Raymond James Financial Inc. Has $12.24 Million Stake in Cactus, Inc. $WHD

Key Points

• Raymond James Financial Inc. sold 13,499 shares of Cactus, Inc. during the 1st quarter, reducing its holdings by 4.8%, and now owns approximately 0.34% of the company's stock valued at $12.2 million.
• Cactus recently declared a quarterly dividend of $0.14 per share, an increase from the previous $0.13, set to be paid on September 18th.
• Wall Street analysts have mixed ratings for Cactus, with an average rating of "Hold" and a consensus price target of $50.75, reflecting varied expectations for the company's stock performance.

Raymond James Financial Inc. lessened its holdings in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 4.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 267,124 shares of the company's stock after selling 13,499 shares during the quarter. Raymond James Financial Inc. owned 0.34% of Cactus worth $12,243,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Northern Trust Corp raised its stake in Cactus by 10.4% during the 4th quarter. Northern Trust Corp now owns 724,891 shares of the company's stock worth $42,305,000 after buying an additional 68,473 shares during the period. Pacer Advisors Inc. raised its stake in Cactus by 10,002.6% during the 1st quarter. Pacer Advisors Inc. now owns 458,053 shares of the company's stock worth $20,993,000 after buying an additional 453,519 shares during the period. Fort Washington Investment Advisors Inc. OH raised its stake in Cactus by 8.2% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 393,801 shares of the company's stock worth $18,048,000 after buying an additional 29,850 shares during the period. Principal Financial Group Inc. raised its stake in Cactus by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 365,477 shares of the company's stock worth $16,750,000 after buying an additional 8,164 shares during the period. Finally, Bessemer Group Inc. raised its stake in Cactus by 4.0% during the 1st quarter. Bessemer Group Inc. now owns 323,075 shares of the company's stock worth $14,807,000 after buying an additional 12,364 shares during the period. Institutional investors and hedge funds own 85.11% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Stifel Nicolaus dropped their price objective on Cactus from $57.00 to $53.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. JPMorgan Chase & Co. dropped their price target on Cactus from $52.00 to $50.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Barclays reissued an "overweight" rating and issued a $52.00 price target (down previously from $53.00) on shares of Cactus in a research note on Monday, August 4th. Finally, Wall Street Zen raised Cactus from a "sell" rating to a "hold" rating in a research report on Saturday. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $50.75.

Cactus Price Performance

WHD traded up $0.05 during trading on Monday, hitting $41.95. 563,273 shares of the stock traded hands, compared to its average volume of 665,251. Cactus, Inc. has a twelve month low of $33.80 and a twelve month high of $70.01. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 3.95 and a beta of 1.53. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.85 and a quick ratio of 3.48. The business has a 50 day moving average price of $42.84 and a 200 day moving average price of $43.79.

Cactus (NYSE:WHD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). The company had revenue of $273.58 million for the quarter, compared to analyst estimates of $280.28 million. Cactus had a return on equity of 17.34% and a net margin of 16.19%.The firm's quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter last year, the company posted $0.81 earnings per share. Equities research analysts forecast that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, August 29th will be issued a $0.14 dividend. The ex-dividend date is Friday, August 29th. This is a positive change from Cactus's previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a yield of 1.3%. Cactus's dividend payout ratio (DPR) is currently 21.13%.

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.