Cactus, Inc. $WHD Shares Bought by UBS Group AG

Key Points

• UBS Group AG boosted its stake in Cactus, Inc. by 81.8% in the fourth quarter, buying 171,223 additional shares and ending with 380,513 shares valued at about $17.4 million.
• Cactus recently posted stronger-than-expected earnings and revenue, reporting $0.70 EPS versus the $0.65 estimate and $388.35 million in revenue, up 38.5% year over year.
• The company declared a quarterly dividend of $0.14 per share, while analysts currently have a mixed but slightly positive view with a consensus rating of Moderate Buy and a $58 average price target.

UBS Group AG increased its stake in Cactus, Inc. (NYSE:WHD - Free Report) by 81.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 380,513 shares of the company's stock after purchasing an additional 171,223 shares during the period. UBS Group AG owned 0.48% of Cactus worth $17,382,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its stake in Cactus by 67.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company's stock worth $25,000 after purchasing an additional 259 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in Cactus in the 3rd quarter worth approximately $33,000. Advisors Asset Management Inc. boosted its stake in Cactus by 113.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company's stock worth $47,000 after purchasing an additional 543 shares in the last quarter. Huntington National Bank boosted its stake in Cactus by 55.4% in the 3rd quarter. Huntington National Bank now owns 1,094 shares of the company's stock worth $43,000 after purchasing an additional 390 shares in the last quarter. Finally, Central Pacific Bank Trust Division boosted its stake in Cactus by 33.6% in the 4th quarter. Central Pacific Bank Trust Division now owns 4,292 shares of the company's stock worth $196,000 after purchasing an additional 1,080 shares in the last quarter. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Cactus Price Performance

Cactus stock opened at $57.28 on Wednesday. The company's fifty day moving average price is $51.21 and its 200 day moving average price is $49.53. Cactus, Inc. has a 1 year low of $33.20 and a 1 year high of $59.25. The stock has a market capitalization of $4.57 billion, a P/E ratio of 54.04, a P/E/G ratio of 2.16 and a beta of 1.37. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.71 and a current ratio of 2.61.

Cactus (NYSE:WHD - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. The firm had revenue of $388.35 million for the quarter, compared to analysts' expectations of $380.42 million. Cactus had a net margin of 6.17% and a return on equity of 15.43%. The company's revenue was up 38.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 EPS. As a group, equities research analysts anticipate that Cactus, Inc. will post 2.84 earnings per share for the current fiscal year.

Cactus Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.14 per share. The ex-dividend date is Monday, June 1st. This represents a $0.56 dividend on an annualized basis and a yield of 1.0%. Cactus's dividend payout ratio is 52.83%.

Insider Transactions at Cactus

In related news, President Joel Bender sold 106,809 shares of the company's stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $49.92, for a total transaction of $5,331,905.28. Following the sale, the president directly owned 27,793 shares in the company, valued at approximately $1,387,426.56. This represents a 79.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 200,000 shares of company stock worth $10,039,080 in the last 90 days. 12.91% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Piper Sandler assumed coverage on shares of Cactus in a research report on Tuesday, February 24th. They set an "overweight" rating and a $73.00 price target for the company. Zacks Research lowered shares of Cactus from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 26th. Wall Street Zen lowered shares of Cactus from a "buy" rating to a "hold" rating in a research report on Saturday, March 21st. Citigroup raised their price target on shares of Cactus from $63.00 to $65.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Cactus in a research report on Friday, March 27th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Cactus has an average rating of "Moderate Buy" and a consensus price target of $58.00.

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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.

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