Vanguard Group Inc. Has $297.96 Million Position in Cactus, Inc. $WHD

Vanguard Group Inc. decreased its holdings in shares of Cactus, Inc. (NYSE:WHD) by 1.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 7,549,093 shares of the company’s stock after selling 86,060 shares during the period. Vanguard Group Inc. owned approximately 0.09% of Cactus worth $297,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WHD. State Street Corp increased its holdings in shares of Cactus by 0.7% in the second quarter. State Street Corp now owns 2,774,526 shares of the company’s stock valued at $121,302,000 after purchasing an additional 18,104 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cactus by 2.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,912,393 shares of the company’s stock worth $83,618,000 after buying an additional 48,562 shares during the period. First Trust Advisors LP raised its holdings in Cactus by 5.2% in the 2nd quarter. First Trust Advisors LP now owns 1,349,868 shares of the company’s stock valued at $59,016,000 after acquiring an additional 66,591 shares during the period. Alliancebernstein L.P. lifted its position in Cactus by 13.9% during the second quarter. Alliancebernstein L.P. now owns 989,141 shares of the company’s stock worth $43,245,000 after acquiring an additional 120,732 shares during the last quarter. Finally, Wasatch Advisors LP boosted its holdings in shares of Cactus by 7.5% during the second quarter. Wasatch Advisors LP now owns 752,947 shares of the company’s stock worth $32,919,000 after acquiring an additional 52,292 shares during the period. 85.11% of the stock is owned by institutional investors.

Cactus Stock Up 4.9%

WHD stock opened at $54.09 on Friday. Cactus, Inc. has a 52 week low of $33.20 and a 52 week high of $59.25. The business has a 50-day simple moving average of $53.29 and a 200 day simple moving average of $45.32. The company has a quick ratio of 3.74, a current ratio of 5.28 and a debt-to-equity ratio of 0.01. The company has a market cap of $4.32 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 5.27 and a beta of 1.27.

Cactus (NYSE:WHD) last released its earnings results on Wednesday, February 25th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.58 by $0.07. Cactus had a net margin of 15.39% and a return on equity of 15.42%. The firm had revenue of $261.20 million for the quarter, compared to analyst estimates of $250.60 million. During the same period last year, the firm earned $0.71 EPS. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. Sell-side analysts anticipate that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.14 per share. The ex-dividend date is Monday, March 2nd. This represents a $0.56 annualized dividend and a yield of 1.0%. Cactus’s dividend payout ratio is presently 23.33%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Piper Sandler initiated coverage on Cactus in a research note on Tuesday. They set an “overweight” rating and a $73.00 target price on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Cactus in a research report on Monday, December 29th. Zacks Research cut shares of Cactus from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Barclays raised their price target on shares of Cactus from $51.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 17th. Finally, Citigroup upgraded shares of Cactus from a “neutral” rating to a “buy” rating and increased their target price for the stock from $45.00 to $55.00 in a research report on Thursday, December 11th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $54.00.

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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.