Envestnet Asset Management Inc. grew its position in Cactus Inc (NYSE:WHD) by 22.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,911 shares of the company’s stock after purchasing an additional 6,366 shares during the period. Envestnet Asset Management Inc.’s holdings in Cactus were worth $720,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of WHD. Guggenheim Capital LLC grew its position in shares of Cactus by 10.5% in the first quarter. Guggenheim Capital LLC now owns 10,922 shares of the company’s stock valued at $127,000 after purchasing an additional 1,040 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Cactus by 1,825.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,309 shares of the company’s stock valued at $45,000 after purchasing an additional 1,241 shares during the last quarter. Swiss National Bank grew its position in shares of Cactus by 1.4% in the first quarter. Swiss National Bank now owns 91,400 shares of the company’s stock valued at $1,060,000 after purchasing an additional 1,300 shares during the last quarter. Advisor Group Holdings Inc. acquired a new position in shares of Cactus in the first quarter valued at approximately $26,000. Finally, Nikko Asset Management Americas Inc. grew its position in shares of Cactus by 4.0% in the first quarter. Nikko Asset Management Americas Inc. now owns 52,210 shares of the company’s stock valued at $606,000 after purchasing an additional 1,996 shares during the last quarter. Institutional investors own 63.90% of the company’s stock.
Several equities research analysts recently issued reports on the company. Piper Sandler cut their price target on Cactus from $30.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, April 15th. Bank of America upgraded Cactus from an “underperform” rating to a “neutral” rating and set a $21.00 price target for the company in a research note on Thursday, May 28th. Credit Suisse Group boosted their price target on Cactus from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday. Barclays cut Cactus from an “overweight” rating to an “equal weight” rating and set a $14.00 price target for the company. in a research note on Thursday, May 14th. They noted that the move was a valuation call. Finally, ValuEngine upgraded Cactus from a “sell” rating to a “hold” rating in a research note on Monday, May 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Cactus presently has an average rating of “Buy” and a consensus target price of $21.82.
Cactus (NYSE:WHD) last released its earnings results on Wednesday, July 29th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.09. Cactus had a return on equity of 14.47% and a net margin of 11.96%. The firm had revenue of $66.55 million during the quarter, compared to analysts’ expectations of $60.29 million. During the same period in the prior year, the company earned $0.52 earnings per share. The company’s quarterly revenue was down 60.5% on a year-over-year basis. As a group, sell-side analysts expect that Cactus Inc will post 0.32 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Monday, August 31st will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Friday, August 28th. Cactus’s payout ratio is 19.35%.
Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment. The company's principal products include Cactus SafeDrill wellhead systems, frac stacks, zipper manifolds, and production trees. It also provides field services, such as 24-hour service crews to assist with the installation, maintenance, and safe handling of the wellhead and pressure control equipment, as well as repair services for equipment that it sells or rents.
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