Livforsakringsbolaget Skandia Omsesidigt Acquires New Position in Cactus, Inc. (NYSE:WHD)

Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Cactus, Inc. (NYSE:WHD) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 13,000 shares of the company’s stock, valued at approximately $775,000.

Several other large investors have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its position in Cactus by 41.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 323,485 shares of the company’s stock valued at $16,203,000 after buying an additional 94,704 shares during the period. Norden Group LLC increased its stake in Cactus by 1,182.8% in the 1st quarter. Norden Group LLC now owns 117,252 shares of the company’s stock worth $5,873,000 after purchasing an additional 108,112 shares during the period. FCF Advisors LLC bought a new stake in Cactus in the first quarter valued at approximately $991,000. Congress Asset Management Co. MA boosted its stake in shares of Cactus by 23.8% during the fourth quarter. Congress Asset Management Co. MA now owns 127,640 shares of the company’s stock valued at $5,795,000 after purchasing an additional 24,517 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Cactus by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 6,518,664 shares of the company’s stock worth $295,947,000 after purchasing an additional 148,355 shares during the last quarter. 85.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Barclays increased their price target on shares of Cactus from $56.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Stifel Nicolaus cut their target price on Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a research note on Friday. Piper Sandler lowered their price target on Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Finally, Citigroup lifted their price objective on Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $55.40.

Cactus Price Performance

Shares of WHD stock opened at $62.97 on Friday. The business’s fifty day moving average is $59.53 and its 200 day moving average is $54.94. The company has a quick ratio of 2.59, a current ratio of 3.75 and a debt-to-equity ratio of 0.01. The stock has a market cap of $5.01 billion, a price-to-earnings ratio of 25.09, a PEG ratio of 2.29 and a beta of 1.95. Cactus, Inc. has a twelve month low of $37.58 and a twelve month high of $64.96.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.09. Cactus had a net margin of 16.88% and a return on equity of 21.22%. The company had revenue of $290.39 million during the quarter, compared to analyst estimates of $276.76 million. During the same period last year, the business earned $0.84 EPS. Cactus’s quarterly revenue was down 5.0% compared to the same quarter last year. Research analysts expect that Cactus, Inc. will post 3.04 EPS for the current fiscal year.

Cactus Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were paid a $0.13 dividend. The ex-dividend date was Monday, August 26th. This represents a $0.52 annualized dividend and a dividend yield of 0.83%. This is an increase from Cactus’s previous quarterly dividend of $0.12. Cactus’s dividend payout ratio is presently 20.72%.

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.