Quadrature Capital Ltd Boosts Stake in Cactus, Inc. (NYSE:WHD)

Quadrature Capital Ltd raised its position in Cactus, Inc. (NYSE:WHD) by 54.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,748 shares of the company’s stock after buying an additional 9,752 shares during the period. Quadrature Capital Ltd’s holdings in Cactus were worth $1,259,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cactus by 3.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 572,530 shares of the company’s stock worth $28,747,000 after acquiring an additional 18,673 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Cactus by 17.8% during the third quarter. Envestnet Asset Management Inc. now owns 82,178 shares of the company’s stock worth $4,126,000 after acquiring an additional 12,438 shares in the last quarter. FMR LLC boosted its stake in Cactus by 181.5% during the third quarter. FMR LLC now owns 1,898,398 shares of the company’s stock worth $95,319,000 after acquiring an additional 1,224,079 shares in the last quarter. Pearl River Capital LLC lifted its stake in shares of Cactus by 85.5% in the third quarter. Pearl River Capital LLC now owns 12,975 shares of the company’s stock worth $651,000 after buying an additional 5,982 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in shares of Cactus by 6.7% in the third quarter. Federated Hermes Inc. now owns 579,035 shares of the company’s stock worth $29,073,000 after buying an additional 36,583 shares in the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Cactus Stock Down 2.0 %

Shares of WHD opened at $51.65 on Thursday. The company’s 50-day simple moving average is $50.83 and its 200-day simple moving average is $46.90. The stock has a market capitalization of $4.11 billion, a PE ratio of 20.58, a P/E/G ratio of 1.62 and a beta of 1.94. Cactus, Inc. has a 1 year low of $37.58 and a 1 year high of $57.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.17 and a current ratio of 3.24.

Cactus (NYSE:WHD) last released its earnings results on Wednesday, May 1st. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The company had revenue of $274.12 million during the quarter, compared to the consensus estimate of $270.70 million. Cactus had a return on equity of 22.46% and a net margin of 14.46%. Cactus’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 earnings per share. Analysts forecast that Cactus, Inc. will post 2.94 earnings per share for the current fiscal year.

Cactus Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, May 28th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.93%. The ex-dividend date was Tuesday, May 28th. Cactus’s dividend payout ratio (DPR) is 19.12%.

Insider Transactions at Cactus

In other Cactus news, EVP William D. Marsh sold 2,059 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $51.03, for a total value of $105,070.77. Following the transaction, the executive vice president now directly owns 1,852 shares of the company’s stock, valued at approximately $94,507.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP William D. Marsh sold 2,059 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $51.03, for a total transaction of $105,070.77. Following the completion of the transaction, the executive vice president now directly owns 1,852 shares in the company, valued at approximately $94,507.56. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Scott Bender sold 39,957 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $51.01, for a total value of $2,038,206.57. Following the completion of the transaction, the chief executive officer now directly owns 400,234 shares of the company’s stock, valued at approximately $20,415,936.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 602,059 shares of company stock worth $30,948,949. 17.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Bank of America upped their target price on shares of Cactus from $40.00 to $43.00 and gave the stock an “underperform” rating in a research report on Monday, April 15th. Barclays increased their target price on Cactus from $55.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Benchmark reiterated a “hold” rating on shares of Cactus in a report on Monday, May 6th. Finally, Johnson Rice downgraded shares of Cactus from a “buy” rating to an “accumulate” rating in a research report on Friday, May 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Cactus presently has a consensus rating of “Hold” and an average price target of $55.14.

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.