Public Sector Pension Investment Board Purchases New Position in Cactus, Inc. (NYSE:WHD)

Public Sector Pension Investment Board purchased a new position in shares of Cactus, Inc. (NYSE:WHD) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 144,607 shares of the company’s stock, valued at approximately $7,627,000.

Several other institutional investors also recently bought and sold shares of WHD. Pacer Advisors Inc. acquired a new position in shares of Cactus during the 2nd quarter worth approximately $122,623,000. First Trust Advisors LP raised its position in Cactus by 595.4% during the fourth quarter. First Trust Advisors LP now owns 683,051 shares of the company’s stock worth $31,011,000 after acquiring an additional 584,831 shares during the period. Public Employees Retirement Association of Colorado lifted its holdings in Cactus by 3,350.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 513,417 shares of the company’s stock valued at $23,309,000 after purchasing an additional 498,536 shares in the last quarter. Norges Bank acquired a new stake in shares of Cactus in the fourth quarter valued at about $20,204,000. Finally, Wasatch Advisors LP grew its position in shares of Cactus by 39.1% in the first quarter. Wasatch Advisors LP now owns 1,336,006 shares of the company’s stock valued at $66,921,000 after purchasing an additional 375,829 shares during the period. 85.11% of the stock is owned by institutional investors and hedge funds.

Cactus Stock Up 0.4 %

WHD stock opened at $63.06 on Wednesday. The company has a market cap of $5.02 billion, a price-to-earnings ratio of 25.12, a PEG ratio of 2.30 and a beta of 1.95. The firm has a 50-day moving average of $59.09 and a two-hundred day moving average of $53.77. Cactus, Inc. has a 12 month low of $37.58 and a 12 month high of $64.96. The company has a current ratio of 3.75, a quick ratio of 2.59 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.81 EPS for the quarter, beating the consensus estimate 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 revenue for the quarter was down 5.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 earnings per share. As a group, analysts forecast that Cactus, Inc. will post 3.04 earnings per share for the current fiscal year.

Cactus Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend was Monday, August 26th. This is a positive change from Cactus’s previous quarterly dividend of $0.12. Cactus’s payout ratio is currently 20.72%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on WHD. Barclays raised their price target on shares of Cactus from $56.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Johnson Rice cut Cactus from a “buy” rating to an “accumulate” rating in a report on Friday, May 31st. Citigroup lifted their price target on Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Finally, Piper Sandler reduced their price objective on Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cactus presently has an average rating of “Hold” and a consensus 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.