Principal Financial Group Inc. Buys 8,164 Shares of Cactus, Inc. (NYSE:WHD)

Principal Financial Group Inc. boosted its holdings in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 2.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 365,477 shares of the company's stock after acquiring an additional 8,164 shares during the quarter. Principal Financial Group Inc. owned 0.46% of Cactus worth $16,750,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in WHD. Oarsman Capital Inc. bought a new position in Cactus during the fourth quarter worth $26,000. Jones Financial Companies Lllp boosted its stake in Cactus by 66.9% during the fourth quarter. Jones Financial Companies Lllp now owns 841 shares of the company's stock worth $49,000 after acquiring an additional 337 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Cactus during the fourth quarter worth $76,000. AlphaQuest LLC boosted its stake in Cactus by 202.5% during the fourth quarter. AlphaQuest LLC now owns 1,706 shares of the company's stock worth $100,000 after acquiring an additional 1,142 shares in the last quarter. Finally, KBC Group NV boosted its stake in 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. 85.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on WHD. Stifel Nicolaus cut their target price 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. Barclays cut their target price on shares of Cactus from $54.00 to $53.00 and set an "overweight" rating on the stock in a research note on Friday, June 20th. Finally, JPMorgan Chase & Co. cut their target price 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $52.40.

Cactus Stock Down 2.7%

WHD traded down $1.22 during trading on Tuesday, hitting $43.35. 393,504 shares of the company's stock were exchanged, compared to its average volume of 701,220. The company has a quick ratio of 3.47, a current ratio of 4.85 and a debt-to-equity ratio of 0.01. The business's 50 day moving average is $43.88 and its two-hundred day moving average is $48.49. Cactus, Inc. has a fifty-two week low of $33.80 and a fifty-two week high of $70.01. The stock has a market cap of $3.46 billion, a P/E ratio of 15.43, a PEG ratio of 3.94 and a beta of 1.48.

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, topping the consensus estimate 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 the consensus estimate of $272.22 million. During the same quarter in the prior year, the company posted $0.75 earnings per share. The business's revenue was up 2.3% on a year-over-year basis. As a group, equities analysts expect that Cactus, Inc. will post 3.08 earnings per share for the current fiscal 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 $0.13 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.52 annualized dividend and a dividend yield of 1.20%. Cactus's dividend payout ratio is currently 18.51%.

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.