Principal Financial Group Inc. Raises Position in Cactus, Inc. (NYSE:WHD)

Principal Financial Group Inc. boosted its position in Cactus, Inc. (NYSE:WHD - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 365,477 shares of the company's stock after purchasing an additional 8,164 shares during the period. Principal Financial Group Inc. owned about 0.46% of Cactus worth $16,750,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. State of Tennessee Department of Treasury raised its stake in shares of 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 buying an additional 177 shares during the period. O Shaughnessy Asset Management LLC raised its stake 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 acquiring an additional 180 shares during the period. PNC Financial Services Group Inc. raised its stake in Cactus by 6.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,776 shares of the company's stock valued at $220,000 after acquiring an additional 239 shares during the period. Central Pacific Bank Trust Division lifted its holdings in Cactus by 7.5% during the first quarter. Central Pacific Bank Trust Division now owns 3,586 shares of the company's stock valued at $164,000 after purchasing an additional 250 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in 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 purchasing an additional 269 shares during the period. Hedge funds and other institutional investors own 85.11% of the company's stock.

Cactus Trading Down 0.1%

Shares of Cactus stock opened at $45.92 on Friday. The company's 50-day moving average price is $43.88 and its 200-day moving average price is $48.62. 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, Inc. has a 12-month low of $33.80 and a 12-month high of $70.01. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 3.95 and a beta of 1.48.

Cactus (NYSE:WHD - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.73 earnings per share 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 business had revenue of $280.32 million for the quarter, compared to analyst estimates of $272.22 million. During the same quarter in the prior year, the firm posted $0.75 EPS. Cactus's revenue was up 2.3% on a year-over-year basis. On average, 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. Shareholders of record on Monday, June 2nd were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.13%. The ex-dividend date was Monday, June 2nd. Cactus's dividend payout ratio is presently 18.51%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on WHD shares. Stifel Nicolaus lowered their price target on shares of Cactus from $61.00 to $57.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Barclays lowered 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. Finally, JPMorgan Chase & Co. dropped their target price on Cactus from $52.00 to $50.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Cactus has a consensus rating of "Hold" and an average price target of $52.40.

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.

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