Fideuram Intesa Sanpaolo Private Banking S.P.A. Increases Stock Position in Cactus, Inc. $WHD

Fideuram Intesa Sanpaolo Private Banking S.P.A. boosted its position in shares of Cactus, Inc. (NYSE:WHD) by 62.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,920 shares of the company’s stock after purchasing an additional 27,986 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Cactus were worth $3,454,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in Cactus by 67.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock worth $25,000 after buying an additional 259 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Cactus during the third quarter valued at about $33,000. Aster Capital Management DIFC Ltd increased its position in shares of Cactus by 73.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company’s stock worth $34,000 after acquiring an additional 314 shares during the last quarter. Huntington National Bank increased its position in shares of Cactus by 55.4% during the third quarter. Huntington National Bank now owns 1,094 shares of the company’s stock worth $43,000 after acquiring an additional 390 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in shares of Cactus by 113.8% in the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock worth $47,000 after acquiring an additional 543 shares in the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Cactus Price Performance

WHD opened at $50.38 on Friday. The company has a market capitalization of $4.04 billion, a P/E ratio of 47.53, a PEG ratio of 1.97 and a beta of 1.38. The company has a 50-day moving average of $56.62 and a 200-day moving average of $53.22. 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, Inc. has a 1-year low of $33.20 and a 1-year high of $64.30.

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

Cactus Announces Dividend

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

Insider Buying and Selling

In other Cactus news, Director Alan Semple sold 10,206 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $56.62, for a total transaction of $577,863.72. Following the transaction, the director owned 29,444 shares of the company’s stock, valued at $1,667,119.28. This trade represents a 25.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael Y. Mcgovern sold 12,000 shares of Cactus stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $56.57, for a total value of $678,840.00. Following the completion of the transaction, the director 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. The SEC filing for this sale provides additional information. Company insiders own 12.91% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on WHD shares. Barclays increased their price target on Cactus from $62.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Wall Street Zen downgraded Cactus from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Piper Sandler upped their target price on Cactus from $69.00 to $72.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Stifel Nicolaus reiterated a “buy” rating and set a $68.00 target price (up from $66.00) on shares of Cactus in a research note on Tuesday, June 16th. Finally, Citigroup increased their target price on Cactus from $65.00 to $67.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.40.

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