Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in Cactus, Inc. (NYSE:WHD)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Cactus, Inc. (NYSE:WHD) by 26.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,422 shares of the company’s stock after buying an additional 3,405 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cactus were worth $746,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. NBC Securities Inc. purchased a new position in shares of Cactus in the 3rd quarter worth about $36,000. Signaturefd LLC raised its holdings in Cactus by 164.5% in the third quarter. Signaturefd LLC now owns 857 shares of the company’s stock worth $43,000 after buying an additional 533 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Cactus in the third quarter worth approximately $70,000. Headlands Technologies LLC purchased a new stake in shares of Cactus during the third quarter valued at approximately $134,000. Finally, Park Avenue Securities LLC purchased a new stake in shares of Cactus during the third quarter valued at approximately $208,000. 85.11% of the stock is owned by institutional investors.

Cactus Stock Performance

WHD stock opened at $52.51 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.17 and a quick ratio of 2.00. Cactus, Inc. has a 1 year low of $31.36 and a 1 year high of $57.00. The company has a market cap of $4.17 billion, a P/E ratio of 20.59, a price-to-earnings-growth ratio of 9.32 and a beta of 1.96. The stock’s fifty day moving average price is $48.71 and its 200-day moving average price is $45.54.

Cactus (NYSE:WHD) last posted its earnings results on Thursday, February 29th. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.13. Cactus had a return on equity of 22.69% and a net margin of 15.42%. The company had revenue of $274.87 million for the quarter, compared to the consensus estimate of $268.56 million. During the same quarter in the prior year, the company earned $0.57 earnings per share. Cactus’s revenue was up 46.4% on a year-over-year basis. On average, equities analysts forecast that Cactus, Inc. will post 2.87 earnings per share for the current year.

Insider Buying and Selling

In other Cactus news, EVP William D. Marsh sold 1,700 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $46.20, for a total transaction of $78,540.00. Following the completion of the sale, the executive vice president now directly owns 3,911 shares of the company’s stock, valued at $180,688.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Scott Bender sold 78,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $45.79, for a total value of $3,571,620.00. Following the transaction, the chief executive officer now owns 20 shares of the company’s stock, valued at $915.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William D. Marsh sold 1,700 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $46.20, for a total value of $78,540.00. Following the transaction, the executive vice president now owns 3,911 shares of the company’s stock, valued at $180,688.20. The disclosure for this sale can be found here. 17.71% of the stock is currently owned by insiders.

Analysts Set New Price Targets

WHD has been the topic of several analyst reports. Bank of America upped their price objective on Cactus from $40.00 to $43.00 and gave the company an “underperform” rating in a research report on Monday, April 15th. Benchmark downgraded Cactus from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Finally, Stifel Nicolaus reduced their price objective on Cactus from $68.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $55.29.

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.