-year high of $64.96.

Cactus (NYSE:WHD - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. Cactus had a return on equity of 21.22% and a net margin of 16.88%. The business had revenue of $293.18 million during the quarter, compared to analysts' expectations of $287.47 million. During the same quarter in the prior year, the business earned $0.80 earnings per share. The company's quarterly revenue was up 1.8% compared to the same quarter last year. On average, analysts expect that Cactus, Inc. will post 3.04 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.