Clearbridge Investments LLC Acquires 264,014 Shares of Cactus Inc (NYSE:WHD)

Clearbridge Investments LLC lifted its position in Cactus Inc (NYSE:WHD) by 68.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 648,663 shares of the company’s stock after buying an additional 264,014 shares during the period. Clearbridge Investments LLC owned about 0.86% of Cactus worth $23,092,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WHD. Marshall Wace North America L.P. increased its holdings in shares of Cactus by 624.9% during the first quarter. Marshall Wace North America L.P. now owns 514,024 shares of the company’s stock worth $18,299,000 after purchasing an additional 443,119 shares during the period. Marshall Wace LLP increased its holdings in shares of Cactus by 72.1% during the first quarter. Marshall Wace LLP now owns 641,657 shares of the company’s stock worth $22,843,000 after purchasing an additional 268,918 shares during the period. Hancock Whitney Corp bought a new position in shares of Cactus during the first quarter worth approximately $4,895,000. Amundi Pioneer Asset Management Inc. increased its holdings in shares of Cactus by 25.9% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 756,097 shares of the company’s stock worth $26,917,000 after purchasing an additional 155,418 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Cactus during the first quarter worth approximately $322,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

WHD has been the topic of several recent research reports. Zacks Investment Research cut shares of Zai Lab from a “buy” rating to a “hold” rating in a report on Saturday, June 15th. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Royal Bank of Canada set a $60.00 price objective on shares of Masonite International and gave the company a “buy” rating in a research note on Friday, May 3rd. Bank of America reissued an “underperform” rating and issued a $1.25 price objective (down from $4.50) on shares of Superior Energy Services in a research note on Tuesday, June 25th. Finally, Piper Jaffray Companies decreased their price objective on shares of Cactus from $42.00 to $34.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company’s stock. Cactus currently has an average rating of “Buy” and a consensus target price of $41.45.

Cactus stock traded up $0.28 during mid-day trading on Friday, reaching $31.75. The company had a trading volume of 347,532 shares, compared to its average volume of 586,499. Cactus Inc has a fifty-two week low of $24.60 and a fifty-two week high of $40.97. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.46 and a current ratio of 3.75. The firm has a market cap of $2.38 billion, a P/E ratio of 17.84, a P/E/G ratio of 1.18 and a beta of 1.10. The company has a fifty day moving average of $32.00.

Cactus (NYSE:WHD) last issued its earnings results on Wednesday, May 1st. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. The firm had revenue of $158.88 million for the quarter, compared to analyst estimates of $153.04 million. Cactus had a net margin of 12.71% and a return on equity of 35.71%. Sell-side analysts predict that Cactus Inc will post 1.99 earnings per share for the current fiscal year.

Cactus Company Profile

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.

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Institutional Ownership by Quarter for Cactus (NYSE:WHD)

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