First Trust Advisors LP Has $90.84 Million Stock Position in Cactus, Inc. (NYSE:WHD)

First Trust Advisors LP grew its position in Cactus, Inc. (NYSE:WHD) by 34.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,556,565 shares of the company’s stock after purchasing an additional 400,452 shares during the period. First Trust Advisors LP’s holdings in Cactus were worth $90,841,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC raised its holdings in shares of Cactus by 429.4% during the 3rd quarter. Barclays PLC now owns 123,562 shares of the company’s stock valued at $7,373,000 after purchasing an additional 100,223 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Cactus during the third quarter valued at about $177,000. Tidal Investments LLC raised its holdings in Cactus by 9.1% during the third quarter. Tidal Investments LLC now owns 31,204 shares of the company’s stock valued at $1,862,000 after buying an additional 2,591 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Cactus by 4.8% in the third quarter. Principal Financial Group Inc. now owns 342,278 shares of the company’s stock worth $20,424,000 after buying an additional 15,760 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Cactus by 1.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,102,984 shares of the company’s stock worth $185,155,000 after acquiring an additional 52,085 shares in the last quarter. 85.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WHD has been the topic of several analyst reports. Stifel Nicolaus lowered their price target on Cactus from $64.00 to $61.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Barclays dropped their target price on shares of Cactus from $61.00 to $54.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. 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 company’s stock. Based on data from MarketBeat, Cactus has a consensus rating of “Hold” and a consensus target price of $53.80.

Cactus Trading Up 4.2 %

Shares of WHD stock opened at $37.73 on Monday. The company has a current ratio of 3.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a 1 year low of $33.80 and a 1 year high of $70.01. The firm’s fifty day simple moving average is $46.97 and its 200 day simple moving average is $56.90. The firm has a market capitalization of $3.00 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 5.13 and a beta of 1.74.

Cactus (NYSE:WHD) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.01). Cactus had a net margin of 16.57% and a return on equity of 20.24%. The company had revenue of $272.12 million for the quarter, compared to analyst estimates of $277.59 million. As a group, sell-side analysts predict that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 3rd were given a $0.13 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.38%. Cactus’s dividend payout ratio is currently 18.84%.

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.