Wasatch Advisors LP Has $52.97 Million Holdings in Cactus, Inc. $WHD

Wasatch Advisors LP lessened its holdings in Cactus, Inc. (NYSE:WHD) by 23.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,033,963 shares of the company’s stock after selling 315,457 shares during the quarter. Wasatch Advisors LP owned 1.29% of Cactus worth $52,970,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in WHD. Aster Capital Management DIFC Ltd grew its position in Cactus by 73.4% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company’s stock valued at $34,000 after purchasing an additional 314 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in Cactus during the 3rd quarter worth about $33,000. Advisors Asset Management Inc. lifted its position in Cactus by 113.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock worth $47,000 after buying an additional 543 shares in the last quarter. Harbor Investment Advisory LLC bought a new stake in Cactus during the 2nd quarter worth about $58,000. Finally, Global Retirement Partners LLC boosted its stake in shares of Cactus by 39,200.0% during the 4th quarter. Global Retirement Partners LLC now owns 1,179 shares of the company’s stock worth $54,000 after buying an additional 1,176 shares during the last quarter. Institutional investors own 85.11% of the company’s stock.

Insiders Place Their Bets

In other Cactus news, CEO Stephen Tadlock sold 38,455 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $63.80, for a total value of $2,453,429.00. Following the sale, the chief executive officer owned 43,178 shares in the company, valued at $2,754,756.40. This represents a 47.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven Bender sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $67.65, for a total value of $1,691,250.00. Following the completion of the sale, the chief executive officer owned 99,241 shares in the company, valued at $6,713,653.65. This represents a 20.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 263,455 shares of company stock worth $16,261,764 in the last three months. 12.91% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WHD. Weiss Ratings upgraded Cactus from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Barclays upped their target price on Cactus from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Stifel Nicolaus increased their price target on Cactus from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Citigroup raised their price target on Cactus from $65.00 to $67.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Finally, Wall Street Zen raised Cactus from a “hold” rating to a “buy” rating in a research report on Saturday. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $65.20.

Cactus Stock Performance

Shares of WHD stock opened at $71.99 on Wednesday. The stock has a market cap of $5.77 billion, a P/E ratio of 61.53, a P/E/G ratio of 2.55 and a beta of 1.36. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.59 and a quick ratio of 1.81. The company has a fifty day moving average price of $56.64 and a two-hundred day moving average price of $55.06. Cactus, Inc. has a one year low of $33.20 and a one year high of $72.69.

Cactus (NYSE:WHD) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.29. The company had revenue of $449.53 million for the quarter, compared to analyst estimates of $400.82 million. Cactus had a net margin of 6.01% and a return on equity of 16.66%. Cactus’s revenue for the quarter was up 64.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 EPS. As a group, equities analysts predict that Cactus, Inc. will post 3.07 EPS for the current year.

Cactus Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 31st will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, August 31st. This is an increase from Cactus’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a yield of 0.8%. Cactus’s dividend payout ratio is 47.86%.

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.