Norges Bank Buys New Holdings in Cactus, Inc. $WHD

Norges Bank purchased a new position in shares of Cactus, Inc. (NYSE:WHD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 54,533 shares of the company’s stock, valued at approximately $2,384,000. Norges Bank owned about 0.07% of Cactus as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its stake in shares of Cactus by 113.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock worth $47,000 after acquiring an additional 543 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Cactus during the 1st quarter valued at $57,000. CWM LLC boosted its position in Cactus by 131.7% during the second quarter. CWM LLC now owns 2,966 shares of the company’s stock worth $130,000 after purchasing an additional 1,686 shares during the period. Central Pacific Bank Trust Division increased its holdings in shares of Cactus by 21.4% in the second quarter. Central Pacific Bank Trust Division now owns 4,352 shares of the company’s stock valued at $190,000 after purchasing an additional 766 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Cactus by 26.0% in the second quarter. PNC Financial Services Group Inc. now owns 4,438 shares of the company’s stock valued at $194,000 after purchasing an additional 915 shares during the last quarter. Institutional investors own 85.11% of the company’s stock.

Cactus Price Performance

Cactus stock opened at $46.94 on Thursday. The firm has a market cap of $3.75 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 4.93 and a beta of 1.29. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.28 and a quick ratio of 3.74. The stock’s fifty day moving average price is $40.76 and its two-hundred day moving average price is $42.03. Cactus, Inc. has a one year low of $33.20 and a one year high of $65.75.

Cactus (NYSE:WHD) last released its earnings results on Wednesday, October 29th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.09. Cactus had a return on equity of 16.02% and a net margin of 15.86%.The company had revenue of $263.95 million for the quarter, compared to analyst estimates of $253.89 million. During the same period in the prior year, the firm posted $0.74 EPS. Cactus’s quarterly revenue was down 10.0% on a year-over-year basis. As a group, research analysts expect that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Monday, December 1st will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, December 1st. Cactus’s dividend payout ratio (DPR) is currently 22.31%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Bank of America upgraded shares of Cactus from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $39.00 to $40.00 in a research note on Wednesday, October 29th. Weiss Ratings restated a “hold (c-)” rating on shares of Cactus in a report on Monday, December 1st. Zacks Research upgraded Cactus from a “strong sell” rating to a “hold” rating in a research note on Monday, November 3rd. Stifel Nicolaus boosted their price target on Cactus from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Barclays lowered their price objective on Cactus from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $47.75.

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.