Bank of America Corp DE Boosts Holdings in Cactus Inc (WHD)

Bank of America Corp DE raised its position in Cactus Inc (NYSE:WHD) by 1,464.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 132,148 shares of the company’s stock after purchasing an additional 123,699 shares during the period. Bank of America Corp DE owned about 0.18% of Cactus worth $4,466,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Legal & General Group Plc acquired a new stake in Cactus in the first quarter valued at $111,000. Royal Bank of Canada acquired a new stake in Cactus in the first quarter valued at $115,000. BNP Paribas Arbitrage SA acquired a new stake in Cactus in the first quarter valued at $127,000. Raymond James & Associates acquired a new stake in Cactus in the second quarter valued at $212,000. Finally, State of Wisconsin Investment Board acquired a new stake in Cactus in the second quarter valued at $237,000. 38.59% of the stock is currently owned by institutional investors.

WHD opened at $32.44 on Tuesday. 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 $2.52 billion and a P/E ratio of 0.03. Cactus Inc has a 52 week low of $19.18 and a 52 week high of $40.97.



Cactus (NYSE:WHD) last posted its quarterly earnings data on Thursday, August 2nd. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. The company had revenue of $138.54 million for the quarter, compared to analyst estimates of $137.29 million. The firm’s quarterly revenue was up 69.2% compared to the same quarter last year. Equities analysts predict that Cactus Inc will post 1.77 earnings per share for the current fiscal year.

Several research firms have weighed in on WHD. Zacks Investment Research raised Cactus from a “hold” rating to a “strong-buy” rating and set a $44.00 target price on the stock in a report on Thursday, October 4th. ValuEngine lowered Cactus from a “hold” rating to a “sell” rating in a report on Monday, October 22nd. Morgan Stanley began coverage on Cactus in a report on Tuesday, September 18th. They issued an “overweight” rating and a $42.00 target price on the stock. Citigroup upped their target price on Cactus from $38.00 to $41.00 and gave the company a “buy” rating in a report on Friday, September 14th. Finally, Johnson Rice raised Cactus from an “accumulate” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Thursday, August 30th. One equities research analyst has rated the stock with a sell rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Cactus currently has an average rating of “Buy” and an average target price of $38.70.

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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