Congress Asset Management Co. Raises Stock Holdings in Cactus, Inc. (NYSE:WHD)

Congress Asset Management Co. grew its holdings in Cactus, Inc. (NYSE:WHD - Free Report) by 13.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 322,467 shares of the company's stock after acquiring an additional 37,781 shares during the quarter. Congress Asset Management Co. owned 0.41% of Cactus worth $14,779,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Cactus by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 7,680,731 shares of the company's stock worth $448,247,000 after purchasing an additional 147,395 shares during the period. Geode Capital Management LLC lifted its position in Cactus by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 1,804,107 shares of the company's stock worth $105,308,000 after purchasing an additional 45,821 shares during the period. Capital International Investors lifted its position in Cactus by 14.8% during the fourth quarter. Capital International Investors now owns 1,686,858 shares of the company's stock worth $98,445,000 after purchasing an additional 218,004 shares during the period. First Trust Advisors LP lifted its position in Cactus by 34.6% during the fourth quarter. First Trust Advisors LP now owns 1,556,565 shares of the company's stock worth $90,841,000 after purchasing an additional 400,452 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Cactus by 3.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,238,420 shares of the company's stock worth $72,271,000 after purchasing an additional 43,237 shares during the period. Institutional investors own 85.11% of the company's stock.

Cactus Stock Up 1.4%

NYSE:WHD traded up $0.66 during trading hours on Monday, hitting $46.22. 51,399 shares of the company traded hands, compared to its average volume of 804,223. The company has a market cap of $3.69 billion, a PE ratio of 16.36, a PEG ratio of 5.13 and a beta of 1.49. Cactus, Inc. has a one year low of $33.80 and a one year high of $70.01. The company has a quick ratio of 2.67, a current ratio of 3.82 and a debt-to-equity ratio of 0.01. The firm's 50-day simple moving average is $40.32 and its 200-day simple moving average is $51.66.

Cactus (NYSE:WHD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate 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 for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 EPS. Equities analysts predict that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, June 2nd will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Monday, June 2nd. Cactus's dividend payout ratio is currently 18.51%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on WHD shares. Barclays raised shares of Cactus from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $51.00 to $54.00 in a report on Wednesday, June 4th. JPMorgan Chase & Co. dropped their target price on shares of Cactus from $52.00 to $50.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Finally, Stifel Nicolaus dropped their target price on shares of Cactus from $61.00 to $57.00 and set a "buy" rating for the company in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average 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.