First Trust Advisors LP Purchases 217,016 Shares of Cactus, Inc. $WHD

First Trust Advisors LP raised its position in Cactus, Inc. (NYSE:WHD) by 16.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 1,566,884 shares of the company’s stock after purchasing an additional 217,016 shares during the period. First Trust Advisors LP’s holdings in Cactus were worth $61,845,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Balyasny Asset Management L.P. acquired a new position in shares of Cactus during the second quarter valued at about $30,648,000. Ameriprise Financial Inc. grew its stake in shares of Cactus by 130.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 694,149 shares of the company’s stock valued at $30,340,000 after buying an additional 393,260 shares during the period. Paradice Investment Management LLC increased its position in Cactus by 111.6% in the 3rd quarter. Paradice Investment Management LLC now owns 582,218 shares of the company’s stock valued at $22,980,000 after buying an additional 307,124 shares in the last quarter. Pacer Advisors Inc. increased its position in Cactus by 21,301.9% in the 3rd quarter. Pacer Advisors Inc. now owns 262,601 shares of the company’s stock valued at $10,365,000 after buying an additional 261,374 shares in the last quarter. Finally, Royce & Associates LP raised its stake in Cactus by 80.9% during the 3rd quarter. Royce & Associates LP now owns 369,576 shares of the company’s stock worth $14,587,000 after buying an additional 165,240 shares during the period. 85.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Barclays increased their price target on Cactus from $56.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Wall Street Zen upgraded Cactus from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Research cut Cactus from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Cactus in a research report on Monday, December 29th. Finally, Piper Sandler started coverage on shares of Cactus in a research note on Tuesday, February 24th. They set an “overweight” rating and a $73.00 price target for the company. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $56.33.

Cactus Stock Performance

Shares of WHD opened at $48.68 on Wednesday. The firm has a market capitalization of $3.89 billion, a P/E ratio of 20.28, a P/E/G ratio of 5.08 and a beta of 1.25. Cactus, Inc. has a 52 week low of $33.20 and a 52 week high of $59.25. The stock has a 50 day moving average price of $53.93 and a two-hundred day moving average price of $45.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.13 and a current ratio of 5.81.

Cactus (NYSE:WHD) last posted its earnings results on Wednesday, February 25th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. The company had revenue of $261.20 million for the quarter, compared to analyst estimates of $250.60 million. Cactus had a return on equity of 15.18% and a net margin of 15.39%.The company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter last year, the company earned $0.71 earnings per share. Equities analysts forecast that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.14 per share. The ex-dividend date is Monday, March 2nd. This represents a $0.56 annualized dividend and a yield of 1.2%. Cactus’s dividend payout ratio (DPR) is 23.33%.

Insiders Place Their Bets

In other Cactus news, President Joel Bender sold 63,963 shares of Cactus stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $50.74, for a total transaction of $3,245,482.62. Following the transaction, the president directly owned 242,838 shares of the company’s stock, valued at $12,321,600.12. The trade was a 20.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 16.84% of the company’s stock.

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.