Vanguard Group Inc. Lowers Stake in Cactus, Inc. (NYSE:WHD)

Key Points

• Vanguard Group Inc. has decreased its stake in Cactus, Inc. by 2.3%, now owning 7,500,647 shares valued at approximately $343.8 million.
• Cactus recently announced an increase in its quarterly dividend from $0.13 to $0.14 per share, reflecting a positive change in its financial position.
• Wall Street analysts have downgraded Cactus’s rating, with a consensus opinion of "Hold" and a targeted share price of $50.75.

Vanguard Group Inc. lowered its stake in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,500,647 shares of the company's stock after selling 180,084 shares during the quarter. Vanguard Group Inc. owned 9.42% of Cactus worth $343,755,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in WHD. Pacer Advisors Inc. raised its position in shares of Cactus by 10,002.6% during the 1st quarter. Pacer Advisors Inc. now owns 458,053 shares of the company's stock valued at $20,993,000 after buying an additional 453,519 shares in the last quarter. First Trust Advisors LP raised its position in shares of Cactus by 34.6% during the 4th quarter. First Trust Advisors LP now owns 1,556,565 shares of the company's stock valued at $90,841,000 after buying an additional 400,452 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Cactus during the 4th quarter valued at $16,377,000. Point72 Asset Management L.P. purchased a new stake in shares of Cactus during the 4th quarter valued at $14,285,000. Finally, Tudor Investment Corp ET AL raised its position in shares of Cactus by 487.1% during the 4th quarter. Tudor Investment Corp ET AL now owns 282,271 shares of the company's stock valued at $16,473,000 after buying an additional 234,191 shares in the last quarter. Hedge funds and other institutional investors own 85.11% of the company's stock.

Wall Street Analysts Forecast Growth

WHD has been the topic of a number of analyst reports. Wall Street Zen cut shares of Cactus from a "hold" rating to a "sell" rating in a research report on Saturday. JPMorgan Chase & Co. decreased their target price on shares of Cactus from $52.00 to $50.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Stifel Nicolaus decreased their target price on shares of Cactus from $57.00 to $53.00 and set a "buy" rating on the stock in a research report on Friday, August 1st. Finally, Barclays reiterated an "overweight" rating and issued a $52.00 target price (down previously from $53.00) on shares of Cactus in a research report on Monday, August 4th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Cactus has a consensus rating of "Hold" and a consensus price target of $50.75.

Cactus Stock Down 1.8%

Shares of Cactus stock opened at $39.70 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.48 and a current ratio of 4.85. The stock has a market capitalization of $3.17 billion, a PE ratio of 14.98, a price-to-earnings-growth ratio of 3.73 and a beta of 1.48. Cactus, Inc. has a 52-week low of $33.80 and a 52-week high of $70.01. The company has a 50-day simple moving average of $43.94 and a two-hundred day simple moving average of $45.37.

Cactus (NYSE:WHD - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). The company had revenue of $273.58 million for the quarter, compared to analysts' expectations of $280.28 million. Cactus had a net margin of 16.19% and a return on equity of 17.34%. The firm's revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 earnings per share. On average, analysts anticipate that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, August 29th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, August 29th. This is a positive change from Cactus's previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a yield of 1.4%. Cactus's payout ratio is currently 19.62%.

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.

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