CW Advisors LLC Raises Stock Holdings in Cactus, Inc. $WHD

Key Points

• CW Advisors LLC increased its stake in Cactus, Inc. by 27.7%, now owning approximately 0.10% of the company valued at $3.57 million.
• Several institutional investors, including Wells Fargo, have raised their positions in Cactus, contributing to institutional ownership of 85.11% in the company.
• Cactus, Inc. recently declared a quarterly dividend of $0.14 per share, marking an increase from its previous dividend of $0.13, with a yield of 1.3%.

CW Advisors LLC boosted its holdings in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 27.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,988 shares of the company's stock after acquiring an additional 16,936 shares during the quarter. CW Advisors LLC owned 0.10% of Cactus worth $3,574,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Cactus during the 1st quarter worth approximately $57,000. Financial Harvest LLC bought a new stake in Cactus during the 1st quarter worth approximately $130,000. KBC Group NV grew its holdings in Cactus by 11.9% during the 1st quarter. KBC Group NV now owns 3,373 shares of the company's stock worth $155,000 after acquiring an additional 360 shares during the last quarter. Central Pacific Bank Trust Division grew its holdings in Cactus by 7.5% during the 1st quarter. Central Pacific Bank Trust Division now owns 3,586 shares of the company's stock worth $164,000 after acquiring an additional 250 shares during the last quarter. Finally, Portside Wealth Group LLC grew its holdings in Cactus by 12.2% during the 1st quarter. Portside Wealth Group LLC now owns 4,576 shares of the company's stock worth $210,000 after acquiring an additional 496 shares during the last quarter. 85.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Cactus Stock Up 0.3%

Shares of Cactus stock traded up $0.13 during trading on Thursday, reaching $41.87. 345,092 shares of the company traded hands, compared to its average volume of 714,338. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.85 and a quick ratio of 3.48. The company has a 50 day moving average price of $43.02 and a 200-day moving average price of $44.39. Cactus, Inc. has a 1-year low of $33.80 and a 1-year high of $70.01. The firm has a market capitalization of $3.34 billion, a PE ratio of 15.77, a P/E/G ratio of 3.83 and a beta of 1.48.

Cactus (NYSE:WHD - Get Free Report) last announced its 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 net margin of 16.19% and a return on equity of 17.34%. The firm had revenue of $273.58 million during the quarter, compared to analysts' expectations of $280.28 million. During the same quarter in the prior year, the company earned $0.81 EPS. The business's revenue for the quarter was down 5.8% on a year-over-year basis. As a group, equities research analysts expect that Cactus, Inc. will post 3.08 earnings per share 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 paid a $0.14 dividend. This is an increase from Cactus's previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, August 29th. Cactus's payout ratio is 21.13%.

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.