Envestnet Asset Management Inc. Buys 7,231 Shares of Cactus, Inc. (NYSE:WHD)

Envestnet Asset Management Inc. boosted its stake in shares of Cactus, Inc. (NYSE:WHD) by 9.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,641 shares of the company’s stock after acquiring an additional 7,231 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Cactus were worth $4,358,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its position in Cactus by 41.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 323,485 shares of the company’s stock valued at $16,203,000 after acquiring an additional 94,704 shares in the last quarter. Keeley Teton Advisors LLC boosted its position in Cactus by 24.0% during the 4th quarter. Keeley Teton Advisors LLC now owns 98,118 shares of the company’s stock valued at $4,455,000 after acquiring an additional 18,962 shares in the last quarter. Norden Group LLC boosted its position in Cactus by 1,182.8% during the 1st quarter. Norden Group LLC now owns 117,252 shares of the company’s stock valued at $5,873,000 after acquiring an additional 108,112 shares in the last quarter. First Trust Advisors LP boosted its position in Cactus by 595.4% during the 4th quarter. First Trust Advisors LP now owns 683,051 shares of the company’s stock valued at $31,011,000 after acquiring an additional 584,831 shares in the last quarter. Finally, FCF Advisors LLC bought a new stake in Cactus during the 1st quarter valued at $991,000. 85.11% of the stock is owned by institutional investors.

Cactus Stock Up 2.9 %

Cactus stock opened at $61.41 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.75 and a quick ratio of 2.59. The stock has a market capitalization of $4.89 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 2.14 and a beta of 1.95. Cactus, Inc. has a 1-year low of $37.58 and a 1-year high of $64.96. The business has a fifty day moving average price of $59.11 and a 200-day moving average price of $54.09.

Cactus (NYSE:WHD) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.09. The firm had revenue of $290.39 million during the quarter, compared to analysts’ expectations of $276.76 million. Cactus had a return on equity of 21.22% and a net margin of 16.88%. The business’s quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 EPS. Equities research analysts forecast that Cactus, Inc. will post 3.04 EPS for the current fiscal year.

Cactus Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were given a dividend of $0.13 per share. The ex-dividend date was Monday, August 26th. This represents a $0.52 dividend on an annualized basis and a yield of 0.85%. This is a boost from Cactus’s previous quarterly dividend of $0.12. Cactus’s payout ratio is currently 20.72%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on WHD. Piper Sandler dropped their target price on Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Citigroup increased their target price on Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Finally, Barclays raised their price objective on Cactus from $56.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Cactus has an average rating of “Hold” and an average price target of $54.00.

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.