Assenagon Asset Management S.A. Sells 3,669 Shares of Cactus, Inc. (NYSE:WHD)

Assenagon Asset Management S.A. cut its holdings in Cactus, Inc. (NYSE:WHD) by 10.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,391 shares of the company’s stock after selling 3,669 shares during the period. Assenagon Asset Management S.A.’s holdings in Cactus were worth $1,933,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in Cactus by 33.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,345 shares of the company’s stock valued at $71,000 after purchasing an additional 340 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Cactus in the 1st quarter valued at about $115,000. Covestor Ltd boosted its position in Cactus by 251.8% in the 1st quarter. Covestor Ltd now owns 2,508 shares of the company’s stock valued at $126,000 after buying an additional 1,795 shares during the period. Central Pacific Bank Trust Division purchased a new stake in Cactus in the 1st quarter valued at about $182,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in Cactus in the 1st quarter valued at about $202,000. 85.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on WHD shares. Citigroup upped their price target on shares of Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Stifel Nicolaus decreased their target price on shares of Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Piper Sandler decreased their target price on shares of Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Barclays increased their target price on shares of Cactus from $56.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, Bank of America upped their price target on shares of Cactus from $44.00 to $48.00 and gave the company an “underperform” rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Cactus presently has a consensus rating of “Hold” and an average price target of $56.40.

Cactus Trading Up 3.6 %

Shares of Cactus stock opened at $59.30 on Friday. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 2.79 and a beta of 1.95. Cactus, Inc. has a 12-month low of $37.58 and a 12-month high of $64.96. The firm’s 50 day simple moving average is $59.73 and its two-hundred day simple moving average is $55.73. The company has a current ratio of 3.75, a quick ratio of 2.59 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.74. Cactus had a net margin of 16.88% and a return on equity of 21.22%. The firm had revenue of $293.18 million for the quarter, compared to analyst estimates of $287.47 million. During the same quarter in the prior year, the business earned $0.80 earnings per share. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. Analysts predict that Cactus, Inc. will post 3.04 EPS for the current year.

Cactus 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.