Cactus, Inc. (NYSE:WHD) Position Cut by Viking Fund Management LLC

Viking Fund Management LLC lowered its holdings in shares of Cactus, Inc. (NYSE:WHD) by 41.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,000 shares of the company’s stock after selling 25,000 shares during the period. Viking Fund Management LLC’s holdings in Cactus were worth $1,753,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in WHD. FMR LLC raised its stake in shares of Cactus by 181.5% during the third quarter. FMR LLC now owns 1,898,398 shares of the company’s stock valued at $95,319,000 after purchasing an additional 1,224,079 shares in the last quarter. First Trust Advisors LP raised its position in shares of Cactus by 595.4% during the 4th quarter. First Trust Advisors LP now owns 683,051 shares of the company’s stock worth $31,011,000 after buying an additional 584,831 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its stake in shares of Cactus by 3,350.2% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 513,417 shares of the company’s stock worth $23,309,000 after acquiring an additional 498,536 shares during the period. Norges Bank bought a new position in shares of Cactus in the fourth quarter valued at approximately $20,204,000. Finally, Vanguard Group Inc. increased its stake in shares of Cactus by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 6,518,664 shares of the company’s stock valued at $295,947,000 after acquiring an additional 148,355 shares during the period. Institutional investors and hedge funds own 85.11% of the company’s stock.

Insiders Place Their Bets

In related news, EVP William D. Marsh sold 2,059 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $51.03, for a total value of $105,070.77. Following the completion of the transaction, the executive vice president now owns 1,852 shares in the company, valued at approximately $94,507.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP William D. Marsh sold 2,059 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $51.03, for a total transaction of $105,070.77. Following the completion of the sale, 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 legal filing with the SEC, which is available at this link. Also, President Joel Bender sold 201,585 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $52.03, for a total value of $10,488,467.55. Following the completion of the transaction, the president now owns 555,001 shares in the company, valued at $28,876,702.03. The disclosure for this sale can be found here. Insiders have sold a total of 602,059 shares of company stock valued at $30,948,949 in the last 90 days. 17.72% of the stock is currently owned by insiders.

Cactus Stock Performance

Cactus stock traded up $0.03 on Thursday, hitting $52.01. The company’s stock had a trading volume of 681,751 shares, compared to its average volume of 789,352. Cactus, Inc. has a one year low of $37.58 and a one year high of $57.00. The firm has a market cap of $4.14 billion, a P/E ratio of 20.68, a price-to-earnings-growth ratio of 1.62 and a beta of 1.94. The company has a quick ratio of 2.17, a current ratio of 3.24 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average price of $50.89 and a 200-day moving average price of $47.24.

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

Cactus Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Tuesday, May 28th were issued a dividend of $0.12 per share. The ex-dividend date was Tuesday, May 28th. This represents a $0.48 dividend on an annualized basis and a yield of 0.92%. Cactus’s dividend payout ratio is 19.12%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on WHD shares. Bank of America increased their price target on Cactus from $40.00 to $43.00 and gave the company an “underperform” rating in a research note on Monday, April 15th. Benchmark reiterated a “hold” rating on shares of Cactus in a research report on Monday, May 6th. Johnson Rice lowered shares of Cactus from a “buy” rating to an “accumulate” rating in a research report on Friday, May 31st. Finally, Barclays increased their price objective on Cactus from $55.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Cactus has an average rating of “Hold” and a consensus target price of $55.14.

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.