Cactus, Inc. $WHD Shares Purchased by Fideuram Intesa Sanpaolo Private Banking S.P.A.

Key Points

• Fideuram Intesa Sanpaolo Private Banking S.P.A. boosted its stake in Cactus by 62.3% in the first quarter, ending with 72,920 shares valued at about $3.45 million.
• Cactus reported stronger-than-expected quarterly results, with EPS of $0.70 beating estimates and revenue rising 38.5% year over year to $388.35 million.
• Analyst sentiment remains generally positive, with several firms raising price targets and the stock carrying a Moderate Buy rating with an average target price of $63.40.

Fideuram Intesa Sanpaolo Private Banking S.P.A. increased its holdings in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 62.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 72,920 shares of the company's stock after buying an additional 27,986 shares during the quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. owned about 0.09% of Cactus worth $3,454,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in WHD. EverSource Wealth Advisors LLC increased its stake in shares of Cactus by 67.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company's stock valued at $25,000 after acquiring an additional 259 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Cactus in the third quarter worth approximately $33,000. Aster Capital Management DIFC Ltd boosted its position in shares of Cactus by 73.4% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company's stock worth $34,000 after acquiring an additional 314 shares during the last quarter. Huntington National Bank grew its holdings in Cactus by 55.4% in the third quarter. Huntington National Bank now owns 1,094 shares of the company's stock valued at $43,000 after purchasing an additional 390 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in Cactus by 113.8% in the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company's stock valued at $47,000 after purchasing an additional 543 shares during the period. 85.11% of the stock is owned by institutional investors and hedge funds.

Cactus Trading Down 0.1%

Shares of WHD stock opened at $50.38 on Friday. The stock has a market cap of $4.04 billion, a price-to-earnings ratio of 47.53, a price-to-earnings-growth ratio of 1.97 and a beta of 1.38. The company has a quick ratio of 1.71, a current ratio of 2.61 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a fifty-two week low of $33.20 and a fifty-two week high of $64.30. The firm's 50 day moving average price is $56.62 and its two-hundred day moving average price is $53.22.

Cactus (NYSE:WHD - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.05. Cactus had a net margin of 6.17% and a return on equity of 15.43%. The company had revenue of $388.35 million during the quarter, compared to the consensus estimate of $380.42 million. During the same period in the previous year, the firm earned $0.73 earnings per share. Cactus's revenue for the quarter was up 38.5% on a year-over-year basis. On average, analysts anticipate that Cactus, Inc. will post 2.88 EPS for the current year.

Cactus Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 1st were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Monday, June 1st. Cactus's dividend payout ratio is 52.83%.

Insider Buying and Selling at Cactus

In other Cactus news, Director Michael Y. Mcgovern sold 12,000 shares of the firm's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $56.57, for a total value of $678,840.00. Following the transaction, the director directly owned 15,990 shares of the company's stock, valued at $904,554.30. This trade represents a 42.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Alan Semple sold 10,206 shares of the company's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $56.62, for a total value of $577,863.72. Following the completion of the sale, the director directly owned 29,444 shares of the company's stock, valued at $1,667,119.28. The trade was a 25.74% decrease in their position. The disclosure for this sale is available in the SEC filing. 12.91% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

WHD has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Cactus from a "buy" rating to a "hold" rating in a research note on Saturday, March 21st. Stifel Nicolaus reissued a "buy" rating and set a $68.00 price objective (up from $66.00) on shares of Cactus in a research note on Tuesday, June 16th. Piper Sandler upped their price objective on Cactus from $69.00 to $72.00 and gave the stock an "overweight" rating in a report on Monday, May 18th. Weiss Ratings raised Cactus from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, June 11th. Finally, Barclays lifted their target price on Cactus from $62.00 to $70.00 and gave the company an "overweight" rating in a report on Monday, May 11th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Cactus presently has an average rating of "Moderate Buy" and an average price target of $63.40.

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. 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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