Bridge City Capital LLC Lowers Holdings in Cactus, Inc. $WHD

Bridge City Capital LLC cut its holdings in Cactus, Inc. (NYSE:WHD) by 13.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,334 shares of the company’s stock after selling 10,926 shares during the period. Bridge City Capital LLC’s holdings in Cactus were worth $3,121,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its holdings in Cactus by 52.8% in the 3rd quarter. Wellington Management Group LLP now owns 3,304,595 shares of the company’s stock worth $130,432,000 after purchasing an additional 1,141,249 shares in the last quarter. State Street Corp lifted its holdings in Cactus by 3.0% in the 4th quarter. State Street Corp now owns 2,844,994 shares of the company’s stock worth $129,959,000 after purchasing an additional 83,190 shares in the last quarter. Capital International Investors lifted its holdings in Cactus by 27.0% in the 4th quarter. Capital International Investors now owns 2,343,731 shares of the company’s stock worth $107,062,000 after purchasing an additional 498,210 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Cactus by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 1,964,059 shares of the company’s stock worth $89,729,000 after purchasing an additional 28,415 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in Cactus by 17.4% in the 4th quarter. First Trust Advisors LP now owns 1,839,336 shares of the company’s stock worth $84,021,000 after purchasing an additional 272,452 shares in the last quarter. 85.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on WHD shares. Stifel Nicolaus boosted their price target on Cactus from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Piper Sandler upped their price objective on Cactus from $69.00 to $72.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Weiss Ratings raised Cactus from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday. Wall Street Zen cut Cactus from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Finally, Barclays upped their price objective on Cactus from $62.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Cactus currently has an average rating of “Moderate Buy” and a consensus price target of $62.60.

Cactus Stock Performance

NYSE WHD opened at $59.01 on Friday. The company has a market cap of $4.73 billion, a P/E ratio of 55.67, a P/E/G ratio of 2.34 and a beta of 1.37. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.71 and a current ratio of 2.61. The business’s 50 day moving average price is $56.39 and its 200-day moving average price is $52.32. Cactus, Inc. has a fifty-two week low of $33.20 and a fifty-two week high of $64.30.

Cactus (NYSE:WHD) last released its earnings results on Thursday, May 7th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. The firm had revenue of $388.35 million for the quarter, compared to the consensus estimate of $380.42 million. Cactus had a return on equity of 15.43% and a net margin of 6.17%.The company’s revenue for the quarter was up 38.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 EPS. Sell-side analysts predict that Cactus, Inc. will post 2.85 earnings per share for the current year.

Cactus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Monday, June 1st will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Monday, June 1st. Cactus’s dividend payout ratio is 52.83%.

Insider Buying and Selling at Cactus

In other Cactus news, Director Alan Semple sold 10,206 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $56.62, for a total value of $577,863.72. Following the transaction, the director owned 29,444 shares of the company’s stock, valued at $1,667,119.28. This represents a 25.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael Y. Mcgovern sold 12,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $56.57, for a total value of $678,840.00. Following the completion of the transaction, the director directly owned 15,990 shares in the company, valued at $904,554.30. This trade represents a 42.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 12.91% of the company’s stock.

About Cactus

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.