Geode Capital Management LLC lifted its position in Cactus, Inc. (NYSE:WHD – Free Report) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,964,059 shares of the company’s stock after purchasing an additional 28,415 shares during the period. Geode Capital Management LLC’s holdings in Cactus were worth $89,729,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of WHD. Wellington Management Group LLP boosted its holdings in shares of Cactus by 52.8% in the third quarter. Wellington Management Group LLP now owns 3,304,595 shares of the company’s stock valued at $130,432,000 after purchasing an additional 1,141,249 shares during the period. Balyasny Asset Management L.P. purchased a new stake in shares of Cactus in the second quarter valued at approximately $30,648,000. Capital Research Global Investors purchased a new stake in shares of Cactus in the third quarter valued at approximately $19,563,000. Ameriprise Financial Inc. boosted its holdings in shares of Cactus by 130.7% in the second quarter. Ameriprise Financial Inc. now owns 694,149 shares of the company’s stock valued at $30,340,000 after purchasing an additional 393,260 shares during the period. Finally, Danske Bank A S boosted its holdings in shares of Cactus by 1,199.5% in the fourth quarter. Danske Bank A S now owns 352,367 shares of the company’s stock valued at $16,096,000 after purchasing an additional 325,252 shares during the period. Hedge funds and other institutional investors own 85.11% of the company’s stock.
Analyst Upgrades and Downgrades
WHD has been the subject of a number of research reports. Barclays boosted their price target on Cactus from $62.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Weiss Ratings lowered Cactus from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 27th. Citigroup upped their target price on Cactus from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Wall Street Zen lowered Cactus from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Finally, Piper Sandler upped their target price on Cactus from $69.00 to $72.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $62.60.
Cactus Stock Down 0.1%
Cactus stock opened at $56.59 on Monday. The business has a fifty day moving average of $55.29 and a two-hundred day moving average of $51.77. The company has a quick ratio of 1.71, a current ratio of 2.61 and a debt-to-equity ratio of 0.01. The firm has a market cap of $4.54 billion, a P/E ratio of 53.39, a P/E/G ratio of 2.23 and a beta of 1.37. Cactus, Inc. has a twelve month low of $33.20 and a twelve month high of $64.30.
Cactus (NYSE:WHD – Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.70 earnings per share 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 analyst estimates of $380.42 million. Cactus had a return on equity of 15.43% and a net margin of 6.17%.Cactus’s revenue was up 38.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.73 earnings per share. On average, analysts forecast that Cactus, Inc. will post 2.86 earnings per share for the current fiscal year.
Cactus Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Monday, June 1st will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.0%. Cactus’s dividend payout ratio is presently 52.83%.
Insider Transactions at Cactus
In other news, Director Michael Y. Mcgovern sold 12,000 shares of the company’s stock in a transaction 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 transaction, the director directly owned 15,990 shares of the company’s stock, valued at approximately $904,554.30. This represents a 42.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Alan Semple sold 10,206 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $56.62, for a total value of $577,863.72. Following the transaction, the director directly owned 29,444 shares in the company, valued at approximately $1,667,119.28. The trade was a 25.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 129,015 shares of company stock valued at $6,588,609. Corporate insiders own 12.91% of the company’s stock.
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.
Featured Articles
- Five stocks we like better than Cactus
- These 3 Insurance Stocks Made New 52-Week Highs: Still Time to Buy?
- 3 Stocks Under $20 to Buy Before a Broader Market Rally
- Petco Faces Tough Competition, But Momentum Is Building
- The Lock-In Effect Is Real—These 3 Homebuilders Are Betting on It
Want to see what other hedge funds are holding WHD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cactus, Inc. (NYSE:WHD – Free Report).
Receive News & Ratings for Cactus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cactus and related companies with MarketBeat.com's FREE daily email newsletter.
