Cactus, Inc. $WHD Holdings Raised by Energy Income Partners LLC

Energy Income Partners LLC raised its stake in shares of Cactus, Inc. (NYSE:WHD) by 48.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 300,759 shares of the company’s stock after buying an additional 98,124 shares during the period. Energy Income Partners LLC owned about 0.38% of Cactus worth $14,247,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Paradice Investment Management LLC raised its position in Cactus by 16.1% during the fourth 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 in the last quarter. VELA Investment Management LLC grew its position in Cactus by 24.2% in the fourth quarter. VELA Investment Management LLC now owns 146,042 shares of the company’s stock worth $6,671,000 after acquiring an additional 28,493 shares in the last quarter. UBS Group AG grew its position in Cactus by 81.8% in the fourth quarter. UBS Group AG now owns 380,513 shares of the company’s stock worth $17,382,000 after acquiring an additional 171,223 shares in the last quarter. Vest Financial LLC grew its position in Cactus by 24.7% in the fourth quarter. Vest Financial LLC now owns 134,568 shares of the company’s stock worth $6,147,000 after acquiring an additional 26,669 shares in the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Cactus during the 4th quarter worth $2,053,000. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Cactus Trading Down 2.3%

NYSE:WHD opened at $53.86 on Tuesday. The company’s 50 day moving average is $55.81 and its 200-day moving average is $54.13. The company has a quick ratio of 1.71, a current ratio of 2.61 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a 12 month low of $33.20 and a 12 month high of $64.30. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 50.81, a P/E/G ratio of 2.08 and a beta of 1.38.

Cactus (NYSE:WHD) last posted 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 during the quarter, compared to the consensus estimate of $380.42 million. During the same period in the prior year, the firm earned $0.73 EPS. Cactus’s quarterly revenue was up 38.5% compared to the same quarter last year. Equities analysts anticipate that Cactus, Inc. will post 2.92 EPS for the current year.

Cactus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 1st were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, June 1st. Cactus’s dividend payout ratio is currently 52.83%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on WHD shares. Citigroup lifted their price objective on shares of Cactus from $65.00 to $67.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Barclays increased their target price on shares of Cactus from $62.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Piper Sandler raised their target price on Cactus from $72.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Weiss Ratings raised Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $68.00 price target (up from $66.00) on shares of Cactus in a research note on Tuesday, June 16th. 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $63.60.

Insider Buying and Selling at Cactus

In other Cactus news, Director Alan Semple sold 10,206 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $56.62, for a total value of $577,863.72. Following the sale, the director directly owned 29,444 shares in the company, valued at $1,667,119.28. This trade represents a 25.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $678,840.00. Following 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 ownership of the stock. The SEC filing for this sale provides additional information. 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.