Bridge City Capital LLC Sells 10,926 Shares of Cactus, Inc. $WHD

Bridge City Capital LLC trimmed its holdings in Cactus, Inc. (NYSE:WHD) by 13.8% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 68,334 shares of the company’s stock after selling 10,926 shares during the quarter. Bridge City Capital LLC owned about 0.09% of Cactus worth $3,121,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of Cactus by 52.8% during the 3rd 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 during the period. State Street Corp grew its stake in shares of Cactus by 3.0% during the 4th quarter. State Street Corp now owns 2,844,994 shares of the company’s stock valued at $129,959,000 after purchasing an additional 83,190 shares during the period. Capital International Investors grew its stake 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 period. Geode Capital Management LLC grew its stake in shares of Cactus by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 1,964,059 shares of the company’s stock valued at $89,729,000 after purchasing an additional 28,415 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of Cactus by 17.4% during the 4th quarter. First Trust Advisors LP now owns 1,839,336 shares of the company’s stock valued at $84,021,000 after purchasing an additional 272,452 shares during the period. 85.11% of the stock is currently owned by institutional investors.

Cactus Stock Up 0.8%

WHD stock opened at $59.01 on Friday. Cactus, Inc. has a twelve month low of $33.20 and a twelve 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 stock has a market cap of $4.73 billion, a P/E ratio of 55.67, a PEG ratio of 2.34 and a beta of 1.37. The business’s 50-day moving average price is $56.39 and its 200-day moving average price is $52.32.

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. Cactus had a return on equity of 15.43% and a net margin of 6.17%.The firm had revenue of $388.35 million for the quarter, compared to analysts’ expectations of $380.42 million. During the same period in the previous year, the firm earned $0.73 EPS. The business’s quarterly revenue was up 38.5% on a year-over-year basis. On average, equities research analysts forecast that Cactus, Inc. will post 2.85 EPS for the current year.

Cactus Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Monday, June 1st will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, June 1st. Cactus’s payout ratio is presently 52.83%.

Insider Transactions at Cactus

In other 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 transaction, the director directly owned 15,990 shares of the company’s stock, valued at $904,554.30. The trade was a 42.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 directly owned 29,444 shares in the company, valued at approximately $1,667,119.28. The trade was 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 issued reports on WHD shares. Stifel Nicolaus boosted their price target on Cactus from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Citigroup boosted their price target on Cactus from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Piper Sandler boosted their price target on Cactus from $69.00 to $72.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Barclays boosted their price target on Cactus from $62.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Finally, Wall Street Zen downgraded Cactus from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. 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 MarketBeat.com, Cactus currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.60.

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.