Vest Financial LLC Buys 5,104 Shares of Cactus, Inc. (NYSE:WHD)

Vest Financial LLC boosted its stake in shares of Cactus, Inc. (NYSE:WHD) by 29.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,571 shares of the company’s stock after purchasing an additional 5,104 shares during the quarter. Vest Financial LLC’s holdings in Cactus were worth $1,190,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in shares of Cactus by 27.5% in the first quarter. GAMMA Investing LLC now owns 1,005 shares of the company’s stock valued at $50,000 after acquiring an additional 217 shares during the period. Gilbert & Cook Inc. raised its stake in Cactus by 2.6% in the first quarter. Gilbert & Cook Inc. now owns 14,016 shares of the company’s stock valued at $702,000 after purchasing an additional 352 shares in the last quarter. Bridge City Capital LLC raised its stake in Cactus by 0.8% in the first quarter. Bridge City Capital LLC now owns 69,590 shares of the company’s stock valued at $3,486,000 after purchasing an additional 534 shares in the last quarter. Arizona State Retirement System raised its stake in Cactus by 3.3% in the second quarter. Arizona State Retirement System now owns 18,341 shares of the company’s stock valued at $967,000 after purchasing an additional 585 shares in the last quarter. Finally, Principal Securities Inc. acquired a new position in Cactus in the fourth quarter valued at about $30,000. 85.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

WHD has been the subject of a number of analyst reports. Johnson Rice downgraded Cactus from a “buy” rating to an “accumulate” rating in a research note on Friday, May 31st. Citigroup boosted their price target on Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Piper Sandler lowered their target price on Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Finally, Barclays boosted their target price on Cactus from $56.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $55.00.

Cactus Stock Performance

Cactus stock opened at $55.75 on Friday. The business has a 50 day moving average of $58.02 and a 200-day moving average of $52.80. Cactus, Inc. has a 1 year low of $37.58 and a 1 year high of $64.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.75 and a quick ratio of 2.59. The company has a market capitalization of $4.44 billion, a P/E ratio of 22.21, a P/E/G ratio of 2.00 and a beta of 1.95.

Cactus (NYSE:WHD) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.09. Cactus had a return on equity of 21.22% and a net margin of 16.88%. The company had revenue of $290.39 million during the quarter, compared to the consensus estimate of $276.76 million. During the same quarter in the prior year, the firm posted $0.84 earnings per share. The firm’s revenue was down 5.0% compared to the same quarter last year. On average, equities research analysts predict that Cactus, Inc. will post 3.03 earnings per share for the current year.

Cactus Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were issued a $0.13 dividend. The ex-dividend date of this dividend was Monday, August 26th. This is a boost from Cactus’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 0.93%. Cactus’s dividend payout ratio is presently 20.72%.

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.