Thrivent Financial for Lutherans Increases Stock Position in Cactus, Inc. (NYSE:WHD)

Thrivent Financial for Lutherans raised its position in Cactus, Inc. (NYSE:WHD) by 96.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 102,695 shares of the company’s stock after acquiring an additional 50,489 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.13% of Cactus worth $5,994,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bridgewater Associates LP purchased a new position in Cactus during the 3rd quarter valued at about $9,501,000. Principal Financial Group Inc. grew its position in shares of Cactus by 4.4% in the 4th quarter. Principal Financial Group Inc. now owns 357,313 shares of the company’s stock worth $20,853,000 after buying an additional 15,035 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Cactus by 1.7% during the third quarter. JPMorgan Chase & Co. now owns 3,102,984 shares of the company’s stock valued at $185,155,000 after buying an additional 52,085 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Cactus by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 701,485 shares of the company’s stock valued at $40,939,000 after acquiring an additional 13,669 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Cactus in the fourth quarter worth $16,377,000. 85.11% of the stock is owned by institutional investors.

Cactus Stock Performance

Shares of Cactus stock opened at $45.98 on Monday. Cactus, Inc. has a 12 month low of $43.27 and a 12 month high of $70.01. The firm has a market capitalization of $3.66 billion, a P/E ratio of 16.31, a P/E/G ratio of 5.13 and a beta of 2.05. The company has a current ratio of 3.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $56.18 and a two-hundred day simple moving average of $59.74.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.01). The business had revenue of $272.12 million for the quarter, compared to analysts’ expectations of $277.59 million. Cactus had a net margin of 16.57% and a return on equity of 20.24%. On average, equities analysts forecast that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 3rd were paid a $0.13 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.52 annualized dividend and a dividend yield of 1.13%. Cactus’s payout ratio is currently 18.84%.

Wall Street Analyst Weigh In

Separately, Barclays decreased their price objective on shares of Cactus from $61.00 to $54.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $55.00.

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.