Cactus, Inc. $WHD Holdings Boosted by First Trust Advisors LP

First Trust Advisors LP raised its stake in Cactus, Inc. (NYSE:WHD) by 13.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,090,619 shares of the company’s stock after acquiring an additional 251,283 shares during the period. First Trust Advisors LP’s holdings in Cactus were worth $99,033,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Advisors Asset Management Inc. raised its position 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 worth $47,000 after purchasing an additional 543 shares during the period. AQR Capital Management LLC boosted its position in Cactus by 101.1% during the 1st quarter. AQR Capital Management LLC now owns 11,427 shares of the company’s stock valued at $524,000 after purchasing an additional 5,745 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Cactus by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,685 shares of the company’s stock valued at $1,819,000 after purchasing an additional 1,733 shares during the period. United Services Automobile Association bought a new position in Cactus during the 1st quarter worth $203,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Cactus by 26.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,931 shares of the company’s stock worth $10,400,000 after buying an additional 46,835 shares during the last quarter. 85.11% of the stock is owned by institutional investors.

Cactus Price Performance

Shares of Cactus stock opened at $55.00 on Friday. Cactus, Inc. has a 52 week low of $33.20 and a 52 week high of $64.30. The company has a current ratio of 2.61, a quick ratio of 1.71 and a debt-to-equity ratio of 0.01. The stock has a market cap of $4.41 billion, a PE ratio of 51.89, a price-to-earnings-growth ratio of 2.09 and a beta of 1.38. The company’s 50-day moving average price is $55.94 and its two-hundred day moving average price is $54.07.

Cactus (NYSE:WHD) last released its earnings results on Thursday, May 7th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Cactus had a net margin of 6.17% and a return on equity of 15.43%. The business had revenue of $388.35 million for the quarter, compared to the consensus estimate of $380.42 million. During the same period in the previous year, the firm earned $0.73 EPS. The business’s revenue for the quarter was up 38.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Cactus, Inc. will post 2.92 EPS for the current fiscal year.

Cactus Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 1st were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.56 dividend on an annualized basis and a yield of 1.0%. Cactus’s dividend payout ratio is currently 52.83%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus reissued a “buy” rating and set a $68.00 price target (up from $66.00) on shares of Cactus in a report on Tuesday, June 16th. Citigroup lifted their price objective on shares of Cactus from $65.00 to $67.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Weiss Ratings raised shares of Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Piper Sandler raised their price target on shares of Cactus from $72.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Finally, Barclays lifted their price target on Cactus from $62.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.60.

Insider Activity

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

Cactus Company 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.