Invesco Ltd. Sells 35,518 Shares of Cactus, Inc. $WHD

Key Points

• Invesco Ltd. sold 35,518 shares of Cactus, Inc., reducing its stake by 4.7% to a total of 717,189 shares, which are valued at approximately $32.87 million.
• Cactus, Inc. recently reported earnings per share (EPS) of $0.66 for the last quarter, missing the analysts' consensus estimate of $0.67, and its revenue decreased by 5.8% year-over-year.
• The company announced an increase in its quarterly dividend from $0.13 to $0.14, which will be paid out on September 18th, and has a dividend yield of 1.4%.

Invesco Ltd. reduced its stake in Cactus, Inc. (NYSE:WHD - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 717,189 shares of the company's stock after selling 35,518 shares during the period. Invesco Ltd. owned 0.90% of Cactus worth $32,869,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State of Tennessee Department of Treasury increased its stake in Cactus by 0.5% in the fourth quarter. State of Tennessee Department of Treasury now owns 35,828 shares of the company's stock valued at $2,091,000 after purchasing an additional 177 shares in the last quarter. Central Pacific Bank Trust Division increased its position in shares of Cactus by 7.5% during the first quarter. Central Pacific Bank Trust Division now owns 3,586 shares of the company's stock worth $164,000 after acquiring an additional 250 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Cactus by 5.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,133 shares of the company's stock worth $300,000 after acquiring an additional 269 shares in the last quarter. Hancock Whitney Corp increased its position in shares of Cactus by 7.4% during the fourth quarter. Hancock Whitney Corp now owns 4,009 shares of the company's stock worth $234,000 after acquiring an additional 277 shares in the last quarter. Finally, Xponance Inc. increased its position in shares of Cactus by 5.7% during the first quarter. Xponance Inc. now owns 5,405 shares of the company's stock worth $248,000 after acquiring an additional 291 shares in the last quarter. 85.11% of the stock is owned by institutional investors.

Cactus Trading Down 1.1%

Shares of WHD stock opened at $39.29 on Tuesday. 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 quick ratio of 3.48 and a current ratio of 4.85. The company has a 50-day simple moving average of $43.81 and a two-hundred day simple moving average of $45.12. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 3.73 and a beta of 1.48.

Cactus (NYSE:WHD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). Cactus had a return on equity of 17.34% and a net margin of 16.19%. The firm had revenue of $273.58 million during the quarter, compared to the consensus estimate of $280.28 million. During the same period in the previous year, the company posted $0.81 earnings per share. The company's revenue for the quarter was down 5.8% on a year-over-year basis. Research analysts anticipate that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, August 29th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, August 29th. This is a positive change from Cactus's previous quarterly dividend of $0.13. Cactus's payout ratio is currently 21.13%.

Analyst Ratings Changes

Several research firms have recently commented on WHD. Stifel Nicolaus decreased their target price on shares of Cactus from $57.00 to $53.00 and set a "buy" rating for the company in a research report on Friday, August 1st. Barclays reissued an "overweight" rating and set a $52.00 target price (down from $53.00) on shares of Cactus in a research report on Monday, August 4th. Wall Street Zen downgraded shares of Cactus from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Cactus from $52.00 to $50.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $50.75.

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.

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