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

Kingsview Wealth Management LLC purchased a new stake in shares of Cactus, Inc. (NYSE:WHD - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 56,436 shares of the company's stock, valued at approximately $2,586,000. Kingsview Wealth Management LLC owned about 0.07% of Cactus at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. State of Tennessee Department of Treasury boosted its holdings in shares of Cactus by 0.5% during the 4th quarter. State of Tennessee Department of Treasury now owns 35,828 shares of the company's stock worth $2,091,000 after buying an additional 177 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in Cactus by 1.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 10,382 shares of the company's stock valued at $606,000 after purchasing an additional 180 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Cactus by 6.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,776 shares of the company's stock worth $220,000 after acquiring an additional 239 shares during the period. Central Pacific Bank Trust Division lifted its holdings in shares of Cactus by 7.5% during the 1st 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 during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Cactus by 5.5% during the 4th 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 during the period. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Barclays lowered their price objective on shares of Cactus from $54.00 to $53.00 and set an "overweight" rating for the company in a research report on Friday, June 20th. JPMorgan Chase & Co. reduced their price objective 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. Finally, Stifel Nicolaus reduced their price objective on shares of Cactus from $61.00 to $57.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd.

Cactus Stock Up 2.3%

NYSE WHD traded up $0.98 on Tuesday, hitting $44.44. 576,218 shares of the company were exchanged, compared to its average volume of 688,178. The company has a market cap of $3.55 billion, a PE ratio of 15.81, a PEG ratio of 3.82 and a beta of 1.48. Cactus, Inc. has a 12 month low of $33.80 and a 12 month high of $70.01. The stock has a fifty day moving average of $44.17 and a 200-day moving average of $47.83. The company has a current ratio of 4.85, a quick ratio of 3.47 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.73 earnings per share for the quarter, beating 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 analyst estimates of $272.22 million. During the same period last year, the firm earned $0.75 earnings per share. The business's quarterly revenue was up 2.3% compared to the same quarter last year. As a group, analysts forecast that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Monday, June 2nd were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 1.17%. Cactus's dividend payout ratio (DPR) is presently 18.51%.

About Cactus

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.