T. Rowe Price Investment Management Inc. Sells 119,569 Shares of Cactus, Inc. (NYSE:WHD)

T. Rowe Price Investment Management Inc. cut its stake in shares of Cactus, Inc. (NYSE:WHD) by 4.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,752,339 shares of the company’s stock after selling 119,569 shares during the quarter. T. Rowe Price Investment Management Inc.’s holdings in Cactus were worth $160,627,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Cactus by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 7,680,731 shares of the company’s stock valued at $448,247,000 after acquiring an additional 147,395 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Cactus by 1.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,102,984 shares of the company’s stock valued at $185,155,000 after purchasing an additional 52,085 shares in the last quarter. Geode Capital Management LLC grew its stake in Cactus by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 1,804,107 shares of the company’s stock worth $105,308,000 after purchasing an additional 45,821 shares during the period. Boston Trust Walden Corp increased its holdings in Cactus by 0.6% in the fourth quarter. Boston Trust Walden Corp now owns 1,797,489 shares of the company’s stock worth $104,901,000 after purchasing an additional 9,884 shares in the last quarter. Finally, Capital International Investors lifted its stake in Cactus by 14.8% in the fourth quarter. Capital International Investors now owns 1,686,858 shares of the company’s stock valued at $98,445,000 after buying an additional 218,004 shares during the period. Institutional investors own 85.11% of the company’s stock.

Analyst Ratings Changes

WHD has been the subject of several recent analyst reports. Barclays reduced their price objective on shares of Cactus from $61.00 to $54.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. Stifel Nicolaus reduced their price target on shares of Cactus from $64.00 to $61.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $53.80.

Cactus Price Performance

Shares of NYSE:WHD opened at $38.76 on Friday. Cactus, Inc. has a twelve month low of $33.80 and a twelve month high of $70.01. The stock’s 50 day moving average is $45.19 and its 200-day moving average is $56.27. The company has a quick ratio of 2.67, a current ratio of 3.82 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 5.13 and a beta of 1.74.

Cactus (NYSE:WHD) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.01). The business had revenue of $272.12 million for the quarter, compared to analyst estimates of $277.59 million. Cactus had a return on equity of 20.24% and a net margin of 16.57%. Sell-side analysts forecast 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.