Cactus, Inc. (NYSE:WHD) Shares Acquired by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in Cactus, Inc. (NYSE:WHD) by 27.3%, owning 211,363 shares worth approximately $9.7 million as of its latest filing.
• Several analysts have recently revised their price targets for Cactus, with Stifel Nicolaus lowering its target from $57.00 to $53.00, while JPMorgan moved its target down from $52.00 to $50.00.
• Cactus announced a quarterly dividend increase to $0.14 per share, effective September 18th, which marks a rise from the previous dividend of $0.13.

Public Sector Pension Investment Board lifted its position in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 27.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 211,363 shares of the company's stock after acquiring an additional 45,272 shares during the quarter. Public Sector Pension Investment Board owned 0.27% of Cactus worth $9,687,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Capital International Investors lifted its stake in Cactus by 14.8% in the 4th quarter. Capital International Investors now owns 1,686,858 shares of the company's stock valued at $98,445,000 after buying an additional 218,004 shares in the last quarter. First Trust Advisors LP lifted its stake in 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 buying an additional 400,452 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Cactus by 3.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,238,420 shares of the company's stock valued at $72,271,000 after buying an additional 43,237 shares in the last quarter. Invesco Ltd. lifted its stake in Cactus by 0.9% in the 4th quarter. Invesco Ltd. now owns 752,707 shares of the company's stock valued at $43,928,000 after buying an additional 6,730 shares in the last quarter. Finally, Northern Trust Corp lifted its stake 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 in the last quarter. 85.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WHD. Stifel Nicolaus decreased their price target on shares of Cactus from $57.00 to $53.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. Barclays reaffirmed an "overweight" rating and issued a $52.00 price target (down from $53.00) on shares of Cactus in a research note on Monday, August 4th. JPMorgan Chase & Co. decreased their price target on shares of Cactus from $52.00 to $50.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Finally, Wall Street Zen downgraded shares of Cactus from a "hold" rating to a "sell" rating in a report on Saturday. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $50.75.

Cactus Price Performance

WHD stock traded down $0.74 during mid-day trading on Friday, reaching $39.70. The company's stock had a trading volume of 636,061 shares, compared to its average volume of 765,656. The stock has a market cap of $3.17 billion, a PE ratio of 14.98, a P/E/G ratio of 3.73 and a beta of 1.48. The company has a current ratio of 4.85, a quick ratio of 3.48 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's 50 day moving average is $43.94 and its two-hundred day moving average is $45.37.

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

Cactus Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.14 per share. The ex-dividend date is Friday, August 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from Cactus's previous quarterly dividend of $0.13. 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.