Wells Fargo & Company MN Buys 7,845 Shares of Cactus, Inc. (NYSE:WHD)

Wells Fargo & Company MN lifted its position in Cactus, Inc. (NYSE:WHD - Free Report) by 29.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,105 shares of the company's stock after acquiring an additional 7,845 shares during the period. Wells Fargo & Company MN's holdings in Cactus were worth $1,990,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WHD. Smartleaf Asset Management LLC lifted its position in shares of Cactus by 74.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 522 shares of the company's stock worth $30,000 after purchasing an additional 223 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Cactus by 165.4% during the 4th quarter. Versant Capital Management Inc now owns 576 shares of the company's stock valued at $34,000 after buying an additional 359 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of Cactus by 66.9% during the 4th quarter. Jones Financial Companies Lllp now owns 841 shares of the company's stock valued at $49,000 after acquiring an additional 337 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Cactus in the fourth quarter worth $76,000. Finally, AlphaQuest LLC raised its holdings in shares of Cactus by 202.5% during the fourth quarter. AlphaQuest LLC now owns 1,706 shares of the company's stock worth $100,000 after acquiring an additional 1,142 shares in the last quarter. Institutional investors and hedge funds own 85.11% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on WHD. Barclays dropped their target price on Cactus from $61.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 5th. Stifel Nicolaus dropped their price objective on Cactus from $64.00 to $61.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Cactus has a consensus rating of "Hold" and an average target price of $53.80.

Cactus Stock Performance

Shares of WHD stock traded up $1.71 during trading hours on Thursday, reaching $39.65. 244,498 shares of the company's stock were exchanged, compared to its average volume of 781,559. The business has a fifty day moving average price of $43.50 and a 200-day moving average price of $55.61. The stock has a market capitalization of $3.16 billion, a P/E ratio of 14.10, a P/E/G ratio of 5.13 and a beta of 1.74. The company has a quick ratio of 2.67, a current ratio of 3.82 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a fifty-two week low of $33.80 and a fifty-two week high of $70.01.

Cactus (NYSE:WHD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.03. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The firm had revenue of $280.32 million for the quarter, compared to the consensus estimate of $272.22 million. During the same quarter in the previous year, the company earned $0.75 earnings per share. The business's revenue was up 2.3% compared to the same quarter last year. Analysts predict that Cactus, Inc. will post 3.08 EPS for the current fiscal 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.