Louisiana State Employees Retirement System Purchases New Stake in Cactus, Inc. $WHD

Louisiana State Employees Retirement System acquired a new position in Cactus, Inc. (NYSE:WHD) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 30,500 shares of the company’s stock, valued at approximately $1,445,000.

A number of other institutional investors have also recently bought and sold shares of the business. Paradice Investment Management LLC lifted its position in shares of Cactus by 16.1% in the fourth quarter. Paradice Investment Management LLC now owns 675,932 shares of the company’s stock worth $30,877,000 after purchasing an additional 93,714 shares in the last quarter. VELA Investment Management LLC grew its position in Cactus by 24.2% during the fourth quarter. VELA Investment Management LLC now owns 146,042 shares of the company’s stock valued at $6,671,000 after purchasing an additional 28,493 shares in the last quarter. UBS Group AG increased its stake in Cactus by 81.8% in the 4th quarter. UBS Group AG now owns 380,513 shares of the company’s stock valued at $17,382,000 after buying an additional 171,223 shares during the period. Amova Asset Management Americas Inc. acquired a new position in Cactus in the 3rd quarter valued at approximately $525,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Cactus in the fourth quarter worth $2,053,000. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Cactus Stock Up 3.3%

Shares of WHD stock opened at $50.38 on Friday. Cactus, Inc. has a 12 month low of $33.20 and a 12 month high of $64.30. The company has a quick ratio of 1.71, a current ratio of 2.61 and a debt-to-equity ratio of 0.01. The firm has a market cap of $4.04 billion, a PE ratio of 47.53, a price-to-earnings-growth ratio of 1.91 and a beta of 1.38. The stock has a 50 day moving average of $56.69 and a 200-day moving average of $53.24.

Cactus (NYSE:WHD) last announced its quarterly earnings data 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. Cactus had a net margin of 6.17% and a return on equity of 15.43%. The business had revenue of $388.35 million for the quarter, compared to the consensus estimate of $380.42 million. During the same quarter last year, the company posted $0.73 earnings per share. Cactus’s quarterly revenue was up 38.5% on a year-over-year basis. On average, equities analysts predict that Cactus, Inc. will post 2.88 EPS for the current year.

Cactus Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 1st were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date was Monday, June 1st. Cactus’s dividend payout ratio (DPR) is currently 52.83%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Cactus

In other news, Director Alan Semple sold 10,206 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $56.62, for a total transaction of $577,863.72. Following the transaction, the director owned 29,444 shares in the company, valued at approximately $1,667,119.28. The trade was a 25.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael Y. Mcgovern sold 12,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $56.57, for a total transaction of $678,840.00. Following the transaction, the director directly owned 15,990 shares of the company’s stock, valued at $904,554.30. This represents a 42.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 12.91% of the company’s stock.

Cactus 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.