Capital Research Global Investors Raises Position in Cactus, Inc. $WHD

Capital Research Global Investors grew its holdings in shares of Cactus, Inc. (NYSE:WHD) by 33.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 659,779 shares of the company’s stock after purchasing an additional 164,137 shares during the period. Capital Research Global Investors owned approximately 0.83% of Cactus worth $30,139,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Capital International Investors lifted its holdings in shares of Cactus by 27.0% during the 4th quarter. Capital International Investors now owns 2,343,731 shares of the company’s stock valued at $107,062,000 after purchasing an additional 498,210 shares during the last quarter. Vestcor Inc lifted its holdings in shares of Cactus by 20.9% during the 4th quarter. Vestcor Inc now owns 13,332 shares of the company’s stock valued at $609,000 after purchasing an additional 2,304 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Cactus by 3.9% during the 4th quarter. Bank of New York Mellon Corp now owns 732,758 shares of the company’s stock valued at $33,472,000 after purchasing an additional 27,439 shares during the last quarter. Natixis Advisors LLC lifted its holdings in shares of Cactus by 25.4% during the 4th quarter. Natixis Advisors LLC now owns 27,330 shares of the company’s stock valued at $1,248,000 after purchasing an additional 5,531 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Cactus during the 4th quarter valued at $2,029,000. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Wall Street Analysts Forecast Growth

WHD has been the subject of several analyst reports. Weiss Ratings lowered Cactus from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 27th. Stifel Nicolaus lifted their price target on Cactus from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Citigroup lifted their price target on Cactus from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Piper Sandler lifted their price target on Cactus from $69.00 to $72.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Finally, Wall Street Zen cut Cactus from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Cactus has a consensus rating of “Moderate Buy” and an average target price of $62.60.

Insider Transactions at Cactus

In other Cactus news, Director Michael Y. Mcgovern sold 12,000 shares of Cactus stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $56.57, for a total transaction of $678,840.00. Following the completion of the transaction, the director owned 15,990 shares in the company, valued at approximately $904,554.30. This trade represents a 42.87% decrease in their position. 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 transaction, the director owned 29,444 shares of the company’s stock, valued at $1,667,119.28. The trade was a 25.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 12.91% of the company’s stock.

Cactus Stock Performance

Shares of WHD opened at $57.98 on Wednesday. The stock has a 50-day moving average of $55.69 and a two-hundred day moving average of $52.03. Cactus, Inc. has a one year low of $33.20 and a one year high of $64.30. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.71 and a current ratio of 2.61. The stock has a market cap of $4.65 billion, a P/E ratio of 54.70, a P/E/G ratio of 2.34 and a beta of 1.37.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.70 EPS 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 analysts’ expectations of $380.42 million. Cactus had a return on equity of 15.43% and a net margin of 6.17%.The firm’s revenue was up 38.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.73 EPS. As a group, research analysts predict that Cactus, Inc. will post 2.86 EPS for the current year.

Cactus Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.14 per share. The ex-dividend date 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 (DPR) is presently 52.83%.

Cactus Company 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.