Summit Global Investments Has $868,000 Stock Position in Cactus, Inc. (NYSE:WHD)

Summit Global Investments increased its stake in shares of Cactus, Inc. (NYSE:WHD) by 43.7% in the fourth quarter, Holdings Channel reports. The firm owned 19,121 shares of the company’s stock after buying an additional 5,814 shares during the quarter. Summit Global Investments’ holdings in Cactus were worth $868,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. NBC Securities Inc. bought a new position in Cactus during the third quarter worth about $36,000. GAMMA Investing LLC bought a new position in Cactus during the 4th quarter worth approximately $33,000. Signaturefd LLC boosted its stake in Cactus by 164.5% during the 3rd quarter. Signaturefd LLC now owns 857 shares of the company’s stock worth $43,000 after acquiring an additional 533 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Cactus during the third quarter valued at approximately $70,000. Finally, Headlands Technologies LLC bought a new stake in Cactus in the third quarter valued at approximately $134,000. 85.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Benchmark cut shares of Cactus from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Bank of America lifted their target price on Cactus from $40.00 to $43.00 and gave the stock an “underperform” rating in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $55.29.

Cactus Stock Down 1.3 %

Cactus stock opened at $50.65 on Friday. The company has a 50 day moving average of $49.20 and a 200-day moving average of $45.60. The company has a quick ratio of 2.00, a current ratio of 3.17 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a twelve month low of $31.36 and a twelve month high of $57.00. The stock has a market capitalization of $4.02 billion, a PE ratio of 20.18, a price-to-earnings-growth ratio of 9.11 and a beta of 1.95.

Cactus (NYSE:WHD) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. Cactus had a net margin of 14.46% and a return on equity of 22.97%. The business had revenue of $274.12 million for the quarter, compared to analysts’ expectations of $270.70 million. During the same period in the previous year, the firm posted $0.64 EPS. The firm’s revenue was up 20.0% compared to the same quarter last year. On average, equities research analysts anticipate that Cactus, Inc. will post 2.87 EPS for the current fiscal year.

Cactus Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Tuesday, May 28th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.95%. Cactus’s payout ratio is presently 19.12%.

Insiders Place Their Bets

In other news, EVP William D. Marsh sold 1,700 shares of Cactus stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $46.20, for a total value of $78,540.00. Following the sale, the executive vice president now directly owns 3,911 shares in the company, valued at $180,688.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Scott Bender sold 78,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $45.79, for a total transaction of $3,571,620.00. Following the completion of the transaction, the chief executive officer now directly owns 20 shares of the company’s stock, valued at $915.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William D. Marsh sold 1,700 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $46.20, for a total value of $78,540.00. Following the completion of the transaction, the executive vice president now owns 3,911 shares of the company’s stock, valued at $180,688.20. The disclosure for this sale can be found here. Insiders own 17.72% 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.