GAMMA Investing LLC Buys 1,096 Shares of Cactus, Inc. (NYSE:WHD)

GAMMA Investing LLC lifted its position in Cactus, Inc. (NYSE:WHD) by 81.5% during the 3rd quarter, Holdings Channel reports. The firm owned 2,441 shares of the company’s stock after buying an additional 1,096 shares during the quarter. GAMMA Investing LLC’s holdings in Cactus were worth $146,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in Cactus by 41.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 323,485 shares of the company’s stock worth $16,203,000 after buying an additional 94,704 shares during the last quarter. Norden Group LLC grew 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 worth $5,873,000 after acquiring an additional 108,112 shares during the last quarter. FCF Advisors LLC acquired a new stake in Cactus during the 1st quarter valued at $991,000. Congress Asset Management Co. MA raised its position in Cactus by 23.8% in the 4th quarter. Congress Asset Management Co. MA now owns 127,640 shares of the company’s stock valued at $5,795,000 after purchasing an additional 24,517 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Cactus by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 6,518,664 shares of the company’s stock worth $295,947,000 after purchasing an additional 148,355 shares in the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

Analysts Set New Price Targets

WHD has been the subject of a number of research reports. Stifel Nicolaus lowered their target price on Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a research note on Friday. Citigroup boosted their target price on shares of Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Piper Sandler decreased their price target on shares of Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Finally, Barclays boosted their price objective on shares of Cactus from $56.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. One 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’s stock. According to MarketBeat.com, Cactus currently has a consensus rating of “Hold” and a consensus price target of $55.40.

Cactus Trading Up 0.6 %

Shares of NYSE WHD opened at $62.97 on Friday. Cactus, Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $64.96. The firm has a market capitalization of $5.01 billion, a P/E ratio of 25.09, a P/E/G ratio of 2.29 and a beta of 1.95. 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 company’s 50 day simple moving average is $59.53 and its 200 day simple moving average is $54.94.

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

Cactus Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were given a dividend of $0.13 per share. This is a positive change from Cactus’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Monday, August 26th. Cactus’s payout ratio is presently 20.72%.

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.