First Trust Advisors LP Boosts Stake in Cactus, Inc. $WHD

First Trust Advisors LP grew its stake in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 13.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,090,619 shares of the company's stock after buying an additional 251,283 shares during the period. First Trust Advisors LP owned 2.62% of Cactus worth $99,033,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in WHD. VELA Investment Management LLC increased its stake in Cactus by 24.2% in the fourth quarter. VELA Investment Management LLC now owns 146,042 shares of the company's stock valued at $6,671,000 after purchasing an additional 28,493 shares during the last quarter. Paradice Investment Management LLC boosted its stake in Cactus by 16.1% in the 4th quarter. Paradice Investment Management LLC now owns 675,932 shares of the company's stock worth $30,877,000 after buying an additional 93,714 shares during the last quarter. UBS Group AG grew its holdings in Cactus by 81.8% in the 4th quarter. UBS Group AG now owns 380,513 shares of the company's stock valued at $17,382,000 after buying an additional 171,223 shares during the period. Vest Financial LLC grew its holdings in Cactus by 24.7% in the 4th quarter. Vest Financial LLC now owns 134,568 shares of the company's stock valued at $6,147,000 after buying an additional 26,669 shares during the period. Finally, Royce & Associates LP increased its stake in shares of Cactus by 7.8% during the 4th quarter. Royce & Associates LP now owns 398,549 shares of the company's stock valued at $18,206,000 after acquiring an additional 28,973 shares during the last quarter. 85.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cactus

In other news, Director Alan Semple sold 10,206 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $56.62, for a total value of $577,863.72. Following the completion of the sale, the director directly owned 29,444 shares in the company, valued at approximately $1,667,119.28. The trade was a 25.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Y. Mcgovern sold 12,000 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The shares were 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 represents a 42.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 12.91% of the stock is currently owned by company insiders.

Cactus Price Performance

WHD opened at $55.00 on Friday. The company has a market capitalization of $4.41 billion, a P/E ratio of 51.89, a PEG ratio of 2.09 and a beta of 1.38. The company has a 50-day moving average of $55.94 and a 200-day moving average of $54.07. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.71 and a current ratio of 2.61. Cactus, Inc. has a 1-year low of $33.20 and a 1-year high of $64.30.

Cactus (NYSE:WHD - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.05. The business had revenue of $388.35 million during the quarter, compared to the consensus estimate of $380.42 million. Cactus had a return on equity of 15.43% and a net margin of 6.17%.The company's revenue for the quarter was up 38.5% compared to the same quarter last year. During the same period last year, the firm earned $0.73 earnings per share. Equities analysts expect that Cactus, Inc. will post 2.92 EPS for the current fiscal year.

Cactus Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 1st were given a $0.14 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.56 annualized dividend and a dividend yield of 1.0%. Cactus's dividend payout ratio (DPR) is presently 52.83%.

Wall Street Analysts Forecast Growth

WHD has been the subject of a number of research analyst reports. Barclays upped their price objective on Cactus from $62.00 to $70.00 and gave the stock an "overweight" rating in a report on Monday, May 11th. Citigroup boosted their price target on Cactus from $65.00 to $67.00 and gave the company a "buy" rating in a research report on Thursday, June 18th. Weiss Ratings upgraded Cactus from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, June 11th. Piper Sandler raised their price objective on Cactus from $72.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. Finally, Stifel Nicolaus reaffirmed a "buy" rating and issued a $68.00 price objective (up from $66.00) on shares of Cactus in a research note on Tuesday, June 16th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $63.60.

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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.

Want to see what other hedge funds are holding WHD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cactus, Inc. (NYSE:WHD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.