JPMorgan Chase & Co. Grows Holdings in Cactus, Inc. (NYSE:WHD)

JPMorgan Chase & Co. increased its position in shares of Cactus, Inc. (NYSE:WHDGet Rating) by 85.5% during the 2nd quarter, Holdings Channel reports. The firm owned 2,018,604 shares of the company’s stock after purchasing an additional 930,673 shares during the quarter. JPMorgan Chase & Co.’s holdings in Cactus were worth $81,289,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WHD. Park Avenue Securities LLC purchased a new position in Cactus during the first quarter worth about $208,000. Arizona State Retirement System boosted its stake in Cactus by 2.0% in the first quarter. Arizona State Retirement System now owns 15,935 shares of the company’s stock valued at $904,000 after acquiring an additional 314 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Cactus by 18.5% in the first quarter. Envestnet Asset Management Inc. now owns 66,336 shares of the company’s stock valued at $3,764,000 after acquiring an additional 10,371 shares during the last quarter. Stephens Investment Management Group LLC purchased a new position in Cactus in the first quarter valued at about $39,798,000. Finally, Advisor Group Holdings Inc. boosted its stake in Cactus by 75.6% in the first quarter. Advisor Group Holdings Inc. now owns 13,740 shares of the company’s stock valued at $1,109,000 after acquiring an additional 5,917 shares during the last quarter. 83.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on WHD shares. Morgan Stanley boosted their target price on shares of Cactus from $50.00 to $55.00 and gave the company an “equal weight” rating in a research note on Monday, September 26th. Citigroup boosted their price target on shares of Cactus from $47.00 to $58.00 in a research report on Sunday, November 13th. Bank of America boosted their price target on shares of Cactus from $45.00 to $59.00 and gave the company a “neutral” rating in a research report on Tuesday, November 8th. Finally, Barclays lowered shares of Cactus from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $52.00 to $48.00 in a research report on Thursday, October 6th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $56.17.

Cactus Price Performance

WHD stock opened at $53.68 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.74 and a quick ratio of 3.51. Cactus, Inc. has a one year low of $34.70 and a one year high of $64.18. The stock has a market cap of $4.07 billion, a PE ratio of 34.86, a P/E/G ratio of 0.54 and a beta of 1.96. The firm has a 50 day simple moving average of $47.22 and a two-hundred day simple moving average of $44.56.

Cactus (NYSE:WHDGet Rating) last announced its quarterly earnings data on Monday, November 7th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The company had revenue of $184.50 million during the quarter, compared to analysts’ expectations of $183.08 million. Cactus had a net margin of 14.94% and a return on equity of 14.60%. The firm’s revenue was up 59.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 EPS. On average, analysts predict that Cactus, Inc. will post 1.78 EPS for the current fiscal year.

Cactus Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Monday, November 28th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, November 25th. This represents a $0.44 annualized dividend and a dividend yield of 0.82%. Cactus’s payout ratio is 28.57%.

Cactus Profile

(Get Rating)

Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment in the United States, Australia, China, and the Kingdom of Saudi Arabia. The company's principal products include Cactus SafeDrill wellhead systems, Cactus SafeLink monobore, SafeClamp, and SafeInject systems, as well as frac stacks, zipper manifolds, and production trees.

See Also

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Institutional Ownership by Quarter for Cactus (NYSE:WHD)

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