Bank of America Corp DE Has $29.87 Million Stock Holdings in Cactus, Inc. (NYSE:WHD)

Bank of America Corp DE lessened its holdings in Cactus, Inc. (NYSE:WHD - Free Report) by 12.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 511,813 shares of the company's stock after selling 74,340 shares during the quarter. Bank of America Corp DE owned 0.64% of Cactus worth $29,869,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in WHD. Vanguard Group Inc. boosted its holdings in shares of Cactus by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 7,680,731 shares of the company's stock valued at $448,247,000 after buying an additional 147,395 shares during the last quarter. Geode Capital Management LLC raised its position in Cactus by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 1,804,107 shares of the company's stock worth $105,308,000 after acquiring an additional 45,821 shares in the last quarter. Boston Trust Walden Corp lifted its stake in Cactus by 0.6% in the fourth quarter. Boston Trust Walden Corp now owns 1,797,489 shares of the company's stock valued at $104,901,000 after acquiring an additional 9,884 shares during the last quarter. Capital International Investors lifted its stake in Cactus by 14.8% in the fourth quarter. Capital International Investors now owns 1,686,858 shares of the company's stock valued at $98,445,000 after acquiring an additional 218,004 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of Cactus by 34.6% in the 4th quarter. First Trust Advisors LP now owns 1,556,565 shares of the company's stock valued at $90,841,000 after acquiring an additional 400,452 shares during the period. Institutional investors own 85.11% of the company's stock.

Cactus Price Performance

Shares of NYSE WHD traded down $1.48 during trading hours on Wednesday, hitting $41.01. 479,933 shares of the stock were exchanged, compared to its average volume of 794,961. The company's fifty day simple moving average is $41.31 and its two-hundred day simple moving average is $53.88. The company has a market cap of $3.26 billion, a PE ratio of 14.54, a price-to-earnings-growth ratio of 5.13 and a beta of 1.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82. Cactus, Inc. has a 1-year low of $33.80 and a 1-year high of $70.01.

Cactus (NYSE:WHD - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.03. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The firm had revenue of $280.32 million for the quarter, compared to the consensus estimate of $272.22 million. During the same quarter last year, the business posted $0.75 EPS. The company's revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts predict that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, June 2nd will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.27%. The ex-dividend date is Monday, June 2nd. Cactus's dividend payout ratio (DPR) is presently 18.51%.

Wall Street Analysts Forecast Growth

WHD has been the subject of several recent analyst reports. Stifel Nicolaus cut their target price on shares of Cactus from $61.00 to $57.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Barclays cut their price objective on Cactus from $54.00 to $51.00 and set an "equal weight" rating for the company in a research report on Friday, May 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Cactus from $54.00 to $52.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $52.33.

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.