Capital International Investors Buys 498,210 Shares of Cactus, Inc. $WHD

Capital International Investors grew its stake in shares of Cactus, Inc. (NYSE:WHD) by 27.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,343,731 shares of the company’s stock after acquiring an additional 498,210 shares during the period. Capital International Investors’ holdings in Cactus were worth $107,062,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in shares of Cactus by 67.6% during the third quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock valued at $25,000 after acquiring an additional 259 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Cactus in the 3rd quarter valued at about $33,000. Advisors Asset Management Inc. raised its holdings in shares of Cactus by 113.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock valued at $47,000 after purchasing an additional 543 shares in the last quarter. Huntington National Bank raised its holdings in shares of Cactus by 55.4% in the 3rd quarter. Huntington National Bank now owns 1,094 shares of the company’s stock valued at $43,000 after purchasing an additional 390 shares in the last quarter. Finally, Global Retirement Partners LLC raised its holdings in shares of Cactus by 39,200.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,179 shares of the company’s stock valued at $54,000 after purchasing an additional 1,176 shares in the last quarter. Institutional investors own 85.11% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on WHD. Piper Sandler boosted their price target on shares of Cactus from $69.00 to $72.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Barclays lifted their price objective on shares of Cactus from $62.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Citigroup lifted their price objective on shares of Cactus from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Weiss Ratings downgraded shares of Cactus from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 27th. Finally, Stifel Nicolaus lifted their price objective on shares of Cactus from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $62.60.

Cactus Stock Up 4.7%

Shares of Cactus stock opened at $59.27 on Tuesday. The firm’s 50 day moving average price is $55.50 and its 200-day moving average price is $51.90. The company has a quick ratio of 1.71, a current ratio of 2.61 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a 52-week low of $33.20 and a 52-week high of $64.30. The company has a market cap of $4.75 billion, a P/E ratio of 55.91, a PEG ratio of 2.23 and a beta of 1.37.

Cactus (NYSE:WHD) last released its earnings results on Thursday, May 7th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. The company had revenue of $388.35 million during the quarter, compared to analysts’ expectations of $380.42 million. Cactus had a net margin of 6.17% and a return on equity of 15.43%. Cactus’s revenue for the quarter was up 38.5% on a year-over-year basis. During the same period last year, the business earned $0.73 EPS. On average, sell-side analysts predict that Cactus, Inc. will post 2.86 EPS for the current fiscal year.

Cactus Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Monday, June 1st will be paid a $0.14 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.56 dividend on an annualized basis and a yield of 0.9%. Cactus’s dividend payout ratio (DPR) is 52.83%.

Insider Buying and Selling

In related news, Director Alan Semple sold 10,206 shares of Cactus stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $56.62, for a total value of $577,863.72. Following the completion of the sale, the director directly owned 29,444 shares in the company, valued at $1,667,119.28. This trade represents a 25.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Y. Mcgovern sold 12,000 shares of Cactus stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $56.57, for a total transaction of $678,840.00. Following the completion of the sale, the director owned 15,990 shares of the company’s stock, valued at $904,554.30. This trade represents a 42.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 12.91% of the stock is owned by company insiders.

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