Guggenheim Capital LLC raised its holdings in shares of Cactus, Inc. (NYSE:WHD – Free Report) by 5.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,217 shares of the company’s stock after purchasing an additional 1,862 shares during the period. Guggenheim Capital LLC’s holdings in Cactus were worth $1,411,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in WHD. Neuberger Berman Group LLC acquired a new position in shares of Cactus in the 4th quarter valued at $47,278,000. Invesco Ltd. increased its position in shares of Cactus by 510.9% in the 1st quarter. Invesco Ltd. now owns 864,909 shares of the company’s stock valued at $49,075,000 after acquiring an additional 723,339 shares during the period. Wellington Management Group LLP increased its position in shares of Cactus by 53.5% in the 1st quarter. Wellington Management Group LLP now owns 1,352,737 shares of the company’s stock valued at $76,755,000 after acquiring an additional 471,418 shares during the period. Norges Bank acquired a new position in shares of Cactus in the 4th quarter valued at $23,617,000. Finally, Assenagon Asset Management S.A. purchased a new stake in Cactus in the first quarter valued at $13,997,000. 85.11% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts have commented on WHD shares. Citigroup upped their price target on shares of Cactus from $40.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, July 18th. Piper Sandler upped their price target on shares of Cactus from $46.00 to $59.00 and gave the company a “neutral” rating in a report on Monday, August 14th. Stifel Nicolaus upped their price target on shares of Cactus from $61.00 to $68.00 in a report on Thursday, August 10th. Benchmark reaffirmed a “buy” rating and issued a $60.00 price target on shares of Cactus in a report on Tuesday, August 8th. Finally, Barclays upped their price target on shares of Cactus from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, August 10th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $57.29.
Cactus Trading Up 4.1 %
WHD stock opened at $55.51 on Friday. The company’s 50-day simple moving average is $48.30 and its 200-day simple moving average is $43.46. The company has a quick ratio of 1.60, a current ratio of 2.76 and a debt-to-equity ratio of 0.04. Cactus, Inc. has a 52-week low of $31.36 and a 52-week high of $58.30. The firm has a market cap of $4.41 billion, a P/E ratio of 27.48, a PEG ratio of 3.43 and a beta of 2.04.
Cactus (NYSE:WHD – Get Free Report) last issued its quarterly earnings results on Monday, August 7th. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.15. The firm had revenue of $305.82 million for the quarter, compared to analyst estimates of $297.99 million. Cactus had a net margin of 14.35% and a return on equity of 22.22%. Cactus’s quarterly revenue was up 79.7% compared to the same quarter last year. During the same period last year, the company posted $0.44 EPS. As a group, equities analysts forecast that Cactus, Inc. will post 2.63 EPS for the current fiscal year.
Cactus Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Monday, August 28th will be paid a $0.12 dividend. The ex-dividend date is Friday, August 25th. This is a positive change from Cactus’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a yield of 0.86%. Cactus’s dividend payout ratio (DPR) is currently 23.76%.
Insider Activity at Cactus
In related news, CAO Donna L. Anderson sold 1,921 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $52.01, for a total value of $99,911.21. Following the transaction, the chief accounting officer now directly owns 3,823 shares of the company’s stock, valued at approximately $198,834.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Cactus news, Director John A. Odonnell sold 27,508 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $50.95, for a total value of $1,401,532.60. Following the completion of the sale, the director now owns 20,313 shares in the company, valued at approximately $1,034,947.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Donna L. Anderson sold 1,921 shares of the stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $52.01, for a total transaction of $99,911.21. Following the completion of the sale, the chief accounting officer now owns 3,823 shares of the company’s stock, valued at approximately $198,834.23. The disclosure for this sale can be found here. 17.72% of the stock is currently owned by corporate insiders.
Cactus Profile
Cactus, Inc designs, manufactures, and sells 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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