Parallel Advisors LLC Invests $36,000 in Cactus Inc (NYSE:WHD)

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Parallel Advisors LLC acquired a new position in Cactus Inc (NYSE:WHD) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,100 shares of the company’s stock, valued at approximately $36,000.

Several other large investors have also recently made changes to their positions in WHD. Moody Aldrich Partners LLC grew its stake in Cactus by 3.3% during the 2nd quarter. Moody Aldrich Partners LLC now owns 114,805 shares of the company’s stock worth $3,802,000 after purchasing an additional 3,648 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Cactus in the 1st quarter worth approximately $1,383,000. Legal & General Group Plc grew its holdings in shares of Cactus by 9.1% in the 4th quarter. Legal & General Group Plc now owns 6,853 shares of the company’s stock worth $188,000 after acquiring an additional 572 shares during the period. Eagle Asset Management Inc. acquired a new stake in shares of Cactus in the 1st quarter worth approximately $6,463,000. Finally, Teacher Retirement System of Texas grew its holdings in Cactus by 96.1% during the 1st quarter. Teacher Retirement System of Texas now owns 522,916 shares of the company’s stock valued at $18,616,000 after buying an additional 256,202 shares during the last quarter. Hedge funds and other institutional investors own 63.28% of the company’s stock.

NYSE:WHD traded up $0.17 during midday trading on Wednesday, hitting $24.64. 1,470 shares of the stock were exchanged, compared to its average volume of 525,506. Cactus Inc has a one year low of $24.38 and a one year high of $40.97. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 13.91, a P/E/G ratio of 1.08 and a beta of 1.07. The business has a 50-day moving average price of $28.75 and a two-hundred day moving average price of $33.43. The company has a current ratio of 3.92, a quick ratio of 2.74 and a debt-to-equity ratio of 0.05.

Cactus (NYSE:WHD) last announced its earnings results on Wednesday, July 31st. The company reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.01. The firm had revenue of $168.50 million for the quarter, compared to analysts’ expectations of $162.27 million. Cactus had a return on equity of 34.10% and a net margin of 13.56%. The firm’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.46 earnings per share. Sell-side analysts forecast that Cactus Inc will post 1.89 EPS for the current fiscal year.

A number of brokerages have weighed in on WHD. Royal Bank of Canada set a $43.00 price target on Cactus and gave the stock a “buy” rating in a research note on Friday, May 3rd. Raymond James cut their price objective on Cactus from $42.00 to $40.00 and set a “strong-buy” rating on the stock in a research report on Friday, August 2nd. ValuEngine lowered Cactus from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Barclays reissued a “buy” rating and issued a $41.00 price objective on shares of Cactus in a research report on Monday, May 6th. Finally, Zacks Investment Research lowered Cactus from a “strong-buy” rating to a “hold” rating in a research report on Saturday, June 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Cactus has an average rating of “Buy” and an average price target of $41.00.

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.

Read More: Capital Gains

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Institutional Ownership by Quarter for Cactus (NYSE:WHD)

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