Royce & Associates LP Buys 28,973 Shares of Cactus, Inc. $WHD

Key Points

• Royce & Associates LP boosted its Cactus stake by 7.8% in the fourth quarter, buying 28,973 additional shares and bringing its holdings to 398,549 shares worth about $18.2 million.
• Wall Street sentiment on Cactus remains generally positive, with several analysts raising price targets and the stock currently carrying a Moderate Buy consensus rating and a $60.50 average price target.
• Cactus reported solid quarterly results, beating earnings and revenue estimates, while also announcing a quarterly dividend of $0.14 per share payable on June 18.

Royce & Associates LP increased its stake in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 7.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 398,549 shares of the company's stock after acquiring an additional 28,973 shares during the quarter. Royce & Associates LP owned approximately 0.50% of Cactus worth $18,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Covestor Ltd lifted its holdings in Cactus by 8.6% in the 4th quarter. Covestor Ltd now owns 2,758 shares of the company's stock worth $126,000 after buying an additional 219 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Cactus by 67.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company's stock worth $25,000 after buying an additional 259 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in Cactus by 0.5% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 57,938 shares of the company's stock worth $2,532,000 after buying an additional 269 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in Cactus by 1.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 15,734 shares of the company's stock worth $719,000 after buying an additional 300 shares during the period. Finally, California State Teachers Retirement System lifted its holdings in Cactus by 0.5% in the 2nd quarter. California State Teachers Retirement System now owns 66,538 shares of the company's stock worth $2,909,000 after buying an additional 306 shares during the period. 85.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Piper Sandler increased their price objective on Cactus from $69.00 to $72.00 and gave the stock an "overweight" rating in a report on Monday, May 18th. Citigroup increased their price objective on Cactus from $63.00 to $65.00 and gave the stock a "buy" rating in a report on Monday, May 11th. Wall Street Zen cut Cactus from a "buy" rating to a "hold" rating in a report on Saturday, March 21st. Weiss Ratings reiterated a "hold (c)" rating on shares of Cactus in a report on Friday, March 27th. Finally, Stifel Nicolaus increased their price objective on Cactus from $59.00 to $66.00 and gave the stock a "buy" rating in a report on Wednesday, May 20th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Cactus presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.50.

Insider Activity

In other news, Director Michael Y. Mcgovern sold 12,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $56.57, for a total value of $678,840.00. Following the completion of the transaction, the director owned 15,990 shares in the company, valued at $904,554.30. This trade represents a 42.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Alan Semple sold 10,206 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $56.62, for a total value of $577,863.72. Following the completion of the transaction, the director owned 29,444 shares of the company's stock, valued at approximately $1,667,119.28. The trade was a 25.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 222,206 shares of company stock worth $11,295,784 in the last quarter. 12.91% of the stock is owned by company insiders.

Cactus Trading Up 0.6%

WHD opened at $62.65 on Wednesday. The stock has a market cap of $5.02 billion, a PE ratio of 59.10, a PEG ratio of 2.45 and a beta of 1.37. The company has a quick ratio of 1.71, a current ratio of 2.61 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average of $53.37 and a 200-day moving average of $50.84. Cactus, Inc. has a 52 week low of $33.20 and a 52 week high of $64.30.

Cactus (NYSE:WHD - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.05. The company had revenue of $388.35 million during the quarter, compared to analysts' expectations of $380.42 million. Cactus had a return on equity of 15.43% and a net margin of 6.17%.The firm's revenue for the quarter was up 38.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 EPS. Equities research analysts predict that Cactus, Inc. will post 2.86 earnings per share for the current fiscal year.

Cactus Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Monday, June 1st will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, June 1st. Cactus's dividend payout ratio (DPR) is presently 52.83%.

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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.

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