Fideuram Intesa Sanpaolo Private Banking S.P.A. Makes New Investment in Cactus, Inc. $WHD

Key Points

• Fideuram Intesa Sanpaolo Private Banking opened a new position in Cactus, buying 44,934 shares valued at about $2.05 million in the fourth quarter.
• Analysts remain mixed on the stock, with several firms raising price targets, and the consensus rating currently sitting at “Moderate Buy” with an average target price of $60.50.
• Cactus reported better-than-expected quarterly earnings of $0.70 per share and revenue of $388.35 million, and it also announced a quarterly dividend of $0.14 per share.

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Cactus, Inc. (NYSE:WHD - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 44,934 shares of the company's stock, valued at approximately $2,053,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. owned 0.06% of Cactus at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WHD. EverSource Wealth Advisors LLC boosted its position in Cactus by 67.6% during the third quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company's stock worth $25,000 after purchasing an additional 259 shares during the period. Johnson Financial Group Inc. bought a new position in Cactus during the third quarter worth $33,000. Huntington National Bank boosted its position in Cactus by 55.4% during the third quarter. Huntington National Bank now owns 1,094 shares of the company's stock worth $43,000 after purchasing an additional 390 shares during the period. Advisors Asset Management Inc. boosted its position in Cactus by 113.8% during the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company's stock worth $47,000 after purchasing an additional 543 shares during the period. Finally, Brucke Financial Inc. bought a new position in Cactus during the third quarter worth $180,000. 85.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Barclays lifted their price objective on shares of Cactus from $62.00 to $70.00 and gave the stock an "overweight" rating in a research report on Monday, May 11th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Cactus in a report on Friday, March 27th. Stifel Nicolaus upped their price objective on Cactus from $59.00 to $66.00 and gave the company a "buy" rating in a report on Wednesday. Citigroup upped their price objective on Cactus from $63.00 to $65.00 and gave the company a "buy" rating in a report on Monday, May 11th. Finally, Wall Street Zen lowered Cactus from a "buy" rating to a "hold" rating in a report on Saturday, March 21st. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $60.50.

Insider Transactions at Cactus

In other news, Director Alan Semple sold 10,206 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $56.62, for a total transaction of $577,863.72. Following the sale, the director directly owned 29,444 shares of the company's stock, valued at approximately $1,667,119.28. This represents a 25.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael Y. Mcgovern sold 12,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $56.57, for a total value of $678,840.00. Following the sale, the director directly owned 15,990 shares in the company, valued at approximately $904,554.30. This trade represents a 42.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 222,206 shares of company stock valued at $11,295,784. 12.91% of the stock is owned by corporate insiders.

Cactus Stock Performance

Shares of NYSE WHD opened at $62.04 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.61 and a quick ratio of 1.71. The stock's fifty day moving average price is $52.18 and its two-hundred day moving average price is $50.32. Cactus, Inc. has a one year low of $33.20 and a one year high of $62.75. The firm has a market cap of $4.97 billion, a price-to-earnings ratio of 58.53, a P/E/G ratio of 2.38 and a beta of 1.37.

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

Cactus Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, June 1st. Cactus's dividend payout ratio is 52.83%.

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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