Public Sector Pension Investment Board Grows Stock Holdings in Cactus, Inc. $WHD

Public Sector Pension Investment Board grew its stake in Cactus, Inc. (NYSE:WHD) by 14.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 267,466 shares of the company’s stock after purchasing an additional 34,101 shares during the period. Public Sector Pension Investment Board owned approximately 0.34% of Cactus worth $10,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vest Financial LLC raised its position in shares of Cactus by 35.3% during the 3rd quarter. Vest Financial LLC now owns 107,899 shares of the company’s stock valued at $4,259,000 after buying an additional 28,139 shares during the period. Hudson Edge Investment Partners Inc. increased its stake in Cactus by 249.2% during the third quarter. Hudson Edge Investment Partners Inc. now owns 28,388 shares of the company’s stock worth $1,120,000 after acquiring an additional 20,258 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in Cactus during the third quarter worth $1,872,000. AGF Management Ltd. purchased a new stake in Cactus in the second quarter valued at $672,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Cactus in the 3rd quarter valued at $525,000. Institutional investors and hedge funds own 85.11% of the company’s stock.

Cactus Trading Down 0.1%

NYSE WHD opened at $56.99 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.74 and a current ratio of 5.28. The firm has a market cap of $4.55 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 5.82 and a beta of 1.27. The firm has a 50 day simple moving average of $51.04 and a 200-day simple moving average of $44.20. Cactus, Inc. has a one year low of $33.20 and a one year high of $61.38.

Cactus Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Monday, March 2nd will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.0%. Cactus’s dividend payout ratio is currently 22.31%.

Wall Street Analysts Forecast Growth

WHD has been the subject of a number of recent analyst reports. Bank of America raised Cactus from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $39.00 to $40.00 in a research report on Wednesday, October 29th. Citigroup upgraded shares of Cactus from a “neutral” rating to a “buy” rating and lifted their price target for the company from $45.00 to $55.00 in a research report on Thursday, December 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Cactus in a research note on Monday, December 29th. Barclays increased their price objective on shares of Cactus from $51.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 17th. Finally, Stifel Nicolaus boosted their target price on Cactus from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Cactus currently has an average rating of “Hold” and a consensus target price of $50.20.

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.