First Trust Advisors LP Has $61.85 Million Stock Position in Cactus, Inc. $WHD

First Trust Advisors LP increased its holdings in shares of Cactus, Inc. (NYSE:WHD) by 16.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,566,884 shares of the company’s stock after buying an additional 217,016 shares during the quarter. First Trust Advisors LP owned 1.96% of Cactus worth $61,845,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Salomon & Ludwin LLC acquired a new position in Cactus during the third quarter worth about $25,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Cactus by 67.6% in the third quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock worth $25,000 after acquiring an additional 259 shares during the last quarter. Huntington National Bank boosted its stake in shares of Cactus by 55.4% in the 3rd quarter. Huntington National Bank now owns 1,094 shares of the company’s stock valued at $43,000 after purchasing an additional 390 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Cactus by 113.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock valued at $47,000 after purchasing an additional 543 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of Cactus by 51.1% during the 3rd quarter. CWM LLC now owns 4,483 shares of the company’s stock valued at $177,000 after purchasing an additional 1,517 shares during the last quarter. 85.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cactus

In other Cactus news, President Joel Bender sold 63,963 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $50.74, for a total value of $3,245,482.62. Following the sale, the president owned 242,838 shares in the company, valued at approximately $12,321,600.12. The trade was a 20.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 16.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on WHD shares. Zacks Research cut shares of Cactus from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Barclays boosted their target price on shares of Cactus from $56.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Piper Sandler initiated coverage on shares of Cactus in a report on Tuesday, February 24th. They set an “overweight” rating and a $73.00 price target for the company. Citigroup increased their price target on Cactus from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Cactus in a research report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.33.

Cactus Trading Down 5.8%

Shares of NYSE WHD opened at $48.68 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.13 and a current ratio of 5.81. Cactus, Inc. has a 52-week low of $33.20 and a 52-week high of $59.25. The firm has a 50 day moving average price of $53.93 and a two-hundred day moving average price of $45.92. The stock has a market cap of $3.89 billion, a P/E ratio of 20.28, a price-to-earnings-growth ratio of 5.08 and a beta of 1.25.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. Cactus had a net margin of 15.39% and a return on equity of 15.18%. The company had revenue of $261.20 million for the quarter, compared to analyst estimates of $250.60 million. During the same quarter in the previous year, the business earned $0.71 earnings per share. Cactus’s revenue was down 4.0% compared to the same quarter last year. As a group, equities analysts forecast that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.56 annualized dividend and a yield of 1.2%. Cactus’s payout ratio is presently 23.33%.

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.