Congress Wealth Management LLC DE lifted its holdings in Cactus, Inc. (NYSE:WHD – Get Rating) by 14.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,155 shares of the company’s stock after buying an additional 3,756 shares during the period. Congress Wealth Management LLC DE’s holdings in Cactus were worth $1,174,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of WHD. EverSource Wealth Advisors LLC boosted its position in shares of Cactus by 866.7% in the second quarter. EverSource Wealth Advisors LLC now owns 667 shares of the company’s stock worth $27,000 after buying an additional 598 shares during the period. Premier Fund Managers Ltd boosted its position in Cactus by 6.8% during the second quarter. Premier Fund Managers Ltd now owns 23,643 shares of the company’s stock valued at $82,000 after purchasing an additional 1,500 shares during the last quarter. CWM LLC boosted its position in Cactus by 35.3% during the second quarter. CWM LLC now owns 2,956 shares of the company’s stock valued at $119,000 after purchasing an additional 771 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Cactus by 22.7% during the second quarter. Nisa Investment Advisors LLC now owns 3,805 shares of the company’s stock valued at $153,000 after purchasing an additional 705 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Cactus by 70.5% during the first quarter. PNC Financial Services Group Inc. now owns 3,016 shares of the company’s stock valued at $172,000 after purchasing an additional 1,247 shares during the last quarter. Institutional investors and hedge funds own 83.96% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on WHD shares. Citigroup lifted their price objective on Cactus from $47.00 to $58.00 in a research report on Sunday, November 13th. Bank of America boosted their price target on Cactus from $45.00 to $59.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 8th. Barclays cut Cactus from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $52.00 to $48.00 in a research report on Thursday, October 6th. Finally, Morgan Stanley boosted their price target on Cactus from $50.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, September 26th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $56.17.
Cactus Trading Down 2.8 %
Cactus (NYSE:WHD – Get Rating) last issued its earnings results on Monday, November 7th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. Cactus had a net margin of 14.94% and a return on equity of 14.60%. The company had revenue of $184.50 million during the quarter, compared to analysts’ expectations of $183.08 million. During the same quarter in the previous year, the company posted $0.19 EPS. The business’s revenue for the quarter was up 59.9% compared to the same quarter last year. Equities analysts anticipate that Cactus, Inc. will post 1.78 earnings per share for the current fiscal year.
Cactus Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Monday, November 28th will be paid a $0.11 dividend. The ex-dividend date is Friday, November 25th. This represents a $0.44 annualized dividend and a yield of 0.82%. Cactus’s dividend payout ratio (DPR) is currently 28.57%.
Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment in the United States, Australia, China, and the Kingdom of Saudi Arabia. The company's principal products include Cactus SafeDrill wellhead systems, Cactus SafeLink monobore, SafeClamp, and SafeInject systems, as well as frac stacks, zipper manifolds, and production trees.
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