Cactus, Inc. (NYSE:WHD) Position Lifted by Congress Asset Management Co. MA

Congress Asset Management Co. MA raised its stake in Cactus, Inc. (NYSE:WHD) by 36.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 174,677 shares of the company’s stock after purchasing an additional 47,037 shares during the period. Congress Asset Management Co. MA owned 0.22% of Cactus worth $8,750,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Principal Securities Inc. acquired a new position in Cactus in the fourth quarter worth about $30,000. GAMMA Investing LLC bought a new stake in shares of Cactus in the 4th quarter valued at approximately $33,000. TFO Wealth Partners LLC increased its holdings in shares of Cactus by 221,300.0% in the 4th quarter. TFO Wealth Partners LLC now owns 2,214 shares of the company’s stock valued at $101,000 after acquiring an additional 2,213 shares during the last quarter. Vest Financial LLC acquired a new stake in shares of Cactus during the 4th quarter valued at approximately $246,000. Finally, Dfpg Investments LLC lifted its stake in Cactus by 14.5% during the fourth quarter. Dfpg Investments LLC now owns 5,676 shares of the company’s stock worth $254,000 after purchasing an additional 718 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WHD. Benchmark reiterated a “hold” rating on shares of Cactus in a research note on Monday, May 6th. Bank of America boosted their price objective on shares of Cactus from $40.00 to $43.00 and gave the company an “underperform” rating in a research report on Monday, April 15th. Barclays raised their target price on shares of Cactus from $55.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. Finally, Johnson Rice downgraded Cactus from a “buy” rating to an “accumulate” rating in a research note on Friday, May 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Cactus currently has an average rating of “Hold” and an average target price of $55.14.

Insider Activity at Cactus

In other Cactus news, CEO Scott Bender sold 39,957 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $51.01, for a total transaction of $2,038,206.57. Following the sale, the chief executive officer now directly owns 400,234 shares in the company, valued at approximately $20,415,936.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP William D. Marsh sold 2,059 shares of Cactus stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $51.03, for a total transaction of $105,070.77. Following the transaction, the executive vice president now directly owns 1,852 shares of the company’s stock, valued at $94,507.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Scott Bender sold 39,957 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $51.01, for a total transaction of $2,038,206.57. Following the completion of the sale, the chief executive officer now directly owns 400,234 shares of the company’s stock, valued at $20,415,936.34. The disclosure for this sale can be found here. Insiders sold 602,059 shares of company stock worth $30,948,949 in the last 90 days. Corporate insiders own 17.72% of the company’s stock.

Cactus Stock Performance

Cactus stock traded down $0.56 during midday trading on Friday, reaching $50.04. 17,450,063 shares of the stock traded hands, compared to its average volume of 904,739. The firm has a fifty day moving average price of $50.77 and a two-hundred day moving average price of $47.01. Cactus, Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $57.00. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 1.59 and a beta of 1.94. The company has a current ratio of 3.24, a quick ratio of 2.17 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The business had revenue of $274.12 million during the quarter, compared to analyst estimates of $270.70 million. Cactus had a return on equity of 22.46% and a net margin of 14.46%. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 EPS. On average, equities research analysts forecast that Cactus, Inc. will post 2.94 earnings per share for the current year.

Cactus Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Tuesday, May 28th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date was Tuesday, May 28th. Cactus’s dividend payout ratio is currently 19.12%.

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.