FMR LLC grew its stake in shares of Cactus Inc (NYSE:WHD) by 8.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,072,007 shares of the company’s stock after buying an additional 157,952 shares during the period. FMR LLC owned approximately 2.77% of Cactus worth $56,794,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Millennium Management LLC raised its holdings in shares of Cactus by 1.0% during the 4th quarter. Millennium Management LLC now owns 1,690,127 shares of the company’s stock worth $46,326,000 after buying an additional 16,863 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Cactus by 9.1% during the 4th quarter. Legal & General Group Plc now owns 6,853 shares of the company’s stock worth $188,000 after buying an additional 572 shares in the last quarter. Globeflex Capital L P raised its holdings in shares of Cactus by 2.0% during the 4th quarter. Globeflex Capital L P now owns 73,881 shares of the company’s stock worth $2,025,000 after buying an additional 1,446 shares in the last quarter. Cipher Capital LP raised its holdings in shares of Cactus by 59.0% during the 4th quarter. Cipher Capital LP now owns 24,685 shares of the company’s stock worth $677,000 after buying an additional 9,157 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its holdings in shares of Cactus by 404.3% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 13,479 shares of the company’s stock worth $369,000 after buying an additional 10,806 shares in the last quarter. 52.24% of the stock is currently owned by institutional investors.
A number of brokerages have issued reports on WHD. Royal Bank of Canada set a $43.00 target price on Cactus and gave the stock a “buy” rating in a report on Friday, May 3rd. Raymond James set a $45.00 target price on Cactus and gave the stock a “buy” rating in a report on Friday, May 3rd. Bank of America reaffirmed a “buy” rating and issued a $48.00 target price (up previously from $42.00) on shares of Cactus in a report on Tuesday, April 16th. Barclays reiterated a “buy” rating and issued a $41.00 price target on shares of Cactus in a research report on Monday. Finally, Zacks Investment Research upgraded Cactus from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Friday, March 8th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $42.55.
Shares of Cactus stock traded down $0.08 on Thursday, hitting $36.06. 648,905 shares of the company’s stock traded hands, compared to its average volume of 515,241. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 0.65 and a beta of 1.15. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.68 and a quick ratio of 2.34. Cactus Inc has a one year low of $24.60 and a one year high of $40.97.
Cactus (NYSE:WHD) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.02. The business had revenue of $158.88 million for the quarter, compared to analyst estimates of $153.04 million. Cactus had a return on equity of 38.49% and a net margin of 12.71%. On average, sell-side analysts expect that Cactus Inc will post 2 EPS for the current fiscal year.
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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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