Cactus, Inc. $WHD Holdings Increased by Riverbridge Partners LLC

Riverbridge Partners LLC raised its stake in shares of Cactus, Inc. (NYSE:WHD) by 30.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 200,252 shares of the company’s stock after purchasing an additional 47,285 shares during the quarter. Riverbridge Partners LLC’s holdings in Cactus were worth $12,460,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WHD. First Trust Advisors LP lifted its position in shares of Cactus by 13.7% in the 1st quarter. First Trust Advisors LP now owns 2,090,619 shares of the company’s stock worth $99,033,000 after purchasing an additional 251,283 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Cactus by 3.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,821,142 shares of the company’s stock valued at $86,266,000 after purchasing an additional 53,576 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Cactus by 202.3% during the 1st quarter. Jennison Associates LLC now owns 1,713,701 shares of the company’s stock valued at $81,178,000 after purchasing an additional 1,146,766 shares in the last quarter. Encompass Capital Advisors LLC purchased a new position in shares of Cactus during the first quarter valued at about $36,262,000. Finally, Bank of America Corp DE increased its position in shares of Cactus by 34.8% during the first quarter. Bank of America Corp DE now owns 659,889 shares of the company’s stock valued at $31,259,000 after buying an additional 170,534 shares during the period. 85.11% of the stock is currently owned by institutional investors.

Insider Transactions at Cactus

In other Cactus news, President Joel Bender sold 100,000 shares of Cactus stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $70.37, for a total value of $7,037,000.00. Following the completion of the transaction, the president directly owned 41,519 shares of the company’s stock, valued at approximately $2,921,692.03. The trade was a 70.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Scott Bender sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $63.91, for a total transaction of $6,391,000.00. Following the completion of the transaction, the chief executive officer owned 120,527 shares in the company, valued at approximately $7,702,880.57. This represents a 45.35% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 300,000 shares of company stock valued at $19,625,000. 12.91% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus increased their price target on shares of Cactus from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Wall Street Zen cut Cactus from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Citigroup lifted their price objective on Cactus from $73.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, November 3rd. Piper Sandler upped their target price on Cactus from $75.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, November 3rd. Finally, Barclays increased their target price on Cactus from $74.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, October 15th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Cactus currently has a consensus rating of “Moderate Buy” and an average price target of $74.75.

Cactus Price Performance

Shares of NYSE:WHD opened at $59.16 on Wednesday. Cactus, Inc. has a 1-year low of $39.16 and a 1-year high of $74.07. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.06 and a quick ratio of 2.10. The business has a fifty day moving average price of $64.61 and a 200-day moving average price of $58.55. The company has a market capitalization of $4.74 billion, a PE ratio of 41.08, a PEG ratio of 1.55 and a beta of 1.38.

Cactus (NYSE:WHD) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.19. The firm had revenue of $430.89 million during the quarter, compared to analyst estimates of $437.94 million. Cactus had a return on equity of 17.93% and a net margin of 6.69%. Cactus’s quarterly revenue was up 63.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.67 EPS. As a group, equities analysts expect that Cactus, Inc. will post 3.22 EPS for the current fiscal year.

Cactus Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Monday, November 30th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Monday, November 30th. Cactus’s dividend payout ratio (DPR) is currently 41.67%.

About Cactus

Cactus, Inc. designs, manufactures, sells and rents wellhead and pressure-control equipment used in oil and natural gas drilling and production. Its products include wellhead systems, frac trees and other equipment that help control pressure and manage the flow of fluids at the wellsite. The company also provides field services, including equipment installation, maintenance and support. Through its Spoolable Technologies business, Cactus offers flexible, spoolable pipe products for energy and other industrial applications.