Quantbot Technologies LP Takes Position in Cactus, Inc. $WHD

Quantbot Technologies LP bought a new position in Cactus, Inc. (NYSE:WHD) during the second quarter, Holdings Channel reports. The firm bought 14,627 shares of the company’s stock, valued at approximately $639,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WHD. Advisors Asset Management Inc. lifted its holdings in Cactus by 113.8% in the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock valued at $47,000 after acquiring an additional 543 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Cactus during the 1st quarter worth approximately $57,000. CWM LLC grew its stake in shares of Cactus by 131.7% during the 2nd quarter. CWM LLC now owns 2,966 shares of the company’s stock worth $130,000 after purchasing an additional 1,686 shares during the period. Central Pacific Bank Trust Division increased its holdings in shares of Cactus by 21.4% during the 2nd quarter. Central Pacific Bank Trust Division now owns 4,352 shares of the company’s stock valued at $190,000 after purchasing an additional 766 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Cactus by 26.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,438 shares of the company’s stock valued at $194,000 after purchasing an additional 915 shares during the period. 85.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the stock. Barclays dropped their price target on shares of Cactus from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Bank of America upgraded shares of Cactus from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $39.00 to $40.00 in a research report on Wednesday, October 29th. Wall Street Zen upgraded Cactus from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Zacks Research upgraded Cactus from a “strong sell” rating to a “hold” rating in a research note on Monday, November 3rd. Finally, Stifel Nicolaus upped their price target on Cactus from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $47.75.

Cactus Stock Performance

WHD opened at $46.94 on Thursday. The firm’s fifty day simple moving average is $40.76 and its two-hundred day simple moving average is $42.03. Cactus, Inc. has a 52-week low of $33.20 and a 52-week high of $65.75. The company has a market cap of $3.75 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 4.93 and a beta of 1.29. The company has a quick ratio of 3.74, a current ratio of 5.28 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last released its earnings results on Wednesday, October 29th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.09. The business had revenue of $263.95 million during the quarter, compared to analysts’ expectations of $253.89 million. Cactus had a net margin of 15.86% and a return on equity of 16.02%. The company’s quarterly revenue was down 10.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.74 earnings per share. Equities analysts anticipate that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.2%. Cactus’s dividend payout ratio is presently 22.31%.

About Cactus

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.