Diversified Trust Co Acquires New Shares in Cactus, Inc. $WHD

Diversified Trust Co acquired a new position in shares of Cactus, Inc. (NYSE:WHD) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 17,153 shares of the company’s stock, valued at approximately $813,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP boosted its stake in shares of Cactus by 52.8% during 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 in the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Cactus in the second quarter valued at approximately $30,648,000. Capital International Investors raised its holdings in Cactus by 27.0% in the 4th quarter. Capital International Investors now owns 2,343,731 shares of the company’s stock valued at $107,062,000 after buying an additional 498,210 shares during the last quarter. Capital Research Global Investors bought a new position in Cactus in the 3rd quarter valued at approximately $19,563,000. Finally, Franklin Resources Inc. boosted its position in Cactus by 559.4% during the 4th quarter. Franklin Resources Inc. now owns 544,998 shares of the company’s stock worth $24,896,000 after buying an additional 462,345 shares during the period. Institutional investors and hedge funds own 85.11% of the company’s stock.

Insider Buying and Selling at Cactus

In other Cactus news, Director Michael Y. Mcgovern sold 12,000 shares of the 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 sale, the director directly owned 15,990 shares in the company, valued at approximately $904,554.30. This trade represents a 42.87% decrease in their position. The sale was disclosed in a legal 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 stock was 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 approximately $1,667,119.28. This trade represents a 25.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 12.91% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on WHD shares. Wall Street Zen lowered shares of Cactus from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Weiss Ratings raised shares of Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Piper Sandler lifted their price target on shares of Cactus from $69.00 to $72.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Barclays boosted their price objective on shares of Cactus from $62.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Finally, Citigroup increased their price objective on Cactus from $65.00 to $67.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $63.40.

Cactus Stock Performance

Shares of WHD stock opened at $50.93 on Thursday. The stock has a market capitalization of $4.08 billion, a PE ratio of 48.05, a PEG ratio of 2.07 and a beta of 1.37. The business’s 50 day simple moving average is $56.95 and its 200 day simple moving average is $53.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.61 and a quick ratio of 1.71. Cactus, Inc. has a one year low of $33.20 and a one year high of $64.30.

Cactus (NYSE:WHD) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.05. The firm had revenue of $388.35 million during the quarter, compared to analyst estimates of $380.42 million. Cactus had a net margin of 6.17% and a return on equity of 15.43%. The company’s revenue was up 38.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.73 EPS. As a group, research analysts forecast that Cactus, Inc. will post 2.88 earnings per share for the current year.

Cactus Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 1st were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Monday, June 1st. Cactus’s dividend payout ratio (DPR) is currently 52.83%.

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.