Louisiana State Employees Retirement System Takes $1.45 Million Position in Cactus, Inc. $WHD

Louisiana State Employees Retirement System bought a new stake in Cactus, Inc. (NYSE:WHD) in the first quarter, Holdings Channel reports. The institutional investor bought 30,500 shares of the company’s stock, valued at approximately $1,445,000.

A number of other large investors have also modified their holdings of WHD. EverSource Wealth Advisors LLC lifted its position in Cactus by 67.6% in the third quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock worth $25,000 after purchasing an additional 259 shares during the period. Aster Capital Management DIFC Ltd increased its holdings in Cactus by 73.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company’s stock valued at $34,000 after buying an additional 314 shares during the period. Johnson Financial Group Inc. bought a new stake in Cactus in the 3rd quarter valued at $33,000. Advisors Asset Management Inc. raised its stake in shares of Cactus by 113.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock valued at $47,000 after buying an additional 543 shares in the last quarter. Finally, Huntington National Bank raised its stake in shares of Cactus by 55.4% in the 3rd quarter. Huntington National Bank now owns 1,094 shares of the company’s stock valued at $43,000 after buying an additional 390 shares in the last quarter. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Cactus news, Director Alan Semple sold 10,206 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $56.62, for a total transaction of $577,863.72. Following the sale, the director directly owned 29,444 shares of the company’s stock, valued at approximately $1,667,119.28. This represents a 25.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Y. Mcgovern sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $56.57, for a total transaction of $678,840.00. Following the sale, the director directly owned 15,990 shares of the company’s stock, valued at approximately $904,554.30. The trade was a 42.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 12.91% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WHD. Stifel Nicolaus reiterated a “buy” rating and set a $68.00 target price (up from $66.00) on shares of Cactus in a research report on Tuesday, June 16th. Wall Street Zen lowered shares of Cactus from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Piper Sandler raised their price target on shares of Cactus from $69.00 to $72.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Citigroup raised their price target on shares of Cactus from $65.00 to $67.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Finally, Barclays lifted their price objective on Cactus from $62.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Cactus currently has a consensus rating of “Moderate Buy” and an average target price of $63.40.

Cactus Stock Up 3.3%

Shares of NYSE WHD opened at $50.38 on Friday. The stock has a market cap of $4.04 billion, a PE ratio of 47.53, a PEG ratio of 1.91 and a beta of 1.38. The business has a fifty day moving average of $56.69 and a two-hundred day moving average of $53.24. Cactus, Inc. has a 52-week low of $33.20 and a 52-week high of $64.30. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.71 and a current ratio of 2.61.

Cactus (NYSE:WHD) last posted its earnings results on Thursday, May 7th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. Cactus had a net margin of 6.17% and a return on equity of 15.43%. The business had revenue of $388.35 million for the quarter, compared to analyst estimates of $380.42 million. During the same quarter in the prior year, the firm earned $0.73 EPS. The firm’s quarterly revenue was up 38.5% compared to the same quarter last year. As a group, equities research analysts expect that Cactus, Inc. will post 2.88 earnings per share for the current fiscal year.

Cactus Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 1st were given a $0.14 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. Cactus’s payout ratio is 52.83%.

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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.