Wellington Management Group LLP Has $134 Million Stock Holdings in Cactus, Inc. $WHD

Wellington Management Group LLP trimmed its position in shares of Cactus, Inc. (NYSE:WHD) by 8.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,615,629 shares of the company’s stock after selling 249,797 shares during the period. Wellington Management Group LLP owned about 3.26% of Cactus worth $133,999,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio purchased a new position in Cactus in the second quarter valued at about $35,000. Aster Capital Management DIFC Ltd raised its stake in shares of Cactus by 73.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company’s stock worth $34,000 after purchasing an additional 314 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Cactus during the 3rd quarter valued at about $33,000. Advisors Asset Management Inc. lifted its holdings in shares of Cactus by 113.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock valued at $47,000 after buying an additional 543 shares during the last quarter. Finally, Harbor Investment Advisory LLC bought a new stake in shares of Cactus in the 2nd quarter valued at approximately $58,000. Institutional investors and hedge funds own 85.11% of the company’s stock.

Analysts Set New Price Targets

WHD has been the topic of a number of research reports. Barclays increased their price objective on Cactus from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Piper Sandler boosted their target price on shares of Cactus from $72.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Wall Street Zen upgraded shares of Cactus from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Citigroup downgraded shares of Cactus from a “buy” rating to a “neutral” rating and raised their price target for the company from $67.00 to $75.00 in a report on Thursday, August 20th. Finally, Stifel Nicolaus lifted their price objective on shares of Cactus from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Cactus presently has a consensus rating of “Hold” and an average price target of $66.80.

Insider Activity

In related news, President Joel Bender sold 86,700 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $57.62, for a total transaction of $4,995,654.00. Following the completion of the sale, the president directly owned 41,519 shares of the company’s stock, valued at approximately $2,392,324.78. This represents a 67.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Scott Bender sold 100,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $63.89, for a total transaction of $6,389,000.00. Following the completion of the transaction, the chief executive officer owned 120,527 shares in the company, valued at $7,700,470.03. The trade was a 45.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 263,455 shares of company stock valued at $16,261,764 in the last quarter. 12.91% of the stock is currently owned by corporate insiders.

Cactus Stock Up 0.7%

Shares of WHD stock opened at $70.17 on Tuesday. The stock’s 50 day simple moving average is $60.33 and its 200 day simple moving average is $56.46. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 2.59. Cactus, Inc. has a twelve month low of $33.20 and a twelve month high of $74.07. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of 59.97, a PEG ratio of 2.46 and a beta of 1.36.

Cactus (NYSE:WHD) last announced its earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.29. Cactus had a return on equity of 16.66% and a net margin of 6.01%.The firm had revenue of $449.53 million during the quarter, compared to analysts’ expectations of $400.82 million. During the same quarter in the prior year, the business earned $0.66 earnings per share. The company’s revenue was up 64.3% on a year-over-year basis. As a group, research analysts predict that Cactus, Inc. will post 3.12 EPS for the current year.

Cactus Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 31st will be paid a $0.15 dividend. The ex-dividend date is Monday, August 31st. This is a positive change from Cactus’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.9%. Cactus’s dividend payout ratio is presently 47.86%.

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.