Kingsview Wealth Management LLC Invests $2.59 Million in Cactus, Inc. (NYSE:WHD)

Kingsview Wealth Management LLC purchased a new position in shares of Cactus, Inc. (NYSE:WHD - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 56,436 shares of the company's stock, valued at approximately $2,586,000. Kingsview Wealth Management LLC owned approximately 0.07% of Cactus at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in Cactus by 2.3% in the first quarter. Principal Financial Group Inc. now owns 365,477 shares of the company's stock valued at $16,750,000 after buying an additional 8,164 shares during the period. KBC Group NV increased its position in shares of Cactus by 11.9% during the first quarter. KBC Group NV now owns 3,373 shares of the company's stock worth $155,000 after acquiring an additional 360 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Cactus by 535.8% during the first quarter. SG Americas Securities LLC now owns 14,413 shares of the company's stock worth $661,000 after purchasing an additional 12,146 shares during the last quarter. Emerald Advisers LLC boosted its holdings in Cactus by 20.6% during the fourth quarter. Emerald Advisers LLC now owns 307,315 shares of the company's stock worth $17,935,000 after purchasing an additional 52,552 shares during the last quarter. Finally, Axiom Investors LLC DE boosted its holdings in Cactus by 26.0% during the fourth quarter. Axiom Investors LLC DE now owns 149,317 shares of the company's stock worth $8,714,000 after purchasing an additional 30,851 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of Cactus from $52.00 to $50.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Stifel Nicolaus reduced their target price on shares of Cactus from $61.00 to $57.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Barclays reduced their target price on shares of Cactus from $54.00 to $53.00 and set an "overweight" rating on the stock in a report on Friday, June 20th.

Cactus Price Performance

Shares of WHD stock remained flat at $43.57 during mid-day trading on Friday. 408,138 shares of the stock traded hands, compared to its average volume of 688,754. The stock has a market capitalization of $3.48 billion, a P/E ratio of 15.51, a P/E/G ratio of 3.83 and a beta of 1.48. The company has a 50-day simple moving average of $44.18 and a 200 day simple moving average of $48.06. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.85 and a quick ratio of 3.47. Cactus, Inc. has a 1 year low of $33.80 and a 1 year high of $70.01.

Cactus (NYSE:WHD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.03. Cactus had a net margin of 16.78% and a return on equity of 18.99%. The firm had revenue of $280.32 million for the quarter, compared to analysts' expectations of $272.22 million. During the same period in the prior year, the business posted $0.75 earnings per share. The business's revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities research analysts expect that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Monday, June 2nd. Cactus's dividend payout ratio (DPR) is 18.51%.

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.