Principal Financial Group Expands Position in Cactus, Inc.

2 min read | November 14, 2024 03:26 AM PST | By Team Kalkine Media

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Principal Financial Group Expands Position in Cactus, Inc. — Image source: Shutterstock

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Principal Financial Group Inc. has increased its holdings in Cactus, Inc. by 4.8% in the third quarter.

Large institutional investors have shown growing interest in Cactus, boosting their positions across recent quarters.

Institutional investors now hold a significant share of Cactus, with Principal Financial Group owning 0.43% of the company.

Principal Financial Group Inc. (NASDAQ:PFG) recently expanded its holdings in Cactus, Inc. (NYSE:WHD), increasing its stake by 4.8% in the third quarter as disclosed in a recent filing with the Securities and Exchange Commission. This expansion brings Principal Financial’s stake to 342,278 shares, giving them approximately 0.43% ownership in Cactus, Inc. The rise in holdings highlights the company's strategic commitment to maintaining a position in Cactus as other institutional investors follow suit.

Several other significant financial entities have also shown interest in Cactus. SG Americas Securities LLC recently added a new position in Cactus during the first quarter, marking a notable increase in institutional backing. Sei Investments Co. also raised its stake by 13.2% in the first quarter, reaching 345,228 shares, showcasing its continued confidence in the company. Similarly, Russell Investments Group Ltd. made a significant increase of 330.4% in its holdings during the first quarter, reflecting broader institutional interest.

ProShare Advisors LLC also grew its stake in Cactus by 10.0% in the first quarter, emphasizing the appeal Cactus holds for larger financial entities. Additionally, Entropy Technologies LP joined the list of institutional investors with its acquisition in the first quarter, further underscoring the expanding support among major investors.

Institutional ownership of Cactus now stands at a high percentage, reflecting the company’s favorable standing among major financial firms. This level of interest from established financial institutions suggests a positive perception of Cactus’s potential and ongoing development within the industry.

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