Capital Research Global Investors Grows Stock Position in Cactus, Inc. $WHD

Capital Research Global Investors raised its stake in shares of Cactus, Inc. (NYSE:WHD) by 33.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 659,779 shares of the company’s stock after buying an additional 164,137 shares during the period. Capital Research Global Investors’ holdings in Cactus were worth $30,139,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Capital International Investors raised its stake in shares of Cactus by 27.0% during the 4th quarter. Capital International Investors now owns 2,343,731 shares of the company’s stock valued at $107,062,000 after buying an additional 498,210 shares during the last quarter. Vestcor Inc increased its stake in shares of Cactus by 20.9% in the 4th quarter. Vestcor Inc now owns 13,332 shares of the company’s stock valued at $609,000 after purchasing an additional 2,304 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Cactus by 3.9% in the 4th quarter. Bank of New York Mellon Corp now owns 732,758 shares of the company’s stock valued at $33,472,000 after purchasing an additional 27,439 shares in the last quarter. Natixis Advisors LLC increased its stake in shares of Cactus by 25.4% in the 4th quarter. Natixis Advisors LLC now owns 27,330 shares of the company’s stock valued at $1,248,000 after purchasing an additional 5,531 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Cactus in the 4th quarter valued at about $2,029,000. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Cactus Trading Down 2.4%

WHD stock opened at $57.98 on Wednesday. The company has a current ratio of 2.61, a quick ratio of 1.71 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a 12-month low of $33.20 and a 12-month high of $64.30. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 54.70, a PEG ratio of 2.34 and a beta of 1.37. The business’s 50-day moving average is $55.69 and its 200 day moving average is $52.03.

Cactus (NYSE:WHD) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.05. Cactus had a return on equity of 15.43% and a net margin of 6.17%.The company had revenue of $388.35 million for the quarter, compared to analysts’ expectations of $380.42 million. During the same period in the previous year, the firm posted $0.73 EPS. Cactus’s revenue was up 38.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Cactus, Inc. will post 2.86 EPS for the current fiscal year.

Cactus Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Monday, June 1st will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.0%. The ex-dividend date is Monday, June 1st. Cactus’s payout ratio is presently 52.83%.

Insider Activity

In related news, Director Alan Semple sold 10,206 shares of Cactus stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $56.62, for a total value of $577,863.72. Following the sale, the director directly owned 29,444 shares in the company, valued at approximately $1,667,119.28. The trade was a 25.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael Y. Mcgovern sold 12,000 shares of Cactus stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $56.57, for a total value of $678,840.00. Following the completion of the sale, the director owned 15,990 shares in the company, valued at approximately $904,554.30. The trade was a 42.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 12.91% of the company’s stock.

Analyst Upgrades and Downgrades

WHD has been the subject of several recent analyst reports. Stifel Nicolaus lifted their price target on Cactus from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Wall Street Zen lowered Cactus from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Piper Sandler lifted their price target on Cactus from $69.00 to $72.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Weiss Ratings lowered Cactus from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 27th. Finally, Citigroup lifted their price target on Cactus from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $62.60.

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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.