SG Americas Securities LLC Raises Stock Holdings in Cactus, Inc. $WHD

Key Points

• SG Americas Securities LLC boosted its Cactus stake by 237.1% in the first quarter, ending with 78,748 shares worth about $3.73 million.
• Two Cactus directors sold shares on May 12: Alan Semple sold 10,206 shares and Michael Y. Mcgovern sold 12,000 shares, both at roughly $56.60 per share.
• Cactus reported Q1 earnings beat expectations, with EPS of $0.70 versus $0.65 expected, while analysts currently rate the stock a Moderate Buy with a consensus target of $63.40.

SG Americas Securities LLC increased its stake in Cactus, Inc. (NYSE:WHD - Free Report) by 237.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,748 shares of the company's stock after purchasing an additional 55,390 shares during the period. SG Americas Securities LLC owned approximately 0.10% of Cactus worth $3,730,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its position in Cactus by 67.6% during the third quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company's stock valued at $25,000 after purchasing an additional 259 shares during the last quarter. Johnson Financial Group Inc. bought a new position in shares of Cactus in the 3rd quarter worth $33,000. Aster Capital Management DIFC Ltd raised its position in shares of Cactus by 73.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company's stock valued at $34,000 after buying an additional 314 shares in the last quarter. Huntington National Bank raised its position in shares of Cactus by 55.4% during the 3rd quarter. Huntington National Bank now owns 1,094 shares of the company's stock valued at $43,000 after buying an additional 390 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Cactus by 113.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company's stock worth $47,000 after acquiring an additional 543 shares during the last quarter. 85.11% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cactus

In related news, Director Alan Semple sold 10,206 shares of the business's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $56.62, for a total transaction of $577,863.72. Following the transaction, the director owned 29,444 shares in the company, valued at $1,667,119.28. The trade was a 25.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Y. Mcgovern sold 12,000 shares of the business's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $56.57, for a total transaction of $678,840.00. Following the transaction, the director owned 15,990 shares in the company, valued at $904,554.30. This represents a 42.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 12.91% of the company's stock.

Wall Street Analyst Weigh In

WHD has been the topic of a number of research analyst reports. Stifel Nicolaus reissued a "buy" rating and issued a $68.00 target price (up from $66.00) on shares of Cactus in a research note on Tuesday, June 16th. Piper Sandler lifted their price target on Cactus from $69.00 to $72.00 and gave the stock an "overweight" rating in a research note on Monday, May 18th. Citigroup upped their price objective on Cactus from $65.00 to $67.00 and gave the stock a "buy" rating in a report on Thursday, June 18th. Weiss Ratings upgraded Cactus from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, June 11th. Finally, Wall Street Zen lowered Cactus from a "buy" rating to a "hold" rating in a research report on Saturday, March 21st. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $63.40.

Cactus Stock Performance

Shares of WHD stock opened at $49.70 on Tuesday. The stock has a fifty day moving average of $56.86 and a 200 day moving average of $53.17. Cactus, Inc. has a 52 week low of $33.20 and a 52 week high of $64.30. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of 46.88, a PEG ratio of 2.04 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.

Cactus (NYSE:WHD - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.05. Cactus had a net margin of 6.17% and a return on equity of 15.43%. The business had revenue of $388.35 million for the quarter, compared to the consensus estimate of $380.42 million. During the same period in the previous year, the firm earned $0.73 EPS. The company's quarterly revenue was up 38.5% compared to the same quarter last year. As a group, research analysts expect that Cactus, Inc. will post 2.88 earnings per share for the current year.

Cactus Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 1st were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. Cactus's payout ratio is presently 52.83%.

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. 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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