Cactus, Inc. (NYSE:WHD) Shares Purchased by Wasatch Advisors LP

Wasatch Advisors LP lifted its holdings in Cactus, Inc. (NYSE:WHD) by 39.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,336,006 shares of the company’s stock after purchasing an additional 375,829 shares during the period. Wasatch Advisors LP owned approximately 1.68% of Cactus worth $66,921,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its stake in Cactus by 41.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 323,485 shares of the company’s stock worth $16,203,000 after acquiring an additional 94,704 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in Cactus in the first quarter worth approximately $202,000. Southland Equity Partners LLC purchased a new position in Cactus in the first quarter worth approximately $212,000. Bridge City Capital LLC lifted its stake in Cactus by 0.8% in the first quarter. Bridge City Capital LLC now owns 69,590 shares of the company’s stock worth $3,486,000 after acquiring an additional 534 shares during the last quarter. Finally, FCF Advisors LLC purchased a new position in Cactus in the first quarter worth approximately $991,000. Institutional investors and hedge funds own 85.11% of the company’s stock.

Insider Buying and Selling at Cactus

In other Cactus news, EVP William D. Marsh sold 2,059 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $51.03, for a total transaction of $105,070.77. Following the transaction, the executive vice president now owns 1,852 shares in the company, valued at $94,507.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP William D. Marsh sold 2,059 shares of the business’s stock in a transaction dated 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 owns 1,852 shares in the company, valued at $94,507.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Joel Bender sold 358,458 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $51.10, for a total value of $18,317,203.80. Following the completion of the transaction, the president now owns 156,586 shares in the company, valued at approximately $8,001,544.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 602,059 shares of company stock valued at $30,948,949. Company insiders own 16.84% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Barclays lifted their price target on shares of Cactus from $55.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Bank of America upped their price target on shares of Cactus from $40.00 to $43.00 and gave the company an “underperform” rating in a research report on Monday, April 15th. Benchmark reiterated a “hold” rating on shares of Cactus in a research 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 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, the company has a consensus rating of “Hold” and a consensus price target of $55.14.

Cactus Stock Performance

NYSE:WHD opened at $51.23 on Wednesday. The company has a quick ratio of 2.17, a current ratio of 3.24 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $57.00. The stock has a market cap of $4.08 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 1.66 and a beta of 1.98. The firm’s fifty day simple moving average is $50.97 and its 200-day simple moving average is $47.54.

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

Cactus Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, May 28th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend was Tuesday, May 28th. Cactus’s dividend payout ratio (DPR) is presently 19.12%.

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.