State of Alaska Department of Revenue Cuts Holdings in Cactus, Inc. (NYSE:WHD)

State of Alaska Department of Revenue trimmed its holdings in shares of Cactus, Inc. (NYSE:WHD) by 2.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 36,934 shares of the company’s stock after selling 948 shares during the period. State of Alaska Department of Revenue’s holdings in Cactus were worth $1,692,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Cactus by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 7,680,731 shares of the company’s stock worth $448,247,000 after buying an additional 147,395 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Cactus by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 1,804,107 shares of the company’s stock worth $105,308,000 after buying an additional 45,821 shares in the last quarter. Capital International Investors raised its stake in shares of Cactus by 14.8% during the 4th quarter. Capital International Investors now owns 1,686,858 shares of the company’s stock worth $98,445,000 after buying an additional 218,004 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Cactus by 34.6% during the 4th quarter. First Trust Advisors LP now owns 1,556,565 shares of the company’s stock worth $90,841,000 after buying an additional 400,452 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Cactus by 3.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,238,420 shares of the company’s stock worth $72,271,000 after buying an additional 43,237 shares in the last quarter. 85.11% of the stock is owned by hedge funds and other institutional investors.

Cactus Price Performance

Shares of NYSE:WHD opened at $43.89 on Tuesday. The business’s fifty day moving average price is $41.98 and its two-hundred day moving average price is $50.00. The stock has a market cap of $3.50 billion, a PE ratio of 15.62 and a beta of 1.49. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.47 and a current ratio of 4.85. Cactus, Inc. has a one year low of $33.80 and a one year high of $70.01.

Cactus (NYSE:WHD) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.03. Cactus had a return on equity of 18.99% and a net margin of 16.78%. The business had revenue of $280.32 million for the quarter, compared to analysts’ expectations of $272.22 million. During the same quarter last year, the firm earned $0.75 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. On average, analysts forecast that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Monday, June 2nd. Cactus’s dividend payout ratio (DPR) is 18.51%.

Analysts Set New Price Targets

A number of research firms recently weighed in on WHD. Stifel Nicolaus lowered their price target on Cactus from $61.00 to $57.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Barclays lowered their price target on Cactus from $54.00 to $53.00 and set an “overweight” rating on the stock in a report on Friday. Finally, JPMorgan Chase & Co. lowered their price target on Cactus from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $52.33.

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.