Sei Investments Co. grew its stake in shares of Cactus, Inc. (NYSE:WHD – Free Report) by 91.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 172,821 shares of the company’s stock after buying an additional 82,510 shares during the period. Sei Investments Co.’s holdings in Cactus were worth $8,187,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the company. Johnson Financial Group Inc. purchased a new stake in Cactus during the third quarter valued at about $33,000. Aster Capital Management DIFC Ltd lifted its stake in shares of Cactus by 73.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company’s stock valued at $34,000 after purchasing an additional 314 shares in the last quarter. Advisors Asset Management Inc. lifted its stake 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. Global Retirement Partners LLC increased its position in Cactus by 39,200.0% during the 4th quarter. Global Retirement Partners LLC now owns 1,179 shares of the company’s stock worth $54,000 after purchasing an additional 1,176 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its holdings in Cactus by 335.1% in the fourth quarter. Hantz Financial Services Inc. now owns 1,710 shares of the company’s stock valued at $78,000 after buying an additional 1,317 shares during the period. 85.11% of the stock is currently owned by institutional investors and hedge funds.
Cactus Price Performance
Shares of WHD opened at $65.04 on Monday. The stock’s fifty day moving average is $55.52 and its 200-day moving average is $54.33. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 55.59, a price-to-earnings-growth ratio of 2.45 and a beta of 1.36. Cactus, Inc. has a one year low of $33.20 and a one year high of $65.19. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 2.59.
Cactus Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 31st will be issued a $0.15 dividend. This is an increase from Cactus’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.60 dividend on an annualized basis and a yield of 0.9%. Cactus’s payout ratio is 47.86%.
Analyst Ratings Changes
A number of equities analysts have recently commented on the stock. Piper Sandler raised their target price on shares of Cactus from $72.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Citigroup boosted their price objective on Cactus from $65.00 to $67.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Weiss Ratings upgraded Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Barclays upped their price target on Cactus from $62.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Finally, Stifel Nicolaus lifted their price objective on shares of Cactus from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Friday. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $64.40.
Get Our Latest Analysis on WHD
Cactus News Roundup
Here are the key news stories impacting Cactus this week:
- Positive Sentiment: Cactus reported adjusted earnings of $0.93 per share, well above the $0.64-$0.71 analyst estimates and up from $0.66 a year earlier. Revenue increased 64.3% year over year to $449.5 million, also surpassing expectations. Cactus Q2 earnings and revenue report
- Positive Sentiment: Management cited strong international demand and growth in Pressure Control and Spoolable Technologies, which helped expand earnings and backlog. The company expects Spoolable Technologies revenue to rise approximately 15%-20% in the third quarter. WHD Q2 earnings beat estimates
- Positive Sentiment: Cactus raised its quarterly dividend by 7.1%, from $0.14 to $0.15 per share, signaling confidence in cash generation and strengthening the income appeal of the stock. Cactus raises dividend after Q2 results
- Neutral Sentiment: Analyst sentiment remains generally favorable, with a consensus rating of “Moderate Buy” and recent price-target increases from Citigroup, Barclays, Stifel and Piper Sandler. However, the average target of $63.60 suggests limited upside after the recent rally.
- Negative Sentiment: Management expects Pressure Control revenue to decline about 10% in the third quarter, partially offsetting Spoolable Technologies growth and highlighting uneven performance between business segments. Cactus third-quarter segment outlook
- Negative Sentiment: CEO Scott Bender sold 13,300 shares for approximately $732,000, reducing his direct ownership by 9.4%. The transaction may create a modest sentiment overhang, although it does not change the company’s operating outlook. Cactus CEO insider sale
Insider Transactions at Cactus
In other news, CEO Scott Bender sold 13,300 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $55.07, for a total transaction of $732,431.00. Following the completion of the sale, the chief executive officer owned 128,219 shares of the company’s stock, valued at approximately $7,061,020.33. This trade represents a 9.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Alan Semple sold 10,206 shares of Cactus stock in a transaction dated 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 transaction, the director directly owned 29,444 shares of the company’s stock, valued at $1,667,119.28. This represents a 25.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 35,506 shares of company stock worth $1,989,135. 12.91% of the stock is currently owned by company insiders.
About Cactus
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.
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