Vise Technologies Inc. Makes New Investment in Cactus, Inc. $WHD

Vise Technologies Inc. acquired a new stake in shares of Cactus, Inc. (NYSE:WHD) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,159 shares of the company’s stock, valued at approximately $269,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Gilbert & Cook Inc. grew its stake in Cactus by 2.0% during the second quarter. Gilbert & Cook Inc. now owns 13,030 shares of the company’s stock valued at $570,000 after acquiring an additional 259 shares in the last quarter. Alliance Wealth Advisors LLC UT grew its position in shares of Cactus by 2.7% during the first quarter. Alliance Wealth Advisors LLC UT now owns 15,472 shares of the company’s stock valued at $709,000 after purchasing an additional 412 shares in the last quarter. Amalgamated Bank increased its holdings in shares of Cactus by 2.4% in the second quarter. Amalgamated Bank now owns 19,443 shares of the company’s stock worth $850,000 after purchasing an additional 456 shares during the last quarter. Atria Investments Inc increased its holdings in shares of Cactus by 6.4% in the second quarter. Atria Investments Inc now owns 8,083 shares of the company’s stock worth $353,000 after purchasing an additional 489 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its position 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 buying an additional 543 shares in the last quarter. Institutional investors own 85.11% of the company’s stock.

Insider Activity at Cactus

In other Cactus news, EVP William D. Marsh sold 10,172 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $41.32, for a total transaction of $420,307.04. Following the transaction, the executive vice president owned 11,088 shares of the company’s stock, valued at approximately $458,156.16. This trade represents a 47.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 16.84% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Zacks Research raised Cactus from a “strong sell” rating to a “hold” rating in a research note on Monday, November 3rd. Stifel Nicolaus boosted their target price on shares of Cactus from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Wall Street Zen raised shares of Cactus from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Weiss Ratings restated a “hold (c-)” rating on shares of Cactus in a research report on Thursday, October 30th. Finally, Barclays dropped their target price on Cactus from $52.00 to $51.00 and set an “overweight” rating for the company in a 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $47.75.

Cactus Stock Down 4.1%

Shares of NYSE WHD opened at $39.96 on Tuesday. Cactus, Inc. has a 1 year low of $33.20 and a 1 year high of $69.98. The firm has a 50-day simple moving average of $39.78 and a two-hundred day simple moving average of $41.88. The company has a market cap of $3.19 billion, a P/E ratio of 15.92, a PEG ratio of 8.47 and a beta of 1.46. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.28 and a quick ratio of 3.74.

Cactus (NYSE:WHD) last released its earnings results on Wednesday, October 29th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.09. The business had revenue of $263.95 million during the quarter, compared to the consensus estimate of $253.89 million. Cactus had a return on equity of 16.02% and a net margin of 15.86%.The business’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same period last year, the company earned $0.74 earnings per share. Research analysts anticipate that Cactus, Inc. will post 3.08 earnings per share for the current 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 dividend yield of 1.4%. The ex-dividend date is Monday, December 1st. Cactus’s dividend payout ratio is currently 22.31%.

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.