Congress Asset Management Co. Increases Stock Position in Cactus, Inc. (NYSE:WHD)

Congress Asset Management Co. boosted its stake in Cactus, Inc. (NYSE:WHD - Free Report) by 13.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 322,467 shares of the company's stock after acquiring an additional 37,781 shares during the period. Congress Asset Management Co. owned 0.41% of Cactus worth $14,779,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Oarsman Capital Inc. purchased a new stake in Cactus in the 4th quarter valued at $26,000. Smartleaf Asset Management LLC boosted its holdings in Cactus by 74.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 522 shares of the company's stock worth $30,000 after purchasing an additional 223 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Cactus by 66.9% in the 4th quarter. Jones Financial Companies Lllp now owns 841 shares of the company's stock worth $49,000 after buying an additional 337 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Cactus in the fourth quarter valued at approximately $76,000. Finally, AlphaQuest LLC grew its holdings in shares of Cactus by 202.5% in the fourth quarter. AlphaQuest LLC now owns 1,706 shares of the company's stock valued at $100,000 after acquiring an additional 1,142 shares in the last quarter. Institutional investors own 85.11% of the company's stock.

Cactus Trading Up 0.3%

WHD traded up $0.14 during midday trading on Wednesday, reaching $47.06. 640,600 shares of the company's stock traded hands, compared to its average volume of 793,906. Cactus, Inc. has a 52 week low of $33.80 and a 52 week high of $70.01. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67. The firm has a fifty day moving average of $40.41 and a two-hundred day moving average of $51.47. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 16.69, a P/E/G ratio of 5.13 and a beta of 1.49.

Cactus (NYSE:WHD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.03. The company had revenue of $280.32 million during the quarter, compared to analyst estimates of $272.22 million. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The firm's revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 earnings per share. On average, equities analysts anticipate that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, June 2nd will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Monday, June 2nd. Cactus's dividend payout ratio is currently 18.51%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective 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 raised Cactus from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $51.00 to $54.00 in a research report on Wednesday, June 4th. Finally, Stifel Nicolaus cut their price target on Cactus from $61.00 to $57.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $52.50.

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.