Barlow Wealth Partners Inc. Boosts Holdings in Cactus, Inc. (NYSE:WHD)

Barlow Wealth Partners Inc. raised its stake in shares of Cactus, Inc. (NYSE:WHD) by 1.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 258,467 shares of the company’s stock after acquiring an additional 3,960 shares during the period. Cactus makes up approximately 2.2% of Barlow Wealth Partners Inc.’s holdings, making the stock its 16th biggest position. Barlow Wealth Partners Inc.’s holdings in Cactus were worth $16,604,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in WHD. GAMMA Investing LLC raised its stake in Cactus by 27.5% during the 1st quarter. GAMMA Investing LLC now owns 1,005 shares of the company’s stock worth $50,000 after acquiring an additional 217 shares during the period. SG Americas Securities LLC purchased a new stake in Cactus in the first quarter valued at approximately $115,000. Covestor Ltd boosted its position in Cactus by 251.8% in the first quarter. Covestor Ltd now owns 2,508 shares of the company’s stock valued at $126,000 after buying an additional 1,795 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in Cactus in the first quarter valued at approximately $182,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in shares of Cactus during the 1st quarter worth approximately $202,000. Institutional investors own 85.11% of the company’s stock.

Wall Street Analyst Weigh In

WHD has been the subject of several analyst reports. Citigroup upped their target price on Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Piper Sandler cut 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. Finally, Barclays raised their price target on Cactus from $56.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Cactus currently has an average rating of “Hold” and an average price target of $54.00.

Cactus Stock Down 0.7 %

Shares of NYSE WHD traded down $0.41 on Wednesday, hitting $62.05. The company had a trading volume of 9,291 shares, compared to its average volume of 752,345. Cactus, Inc. has a 12-month low of $37.58 and a 12-month high of $64.96. The business has a 50 day moving average of $59.46 and a two-hundred day moving average of $54.71. The company has a quick ratio of 2.59, a current ratio of 3.75 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $4.94 billion, a P/E ratio of 24.88, a PEG ratio of 2.35 and a beta of 1.95.

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

Cactus Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were paid a dividend of $0.13 per share. The ex-dividend date was Monday, August 26th. This represents a $0.52 annualized dividend and a yield of 0.84%. This is a boost from Cactus’s previous quarterly dividend of $0.12. Cactus’s dividend payout ratio is presently 20.72%.

Cactus Company 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.