Vanguard Group Inc. Has $297.96 Million Position in Cactus, Inc. $WHD

Vanguard Group Inc. lessened its holdings in Cactus, Inc. (NYSE:WHD) by 1.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,549,093 shares of the company’s stock after selling 86,060 shares during the period. Vanguard Group Inc. owned approximately 9.46% of Cactus worth $297,963,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WHD. State Street Corp boosted its holdings in shares of Cactus by 0.7% in the 2nd quarter. State Street Corp now owns 2,774,526 shares of the company’s stock worth $121,302,000 after acquiring an additional 18,104 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Cactus by 2.6% in the second quarter. Geode Capital Management LLC now owns 1,912,393 shares of the company’s stock valued at $83,618,000 after buying an additional 48,562 shares during the last quarter. First Trust Advisors LP grew its holdings in Cactus by 5.2% during the 2nd quarter. First Trust Advisors LP now owns 1,349,868 shares of the company’s stock worth $59,016,000 after acquiring an additional 66,591 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in Cactus by 13.9% during the 2nd quarter. Alliancebernstein L.P. now owns 989,141 shares of the company’s stock worth $43,245,000 after buying an additional 120,732 shares in the last quarter. Finally, Wasatch Advisors LP lifted its stake in shares of Cactus by 7.5% during the second quarter. Wasatch Advisors LP now owns 752,947 shares of the company’s stock valued at $32,919,000 after acquiring an additional 52,292 shares during the period. Institutional investors own 85.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WHD. Zacks Research cut shares of Cactus from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Weiss Ratings restated a “hold (c)” rating on shares of Cactus in a report on Monday, December 29th. Citigroup upgraded Cactus from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $45.00 to $55.00 in a report on Thursday, December 11th. Piper Sandler began coverage on Cactus in a research note on Tuesday. They set an “overweight” rating and a $73.00 target price for the company. Finally, Stifel Nicolaus raised their target price on shares of Cactus from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $54.00.

Cactus Stock Up 4.9%

NYSE:WHD opened at $54.09 on Friday. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of 22.54, a price-to-earnings-growth ratio of 5.27 and a beta of 1.27. Cactus, Inc. has a twelve month low of $33.20 and a twelve month high of $59.25. The stock’s 50 day moving average price is $53.29 and its two-hundred day moving average price is $45.32. The company has a quick ratio of 3.74, a current ratio of 5.28 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.58 by $0.07. Cactus had a return on equity of 15.42% and a net margin of 15.39%.The company had revenue of $261.20 million during the quarter, compared to the consensus estimate of $250.60 million. During the same quarter in the prior year, the firm posted $0.71 EPS. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. Equities research analysts expect that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Monday, March 2nd will be issued a dividend of $0.14 per share. The ex-dividend date is Monday, March 2nd. This represents a $0.56 dividend on an annualized basis and a yield of 1.0%. Cactus’s dividend payout ratio (DPR) is presently 23.33%.

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.