Segall Bryant & Hamill LLC Acquires Shares of 25,766 Cactus, Inc. $WHD

Segall Bryant & Hamill LLC acquired a new stake in Cactus, Inc. (NYSE:WHD) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 25,766 shares of the company’s stock, valued at approximately $1,221,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in Cactus by 20.0% in the fourth quarter. Wellington Management Group LLP now owns 3,963,961 shares of the company’s stock valued at $181,074,000 after purchasing an additional 659,366 shares during the last quarter. State Street Corp raised its stake in shares of Cactus by 3.0% during the 4th quarter. State Street Corp now owns 2,844,994 shares of the company’s stock valued at $129,959,000 after buying an additional 83,190 shares during the last quarter. Capital International Investors lifted its holdings in shares of Cactus by 27.0% in the 4th quarter. Capital International Investors now owns 2,343,731 shares of the company’s stock valued at $107,062,000 after buying an additional 498,210 shares during the period. First Trust Advisors LP lifted its holdings in shares of Cactus by 13.7% in the 1st quarter. First Trust Advisors LP now owns 2,090,619 shares of the company’s stock valued at $99,033,000 after buying an additional 251,283 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Cactus by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 1,964,059 shares of the company’s stock worth $89,729,000 after buying an additional 28,415 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on WHD. Weiss Ratings raised Cactus from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Piper Sandler boosted their price target on Cactus from $72.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Barclays upped their price objective on Cactus from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Monday. Citigroup lifted their target price on shares of Cactus from $65.00 to $67.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Finally, Stifel Nicolaus boosted their target price on shares of Cactus from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.20.

Cactus Stock Performance

NYSE:WHD opened at $65.91 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 2.59. The stock has a market capitalization of $5.28 billion, a PE ratio of 56.33, a P/E/G ratio of 2.41 and a beta of 1.36. Cactus, Inc. has a fifty-two week low of $33.20 and a fifty-two week high of $68.00. The company has a fifty day moving average of $55.75 and a two-hundred day moving average of $54.61.

Cactus (NYSE:WHD) last announced its earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.29. The business had revenue of $449.53 million for the quarter, compared to analyst estimates of $400.82 million. Cactus had a net margin of 6.01% and a return on equity of 16.66%. The company’s revenue for the quarter was up 64.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.66 earnings per share. As a group, research analysts forecast that Cactus, Inc. will post 3.07 earnings per share for the current fiscal year.

Cactus Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 31st will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.9%. This is a boost from Cactus’s previous quarterly dividend of $0.14. The ex-dividend date is Monday, August 31st. Cactus’s dividend payout ratio (DPR) is 47.86%.

Insider Transactions at Cactus

In related news, Director Alan Semple sold 10,206 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $56.62, for a total value of $577,863.72. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen Tadlock sold 38,455 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $63.80, for a total value of $2,453,429.00. Following the completion of the transaction, the chief executive officer owned 43,178 shares in the company, valued at $2,754,756.40. The trade was a 47.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 260,661 shares of company stock valued at $15,827,218. Insiders own 12.91% of the company’s stock.

Cactus Company 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.