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

Raymond James & Associates reduced its position in Cactus, Inc. (NYSE:WHD) by 23.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 112,572 shares of the company’s stock after selling 33,554 shares during the period. Raymond James & Associates’ holdings in Cactus were worth $6,717,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. AlphaMark Advisors LLC acquired a new position in shares of Cactus in the third quarter worth about $316,000. Creative Planning raised its position in shares of Cactus by 27.5% in the 3rd quarter. Creative Planning now owns 11,292 shares of the company’s stock valued at $674,000 after purchasing an additional 2,433 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Cactus in the 3rd quarter valued at approximately $775,000. Barlow Wealth Partners Inc. boosted its stake in shares of Cactus by 1.6% during the 3rd quarter. Barlow Wealth Partners Inc. now owns 258,467 shares of the company’s stock valued at $16,604,000 after buying an additional 3,960 shares during the last quarter. Finally, City Center Advisors LLC acquired a new stake in shares of Cactus during the third quarter worth approximately $396,000. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Cactus Price Performance

Shares of NYSE:WHD opened at $57.29 on Thursday. The company has a market cap of $4.56 billion, a PE ratio of 22.82, a P/E/G ratio of 2.79 and a beta of 1.95. Cactus, Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $64.96. The firm has a 50-day simple moving average of $59.74 and a 200 day simple moving average of $55.72. The company has a quick ratio of 2.59, a current ratio of 3.75 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last posted its earnings results on Wednesday, October 30th. The company reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. The company had revenue of $293.18 million during the quarter, compared to analyst estimates of $287.47 million. Cactus had a return on equity of 21.22% and a net margin of 16.88%. The business’s revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 earnings per share. On average, sell-side analysts anticipate that Cactus, Inc. will post 3.04 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on WHD shares. Stifel Nicolaus cut their price target on shares of Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Piper Sandler cut their target price on shares of Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Bank of America lifted their price target on Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a research note on Monday, October 14th. Barclays upped their price objective on Cactus from $56.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Finally, Citigroup increased their target price on Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $56.40.

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.