Sei Investments Co. Boosts Stake in Cactus, Inc. (NYSE:WHD)

Sei Investments Co. grew its stake in Cactus, Inc. (NYSE:WHD) by 3.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 357,201 shares of the company’s stock after acquiring an additional 11,973 shares during the quarter. Sei Investments Co. owned about 0.45% of Cactus worth $18,839,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Cactus by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 6,571,806 shares of the company’s stock valued at $329,182,000 after purchasing an additional 53,142 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in Cactus in the second quarter worth about $122,623,000. Boston Trust Walden Corp increased its holdings in shares of Cactus by 1.3% during the second quarter. Boston Trust Walden Corp now owns 1,955,227 shares of the company’s stock valued at $103,119,000 after acquiring an additional 25,839 shares in the last quarter. Wasatch Advisors LP increased its holdings in shares of Cactus by 39.1% during the first quarter. Wasatch Advisors LP now owns 1,336,006 shares of the company’s stock valued at $66,921,000 after acquiring an additional 375,829 shares in the last quarter. Finally, Capital International Investors raised its position in shares of Cactus by 3.9% in the 1st quarter. Capital International Investors now owns 1,293,233 shares of the company’s stock valued at $64,778,000 after purchasing an additional 48,379 shares during the last quarter. 85.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WHD. Johnson Rice lowered shares of Cactus from a “buy” rating to an “accumulate” rating in a research note on Friday, May 31st. Piper Sandler reduced their target price on Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Citigroup lifted their price target on Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Finally, Barclays increased their price objective on Cactus from $56.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Cactus currently has a consensus rating of “Hold” and a consensus price target of $54.00.

Cactus Price Performance

NYSE:WHD opened at $60.27 on Thursday. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 2.30 and a beta of 1.95. The firm’s fifty day moving average is $59.09 and its two-hundred day moving average is $53.81. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.59 and a current ratio of 3.75. Cactus, Inc. has a one year low of $37.58 and a one year high of $64.96.

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

Cactus Increases Dividend

The firm 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. The ex-dividend date of this dividend was Monday, August 26th. This is a boost from Cactus’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.86%. Cactus’s dividend payout ratio (DPR) is 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.