Charles Schwab Investment Management Inc. Has $30.77 Million Holdings in Cactus, Inc. $WHD

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Cactus, Inc. by 4.3%, selling 30,131 shares and now holds 671,354 shares worth approximately $30.77 million.
• Several analysts have shifted their ratings on Cactus, with Wall Street Zen downgrading it from a "hold" to a "sell," while Barclays reaffirmed an "overweight" rating with a revised price target of $52.00.
• Cactus recently declared a quarterly dividend of $0.14, an increase from the previous $0.13, resulting in an annualized yield of 1.4%.

Charles Schwab Investment Management Inc. reduced its holdings in Cactus, Inc. (NYSE:WHD - Free Report) by 4.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 671,354 shares of the company's stock after selling 30,131 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.84% of Cactus worth $30,768,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Financial Harvest LLC acquired a new position in shares of Cactus during the 1st quarter valued at $130,000. KBC Group NV grew its holdings in shares of Cactus by 11.9% during the first quarter. KBC Group NV now owns 3,373 shares of the company's stock valued at $155,000 after buying an additional 360 shares in the last quarter. Central Pacific Bank Trust Division grew its holdings in shares of Cactus by 7.5% during the first quarter. Central Pacific Bank Trust Division now owns 3,586 shares of the company's stock valued at $164,000 after buying an additional 250 shares in the last quarter. Hancock Whitney Corp boosted its position in Cactus by 7.4% during the fourth quarter. Hancock Whitney Corp now owns 4,009 shares of the company's stock valued at $234,000 after purchasing an additional 277 shares during the last quarter. Finally, Vise Technologies Inc. acquired a new stake in Cactus during the fourth quarter valued at $254,000. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Stifel Nicolaus reduced their price target on Cactus from $57.00 to $53.00 and set a "buy" rating for the company in a research report on Friday, August 1st. JPMorgan Chase & Co. lowered their price target on Cactus from $52.00 to $50.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Barclays restated an "overweight" rating and set a $52.00 price target (down from $53.00) on shares of Cactus in a research note on Monday, August 4th. Finally, Wall Street Zen lowered Cactus from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $50.75.

Cactus Stock Up 7.2%

WHD stock traded up $2.8360 during trading hours on Friday, reaching $42.2560. 661,031 shares of the stock were exchanged, compared to its average volume of 778,009. The firm's 50-day moving average is $43.28 and its 200-day moving average is $44.78. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 3.71 and a beta of 1.48. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.85 and a quick ratio of 3.48. Cactus, Inc. has a 12 month low of $33.80 and a 12 month high of $70.01.

Cactus (NYSE:WHD - Get Free Report) last posted 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). Cactus had a return on equity of 17.34% and a net margin of 16.19%.The business had revenue of $273.58 million for the quarter, compared to analyst estimates of $280.28 million. During the same quarter in the prior year, the company earned $0.81 earnings per share. The company's quarterly revenue was down 5.8% on a year-over-year basis. On average, equities research analysts expect that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Increases Dividend

The firm also recently announced 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. This is a boost from Cactus's previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, August 29th. 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.