Cactus Inc (NYSE:WHD) Shares Sold by American International Group Inc.

American International Group Inc. reduced its position in Cactus Inc (NYSE:WHD) by 3.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,231 shares of the company’s stock after selling 786 shares during the period. American International Group Inc.’s holdings in Cactus were worth $863,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Public Employees Retirement Association of Colorado boosted its stake in Cactus by 126.1% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 702,000 shares of the company’s stock valued at $19,242,000 after buying an additional 391,500 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Cactus in the 4th quarter worth approximately $7,311,000. Eagle Asset Management Inc. acquired a new stake in shares of Cactus in the 1st quarter worth approximately $6,463,000. Brown Advisory Inc. lifted its stake in shares of Cactus by 27.3% in the 4th quarter. Brown Advisory Inc. now owns 829,557 shares of the company’s stock worth $22,739,000 after acquiring an additional 177,814 shares during the period. Finally, FMR LLC lifted its stake in shares of Cactus by 8.3% in the 4th quarter. FMR LLC now owns 2,072,007 shares of the company’s stock worth $56,794,000 after acquiring an additional 157,952 shares during the period. Institutional investors own 61.80% of the company’s stock.

Shares of NYSE:WHD traded down $0.39 on Monday, reaching $32.73. The company had a trading volume of 783,422 shares, compared to its average volume of 534,575. Cactus Inc has a 52-week low of $24.60 and a 52-week high of $40.97. The business has a 50 day moving average of $32.94. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 1.20 and a beta of 1.11. The company has a quick ratio of 2.46, a current ratio of 3.75 and a debt-to-equity ratio of 0.06.

Cactus (NYSE:WHD) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.02. The business had revenue of $158.88 million for the quarter, compared to the consensus estimate of $153.04 million. Cactus had a return on equity of 35.71% and a net margin of 12.71%. As a group, equities analysts expect that Cactus Inc will post 1.99 EPS for the current year.

A number of equities analysts have commented on WHD shares. Barclays reaffirmed a “buy” rating and set a $41.00 price objective on shares of Cactus in a research report on Monday, May 6th. Bank of America reaffirmed a “buy” rating and issued a $39.00 price objective (down from $50.00) on shares of Cactus in a research note on Tuesday, June 25th. Citigroup increased their price target on Cactus from $41.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, March 12th. Raymond James set a $45.00 price target on Cactus and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, Royal Bank of Canada set a $43.00 price target on Cactus and gave the stock a “buy” rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $41.45.

About Cactus

Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment. The company's principal products include Cactus SafeDrill wellhead systems, frac stacks, zipper manifolds, and production trees. It also provides field services, such as 24-hour service crews to assist with the installation, maintenance, and safe handling of the wellhead and pressure control equipment, as well as repair services for equipment that it sells or rents.

See Also: Percentage Gainers

Institutional Ownership by Quarter for Cactus (NYSE:WHD)

Receive News & Ratings for Cactus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cactus and related companies with MarketBeat.com's FREE daily email newsletter.