Raymond James Financial Inc. Makes New Investment in Cactus, Inc. (NYSE:WHD)

Raymond James Financial Inc. acquired a new position in shares of Cactus, Inc. (NYSE:WHD - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 280,623 shares of the company's stock, valued at approximately $16,377,000. Raymond James Financial Inc. owned 0.35% of Cactus as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Atria Investments Inc raised its position in shares of Cactus by 9.4% during the 3rd quarter. Atria Investments Inc now owns 8,166 shares of the company's stock worth $487,000 after purchasing an additional 704 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of Cactus in the third quarter valued at approximately $295,000. CIBC Asset Management Inc acquired a new stake in shares of Cactus in the third quarter worth approximately $212,000. Natixis Advisors LLC increased its position in shares of Cactus by 13.1% during the third quarter. Natixis Advisors LLC now owns 16,623 shares of the company's stock worth $992,000 after purchasing an additional 1,931 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in Cactus in the 3rd quarter valued at $34,000. 85.11% of the stock is owned by hedge funds and other institutional investors.

Cactus Trading Down 0.9 %

Shares of NYSE WHD traded down $0.42 during midday trading on Friday, reaching $45.98. 2,388,309 shares of the stock were exchanged, compared to its average volume of 703,589. The stock has a market capitalization of $3.66 billion, a P/E ratio of 16.31, a PEG ratio of 5.13 and a beta of 2.05. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82. The company has a 50 day simple moving average of $56.45 and a 200 day simple moving average of $59.80. Cactus, Inc. has a twelve month low of $43.27 and a twelve month high of $70.01.

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

Cactus Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 3rd were issued a $0.13 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.52 annualized dividend and a dividend yield of 1.13%. Cactus's dividend payout ratio is currently 18.84%.

Analysts Set New Price Targets

Separately, Barclays dropped their target price on shares of Cactus from $61.00 to $54.00 and set an "equal weight" rating for the company in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Cactus currently has a consensus rating of "Hold" and a consensus price target 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.