Cactus, Inc. $WHD Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its position in Cactus, Inc. (NYSE:WHD) by 15.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 188,516 shares of the company’s stock after selling 35,717 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Cactus were worth $8,855,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WHD. VELA Investment Management LLC raised its stake in shares of Cactus by 24.2% during the 4th quarter. VELA Investment Management LLC now owns 146,042 shares of the company’s stock worth $6,671,000 after buying an additional 28,493 shares during the last quarter. Paradice Investment Management LLC grew its stake in Cactus by 16.1% in the 4th quarter. Paradice Investment Management LLC now owns 675,932 shares of the company’s stock valued at $30,877,000 after acquiring an additional 93,714 shares during the last quarter. UBS Group AG increased its holdings in Cactus by 81.8% during the 4th quarter. UBS Group AG now owns 380,513 shares of the company’s stock valued at $17,382,000 after acquiring an additional 171,223 shares in the last quarter. Vest Financial LLC increased its holdings in Cactus by 24.7% during the 4th quarter. Vest Financial LLC now owns 134,568 shares of the company’s stock valued at $6,147,000 after acquiring an additional 26,669 shares in the last quarter. Finally, Royce & Associates LP increased its holdings in Cactus by 7.8% during the 4th quarter. Royce & Associates LP now owns 398,549 shares of the company’s stock valued at $18,206,000 after acquiring an additional 28,973 shares in the last quarter. 85.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cactus

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

Analyst Upgrades and Downgrades

WHD has been the topic of several recent research reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $68.00 price target (up from $66.00) on shares of Cactus in a report on Tuesday, June 16th. Piper Sandler raised their price objective on shares of Cactus from $72.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Barclays lifted their price objective on Cactus from $62.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Weiss Ratings raised Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Finally, Citigroup increased their target price on Cactus from $65.00 to $67.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Cactus currently has a consensus rating of “Moderate Buy” and an average price target of $63.60.

Cactus Price Performance

Cactus stock opened at $56.00 on Thursday. Cactus, Inc. has a 12-month low of $33.20 and a 12-month high of $64.30. The stock has a market capitalization of $4.49 billion, a P/E ratio of 52.83, a P/E/G ratio of 2.08 and a beta of 1.38. The firm’s 50-day moving average is $56.03 and its two-hundred day moving average is $54.00. 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 (NYSE:WHD) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. The business 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.73 earnings per share. Equities analysts predict that Cactus, Inc. will post 2.92 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. Shareholders of record on Monday, June 1st were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Monday, June 1st. Cactus’s payout ratio 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.