Nuveen LLC Purchases New Shares 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 Cactus, Inc. (NYSE:WHD - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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.

Other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. lifted its position in shares of Cactus by 10,002.6% during the 1st quarter. Pacer Advisors Inc. now owns 458,053 shares of the company's stock worth $20,993,000 after purchasing an additional 453,519 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Cactus in the 4th quarter valued at approximately $14,285,000. Tudor Investment Corp ET AL grew its holdings in Cactus by 487.1% in the 4th quarter. Tudor Investment Corp ET AL now owns 282,271 shares of the company's stock valued at $16,473,000 after buying an additional 234,191 shares during the last quarter. GAMMA Investing LLC grew its holdings in Cactus by 3,480.1% in the 1st quarter. GAMMA Investing LLC now owns 91,293 shares of the company's stock valued at $4,184,000 after buying an additional 88,743 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Cactus by 10.4% in the 4th quarter. Northern Trust Corp now owns 724,891 shares of the company's stock valued at $42,305,000 after buying an additional 68,473 shares during the last quarter. Institutional investors own 85.11% of the company's stock.

Analyst Upgrades and Downgrades

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

Cactus Stock Performance

Cactus stock traded up $0.13 during trading hours on Thursday, hitting $41.87. The stock had a trading volume of 572,265 shares, compared to its average volume of 750,237. The company has a 50-day moving average of $42.94 and a two-hundred day moving average of $44.26. The company has a quick ratio of 3.48, a current ratio of 4.85 and a debt-to-equity ratio of 0.01. The company has a market cap of $3.34 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 3.93 and a beta of 1.48. Cactus, Inc. has a fifty-two week low of $33.80 and a fifty-two week high of $70.01.

Cactus (NYSE:WHD - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). Cactus had a return on equity of 17.34% and a net margin of 16.19%.The company had revenue of $273.58 million during the quarter, compared to analyst estimates of $280.28 million. During the same period in the previous year, the company posted $0.81 earnings per share. The company's quarterly revenue was down 5.8% on a year-over-year basis. On average, equities research 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. Stockholders of record on Friday, August 29th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, August 29th. This is a boost from Cactus's previous quarterly dividend of $0.13. Cactus's payout ratio is currently 19.62%.

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.