Northern Trust Corp boosted its position in Cactus Inc (NYSE:WHD) by 39.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 332,864 shares of the company’s stock after purchasing an additional 93,903 shares during the period. Northern Trust Corp owned about 0.44% of Cactus worth $11,248,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. acquired a new position in Cactus during the first quarter worth $1,205,000. The Manufacturers Life Insurance Company acquired a new position in Cactus during the first quarter worth $454,000. Jane Street Group LLC acquired a new position in Cactus during the first quarter worth $279,000. California State Teachers Retirement System acquired a new position in Cactus during the first quarter worth $953,000. Finally, Legal & General Group Plc acquired a new position in Cactus during the first quarter worth $111,000. 38.99% of the stock is owned by hedge funds and other institutional investors.
WHD has been the topic of several research reports. Citigroup set a $42.00 price objective on shares of Cactus and gave the stock a “buy” rating in a report on Friday, November 2nd. Johnson Rice upgraded shares of Cactus from an “accumulate” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Thursday, August 30th. Piper Jaffray Companies set a $37.00 price objective on shares of Cactus and gave the stock a “buy” rating in a report on Thursday, August 9th. Barclays set a $39.00 price objective on shares of Cactus and gave the stock a “buy” rating in a report on Sunday, August 5th. Finally, Royal Bank of Canada upped their price objective on shares of Cactus to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, July 31st. One equities research analyst has rated the stock with a sell rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Cactus has an average rating of “Buy” and a consensus price target of $38.80.
Shares of WHD stock opened at $36.16 on Friday. The stock has a market capitalization of $2.79 billion and a PE ratio of 0.03. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.52 and a quick ratio of 1.94. Cactus Inc has a one year low of $19.18 and a one year high of $40.97.
Cactus (NYSE:WHD) last announced its earnings results on Wednesday, October 31st. The company reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.03. The company had revenue of $150.70 million during the quarter, compared to the consensus estimate of $146.35 million. Cactus had a net margin of 11.31% and a return on equity of 51.28%. The company’s quarterly revenue was up 57.0% on a year-over-year basis. On average, equities research analysts anticipate that Cactus Inc will post 1.79 earnings per share 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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