Boston Trust Walden Corp Decreases Stake in Cactus, Inc. $WHD

Boston Trust Walden Corp lowered its position in shares of Cactus, Inc. (NYSE:WHD) by 9.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 938,486 shares of the company’s stock after selling 100,230 shares during the quarter. Boston Trust Walden Corp’s holdings in Cactus were worth $44,456,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WHD. EverSource Wealth Advisors LLC grew its holdings in shares of Cactus by 67.6% in the third quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock valued at $25,000 after acquiring an additional 259 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of Cactus during the third quarter valued at approximately $33,000. Aster Capital Management DIFC Ltd lifted its holdings in Cactus by 73.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company’s stock worth $34,000 after acquiring an additional 314 shares during the period. Huntington National Bank lifted its holdings in Cactus by 55.4% during the third quarter. Huntington National Bank now owns 1,094 shares of the company’s stock worth $43,000 after acquiring an additional 390 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in Cactus by 113.8% in the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock worth $47,000 after purchasing an additional 543 shares during the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WHD. Stifel Nicolaus restated a “buy” rating and issued a $68.00 price objective (up from $66.00) on shares of Cactus in a research note on Tuesday, June 16th. Barclays lifted their target price on Cactus from $62.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Piper Sandler boosted their price target on shares of Cactus from $69.00 to $72.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Weiss Ratings upgraded shares of Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Finally, Wall Street Zen downgraded shares of Cactus from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $63.40.

Cactus Price Performance

Cactus stock opened at $50.38 on Friday. Cactus, Inc. has a 12 month low of $33.20 and a 12 month high of $64.30. The company has a current ratio of 2.61, a quick ratio of 1.71 and a debt-to-equity ratio of 0.01. The business’s 50 day simple moving average is $56.69 and its 200 day simple moving average is $53.24. The company has a market cap of $4.04 billion, a price-to-earnings ratio of 47.53, a PEG ratio of 1.91 and a beta of 1.38.

Cactus (NYSE:WHD) last released its earnings results on Thursday, May 7th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. The business had revenue of $388.35 million during 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 business’s revenue for the quarter was up 38.5% on a year-over-year basis. During the same period last year, the business posted $0.73 earnings per share. Sell-side analysts forecast that Cactus, Inc. will post 2.88 EPS for the current year.

Cactus Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 1st were paid a dividend of $0.14 per share. The ex-dividend date was Monday, June 1st. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. Cactus’s dividend payout ratio is presently 52.83%.

Insider Activity

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

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.