Danske Bank A S Boosts Stake in Cactus, Inc. $WHD

Key Points

• Danske Bank A/S boosted its stake in Cactus by 1,199.5% to 352,367 shares, now owning about 0.44% of the company worth $16.1M, and institutional investors hold roughly 85.11% of the stock.
• Cactus beat Q4 expectations with EPS $0.65 vs. $0.58 and revenue of $261.2M versus $250.6M, but revenue fell 4% year-over-year and EPS was down from $0.71 a year earlier.
• Insiders sold heavily last quarter—President Joel Bender sold 106,809 shares and insiders sold 200,000 shares (~$10.04M) overall—while analysts' consensus is a Moderate Buy with a $56.33 target and several firms raising targets up to $73.

Danske Bank A S raised its position in Cactus, Inc. (NYSE:WHD - Free Report) by 1,199.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 352,367 shares of the company's stock after buying an additional 325,252 shares during the period. Danske Bank A S owned approximately 0.44% of Cactus worth $16,096,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vest Financial LLC boosted its position in Cactus by 35.3% in the 3rd quarter. Vest Financial LLC now owns 107,899 shares of the company's stock valued at $4,259,000 after buying an additional 28,139 shares during the last quarter. Hudson Edge Investment Partners Inc. boosted its position in Cactus by 249.2% in the 3rd quarter. Hudson Edge Investment Partners Inc. now owns 28,388 shares of the company's stock valued at $1,120,000 after buying an additional 20,258 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in Cactus in the 3rd quarter valued at about $1,872,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in Cactus in the 3rd quarter valued at about $525,000. Finally, Amova Asset Management Americas Inc. purchased a new position in Cactus in the 3rd quarter valued at about $525,000. 85.11% of the stock is owned by hedge funds and other institutional investors.

Cactus Stock Performance

Shares of WHD stock opened at $54.79 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.13 and a current ratio of 5.81. Cactus, Inc. has a one year low of $33.20 and a one year high of $59.25. The company's 50-day simple moving average is $51.28 and its 200-day simple moving average is $48.74. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 2.35 and a beta of 1.37.

Cactus (NYSE:WHD - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.58 by $0.07. Cactus had a net margin of 15.39% and a return on equity of 15.18%. The business had revenue of $261.20 million for the quarter, compared to analysts' expectations of $250.60 million. During the same quarter last year, the company posted $0.71 earnings per share. The company's quarterly revenue was down 4.0% compared to the same quarter last year. Equities analysts anticipate that Cactus, Inc. will post 2.53 earnings per share for the current fiscal year.

Cactus Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Monday, March 2nd were issued a $0.14 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.56 dividend on an annualized basis and a yield of 1.0%. Cactus's dividend payout ratio (DPR) is currently 23.33%.

Insider Transactions at Cactus

In other Cactus news, President Joel Bender sold 106,809 shares of the firm's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $49.92, for a total value of $5,331,905.28. Following the transaction, the president owned 27,793 shares of the company's stock, valued at $1,387,426.56. This trade represents a 79.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 200,000 shares of company stock valued at $10,039,080 over the last quarter. Company insiders own 12.91% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on WHD. Weiss Ratings reissued a "hold (c)" rating on shares of Cactus in a research report on Friday, March 27th. Barclays upped their price objective on shares of Cactus from $56.00 to $62.00 and gave the company an "overweight" rating in a research report on Monday, March 2nd. Citigroup increased their price target on shares of Cactus from $55.00 to $63.00 and gave the stock a "buy" rating in a research report on Tuesday, March 3rd. Piper Sandler initiated coverage on shares of Cactus in a research report on Tuesday, February 24th. They set an "overweight" rating and a $73.00 price target on the stock. Finally, Zacks Research cut shares of Cactus from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 26th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $56.33.

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. 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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