Nuveen LLC Buys New Position in Cactus, Inc. $WHD

Key Points

• Nuveen LLC acquired 250,792 shares of Cactus, Inc. for approximately $11.5 million, representing a 0.32% ownership stake as of the latest quarterly filing.
• Cactus recently declared a quarterly dividend of $0.14 per share, which marks an increase from the previous dividend of $0.13, resulting in a 1.3% yield.
• Analysts have adjusted their price targets for Cactus, with ratings ranging from buy to sell, reflecting uncertainty, particularly after a recent report showing a 5.8% decline in year-over-year revenue.

Nuveen LLC bought a new position in shares of Cactus, Inc. (NYSE:WHD - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 250,792 shares of the company's stock, valued at approximately $11,494,000. Nuveen LLC owned 0.32% of Cactus at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Aigen Investment Management LP purchased a new stake in shares of Cactus in the 1st quarter valued at approximately $376,000. CenterBook Partners LP purchased a new position in shares of Cactus during the first quarter worth $484,000. Jupiter Asset Management Ltd. acquired a new stake in shares of Cactus in the first quarter valued at $852,000. GSA Capital Partners LLP raised its holdings in shares of Cactus by 394.0% in the 1st quarter. GSA Capital Partners LLP now owns 18,022 shares of the company's stock valued at $826,000 after buying an additional 14,374 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in Cactus by 26.7% during the 1st quarter. Mackenzie Financial Corp now owns 11,705 shares of the company's stock worth $536,000 after acquiring an additional 2,468 shares in the last quarter. 85.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wall Street Zen cut shares of Cactus from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. JPMorgan Chase & Co. lowered their target price on Cactus from $52.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Stifel Nicolaus lowered their target price on Cactus from $57.00 to $53.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Finally, Barclays reiterated an "overweight" rating and set a $52.00 price target (down previously from $53.00) on shares of Cactus in a report on Monday, August 4th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Cactus presently has an average rating of "Hold" and a consensus price target of $50.75.

Cactus Stock Down 1.6%

NYSE WHD traded down $0.6760 on Monday, hitting $41.6640. 451,087 shares of the stock were exchanged, compared to its average volume of 793,915. The company has a quick ratio of 3.48, a current ratio of 4.85 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a fifty-two week low of $33.80 and a fifty-two week high of $70.01. The company has a market cap of $3.33 billion, a PE ratio of 14.65, a PEG ratio of 3.98 and a beta of 1.48. The company has a 50-day moving average price of $43.19 and a 200-day moving average price of $44.43.

Cactus (NYSE:WHD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). Cactus had a return on equity of 17.34% and a net margin of 16.19%.The firm had revenue of $273.58 million for the quarter, compared to analyst estimates of $280.28 million. During the same quarter last year, the firm earned $0.81 EPS. The company's revenue was down 5.8% on a year-over-year basis. Sell-side analysts anticipate that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, August 29th will be given a $0.14 dividend. This is a positive change from Cactus's previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.3%. Cactus's payout ratio is 19.62%.

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.