Rhumbline Advisers Buys 4,479 Shares of Cactus Inc (WHD)
Rhumbline Advisers grew its stake in Cactus Inc (NYSE:WHD) by 21.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,690 shares of the company’s stock after purchasing an additional 4,479 shares during the period. Rhumbline Advisers’ holdings in Cactus were worth $868,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in WHD. BlackRock Inc. acquired a new position in Cactus during the first quarter worth $51,410,000. Millennium Management LLC acquired a new position in Cactus during the first quarter worth $34,585,000. Zimmer Partners LP acquired a new position in Cactus during the first quarter worth $27,469,000. Loomis Sayles & Co. L P acquired a new position in Cactus during the first quarter worth $18,405,000. Finally, Arosa Capital Management LP acquired a new position in Cactus during the first quarter worth $17,564,000. 37.99% of the stock is currently owned by institutional investors and hedge funds.
Shares of WHD stock opened at $35.92 on Wednesday. The company has a current ratio of 3.09, a quick ratio of 1.94 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.66 billion and a P/E ratio of 0.03. Cactus Inc has a 1-year low of $19.18 and a 1-year high of $37.50.
A number of research analysts recently weighed in on the company. Morgan Stanley assumed coverage on Cactus in a report on Tuesday. They set a “buy” rating and a $42.00 price objective on the stock. Citigroup upped their price objective on Cactus from $38.00 to $41.00 and gave the stock a “buy” rating in a report on Friday, September 14th. Johnson Rice assumed coverage on Cactus in a report on Thursday, May 24th. They set an “accumulate” rating and a $40.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on Cactus from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Piper Jaffray Companies set a $37.00 price objective on Cactus and gave the stock a “buy” rating in a report on Thursday, August 9th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Cactus has an average rating of “Buy” and an average price target of $38.11.
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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