Cactus, Inc. (NYSE:WHD) Holdings Lifted by Congress Asset Management Co.

Congress Asset Management Co. grew its holdings in shares of Cactus, Inc. (NYSE:WHD) by 17.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 248,119 shares of the company’s stock after buying an additional 37,084 shares during the period. Congress Asset Management Co. owned 0.31% of Cactus worth $14,805,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WHD. GAMMA Investing LLC grew its stake in shares of Cactus by 33.8% in the second quarter. GAMMA Investing LLC now owns 1,345 shares of the company’s stock worth $71,000 after purchasing an additional 340 shares in the last quarter. SG Americas Securities LLC bought a new position in Cactus during the first quarter valued at about $115,000. Covestor Ltd raised its position in Cactus by 251.8% in the first quarter. Covestor Ltd now owns 2,508 shares of the company’s stock worth $126,000 after acquiring an additional 1,795 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in Cactus in the 1st quarter valued at about $182,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Cactus by 10.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company’s stock worth $188,000 after purchasing an additional 307 shares during the last quarter. 85.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Cactus Stock Performance

Shares of WHD opened at $59.30 on Friday. The company has a market capitalization of $4.72 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 2.74 and a beta of 1.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.75 and a quick ratio of 2.59. Cactus, Inc. has a one year low of $37.58 and a one year high of $64.96. The company’s fifty day moving average price is $59.73 and its 200 day moving average price is $55.73.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.74. Cactus had a return on equity of 20.72% and a net margin of 16.57%. The company had revenue of $293.18 million for the quarter, compared to the consensus estimate of $287.47 million. During the same period last year, the business posted $0.80 earnings per share. The firm’s revenue was up 1.8% compared to the same quarter last year. As a group, analysts expect that Cactus, Inc. will post 3.04 earnings per share for the current year.

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.