SG Americas Securities LLC Raises Stock Holdings in Cactus, Inc. $WHD

SG Americas Securities LLC boosted its position in Cactus, Inc. (NYSE:WHD) by 237.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,748 shares of the company’s stock after purchasing an additional 55,390 shares during the quarter. SG Americas Securities LLC’s holdings in Cactus were worth $3,730,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in WHD. EverSource Wealth Advisors LLC boosted its holdings in shares of Cactus by 67.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock valued at $25,000 after buying an additional 259 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of Cactus in the 3rd quarter worth about $33,000. Aster Capital Management DIFC Ltd grew its position in shares of Cactus by 73.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company’s stock worth $34,000 after buying an additional 314 shares during the period. Huntington National Bank increased its stake in shares of Cactus by 55.4% in the 3rd quarter. Huntington National Bank now owns 1,094 shares of the company’s stock worth $43,000 after acquiring an additional 390 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its stake in shares of Cactus by 113.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock worth $47,000 after acquiring an additional 543 shares in the last quarter. Institutional investors own 85.11% of the company’s stock.

Wall Street Analyst Weigh In

WHD has been the topic of several research reports. Piper Sandler boosted their price objective on shares of Cactus from $69.00 to $72.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Citigroup raised their target price 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 lifted their target price on shares of Cactus from $62.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Stifel Nicolaus reissued a “buy” rating and issued a $68.00 price target (up from $66.00) on shares of Cactus in a research report on Tuesday, June 16th. Finally, Wall Street Zen downgraded Cactus from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Cactus presently has an average rating of “Moderate Buy” and a consensus price target of $63.40.

Insider Activity at Cactus

In other news, Director Michael Y. Mcgovern sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $56.57, for a total value of $678,840.00. Following the transaction, the director owned 15,990 shares in the company, valued at approximately $904,554.30. This represents a 42.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Alan Semple sold 10,206 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $56.62, for a total transaction of $577,863.72. Following the sale, 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 SEC filing for this sale provides additional information. Corporate insiders own 12.91% of the company’s stock.

Cactus Price Performance

WHD opened at $49.70 on Tuesday. The stock has a 50-day moving average price of $56.86 and a 200-day moving average price of $53.17. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.61 and a quick ratio of 1.71. The firm has a market cap of $3.98 billion, a PE ratio of 46.88, a P/E/G ratio of 2.04 and a beta of 1.37. Cactus, Inc. has a 1 year low of $33.20 and a 1 year high of $64.30.

Cactus (NYSE:WHD) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Cactus had a net margin of 6.17% and a return on equity of 15.43%. The company had revenue of $388.35 million for the quarter, compared to analysts’ expectations of $380.42 million. During the same quarter in the previous year, the business posted $0.73 EPS. Cactus’s revenue was up 38.5% compared to the same quarter last year. Sell-side analysts predict that Cactus, Inc. will post 2.88 earnings per share for the current fiscal year.

Cactus Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 1st were issued a $0.14 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.56 annualized dividend and a yield of 1.1%. Cactus’s payout ratio is 52.83%.

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.