Legato Capital Management LLC Has $1.94 Million Holdings in Cactus, Inc. $WHD

Legato Capital Management LLC lessened its position in Cactus, Inc. (NYSE:WHD) by 25.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,145 shares of the company’s stock after selling 16,447 shares during the quarter. Legato Capital Management LLC owned about 0.06% of Cactus worth $1,940,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of WHD. Balyasny Asset Management L.P. acquired a new stake in shares of Cactus in the second quarter valued at about $30,648,000. Ameriprise Financial Inc. boosted its stake in Cactus by 130.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 694,149 shares of the company’s stock valued at $30,340,000 after purchasing an additional 393,260 shares during the period. Paradice Investment Management LLC grew its holdings in Cactus by 111.6% in the 3rd quarter. Paradice Investment Management LLC now owns 582,218 shares of the company’s stock valued at $22,980,000 after buying an additional 307,124 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Cactus by 21,301.9% in the 3rd quarter. Pacer Advisors Inc. now owns 262,601 shares of the company’s stock valued at $10,365,000 after buying an additional 261,374 shares during the last quarter. Finally, Royce & Associates LP increased its position in Cactus by 80.9% in the 3rd quarter. Royce & Associates LP now owns 369,576 shares of the company’s stock worth $14,587,000 after buying an additional 165,240 shares during the period. 85.11% of the stock is currently owned by institutional investors.

Cactus Price Performance

NYSE:WHD opened at $52.99 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.13 and a current ratio of 5.81. The company has a 50-day moving average of $53.43 and a 200-day moving average of $45.48. Cactus, Inc. has a 52 week low of $33.20 and a 52 week high of $59.25. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 5.53 and a beta of 1.25.

Cactus (NYSE:WHD) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.07. The firm had revenue of $261.20 million during the quarter, compared to analyst estimates of $250.60 million. Cactus had a net margin of 15.39% and a return on equity of 15.18%. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.71 earnings per share. As a group, equities research analysts anticipate that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Monday, March 2nd will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, March 2nd. Cactus’s dividend payout ratio (DPR) is 23.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Piper Sandler started coverage on Cactus in a research report on Tuesday, February 24th. They issued an “overweight” rating and a $73.00 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Cactus in a research note on Monday, December 29th. Barclays increased their price target on shares of Cactus from $56.00 to $62.00 and gave the company an “overweight” rating in a report on Monday. Citigroup upgraded shares of Cactus from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $45.00 to $55.00 in a report on Thursday, December 11th. Finally, Zacks Research cut shares of Cactus from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $55.00.

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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.