Energy Income Partners LLC Has $14.25 Million Stock Holdings in Cactus, Inc. $WHD

Energy Income Partners LLC lifted its position in Cactus, Inc. (NYSE:WHD) by 48.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 300,759 shares of the company’s stock after purchasing an additional 98,124 shares during the quarter. Energy Income Partners LLC’s holdings in Cactus were worth $14,247,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in WHD. Jennison Associates LLC increased its position 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 worth $81,178,000 after purchasing an additional 1,146,766 shares in the last quarter. Wellington Management Group LLP boosted its position in Cactus by 52.8% in the third quarter. Wellington Management Group LLP now owns 3,304,595 shares of the company’s stock valued at $130,432,000 after buying an additional 1,141,249 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new position in Cactus in the first quarter valued at about $41,895,000. Balyasny Asset Management L.P. bought a new stake in Cactus during the second quarter worth about $30,648,000. Finally, Wasatch Advisors LP grew its stake in Cactus by 79.0% during the first quarter. Wasatch Advisors LP now owns 1,349,420 shares of the company’s stock worth $63,922,000 after buying an additional 595,562 shares during the last quarter. Institutional investors own 85.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Citigroup raised their price objective on shares of Cactus from $65.00 to $67.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Stifel Nicolaus reissued a “buy” rating and issued a $68.00 target price (up from $66.00) on shares of Cactus in a report on Tuesday, June 16th. Barclays increased their price target on Cactus from $62.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Weiss Ratings raised Cactus from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Finally, Piper Sandler lifted their price objective on Cactus from $72.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Cactus has a consensus rating of “Moderate Buy” and an average price target of $63.60.

Insider Buying and Selling

In other Cactus news, Director Michael Y. Mcgovern sold 12,000 shares of the company’s stock in a transaction on 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 owned 15,990 shares of the company’s stock, valued at approximately $904,554.30. This represents a 42.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alan Semple sold 10,206 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was 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. This represents a 25.74% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 12.91% of the company’s stock.

Cactus Stock Down 2.3%

Shares of NYSE:WHD opened at $53.86 on Tuesday. Cactus, Inc. has a 12 month low of $33.20 and a 12 month high of $64.30. The company’s 50-day moving average price is $55.81 and its two-hundred day moving average price is $54.13. 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 firm has a market cap of $4.32 billion, a P/E ratio of 50.81, a P/E/G ratio of 2.08 and a beta of 1.38.

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 the consensus estimate of $0.65 by $0.05. Cactus had a net margin of 6.17% and a return on equity of 15.43%. The firm had revenue of $388.35 million during the quarter, compared to analysts’ expectations of $380.42 million. During the same quarter last year, the company posted $0.73 EPS. The company’s quarterly revenue was up 38.5% compared to the same quarter last year. As a group, research analysts forecast that Cactus, Inc. will post 2.92 EPS for the current fiscal year.

Cactus Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 1st were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, June 1st. Cactus’s dividend payout ratio is 52.83%.

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.