Wasatch Advisors LP Has $63.92 Million Stock Holdings in Cactus, Inc. $WHD

Wasatch Advisors LP lifted its position in shares of Cactus, Inc. (NYSE:WHD) by 79.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,349,420 shares of the company’s stock after buying an additional 595,562 shares during the quarter. Wasatch Advisors LP’s holdings in Cactus were worth $63,922,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP raised its holdings in Cactus by 20.0% in the 4th quarter. Wellington Management Group LLP now owns 3,963,961 shares of the company’s stock valued at $181,074,000 after buying an additional 659,366 shares during the last quarter. State Street Corp raised its stake in shares of Cactus by 3.0% during the fourth quarter. State Street Corp now owns 2,844,994 shares of the company’s stock valued at $129,959,000 after acquiring an additional 83,190 shares during the last quarter. Capital International Investors lifted its holdings in shares of Cactus by 27.0% during the fourth 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 during the period. Geode Capital Management LLC grew its stake in shares of Cactus by 1.5% in the fourth 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 during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Cactus by 17.4% in the fourth 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 during the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

Cactus Trading Down 2.9%

WHD opened at $51.98 on Friday. Cactus, Inc. has a twelve month low of $33.20 and a twelve month high of $64.30. The company has a fifty day moving average of $56.94 and a 200-day moving average of $53.08. The stock has a market cap of $4.17 billion, a PE ratio of 49.04, a price-to-earnings-growth ratio of 2.10 and a beta of 1.37. The company has a quick ratio of 1.71, a current ratio of 2.61 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last released its earnings results on Thursday, May 7th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. Cactus had a net margin of 6.17% and a return on equity of 15.43%. The business had revenue of $388.35 million for the quarter, compared to analyst estimates of $380.42 million. During the same quarter in the previous year, the business earned $0.73 earnings per share. Cactus’s revenue for the quarter was up 38.5% on a year-over-year basis. On average, sell-side analysts predict that Cactus, Inc. will post 2.88 EPS for the current year.

Cactus Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 1st were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, June 1st. Cactus’s payout ratio is currently 52.83%.

Insider Activity

In related news, Director Michael Y. Mcgovern sold 12,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $56.57, for a total transaction of $678,840.00. Following the sale, the director owned 15,990 shares in the company, valued at $904,554.30. This represents a 42.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan Semple sold 10,206 shares of the firm’s stock in a transaction that occurred 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 sale, the director directly 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 disclosure for this sale is available in the SEC filing. 12.91% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

WHD has been the subject of a number of recent research reports. Piper Sandler increased their price objective on Cactus from $69.00 to $72.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Barclays upped their price target on Cactus from $62.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Citigroup increased their price target on Cactus from $65.00 to $67.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Weiss Ratings raised Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Finally, Wall Street Zen cut Cactus from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Cactus has a consensus rating of “Moderate Buy” and a consensus target price of $63.40.

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