VELA Investment Management LLC Has $6.67 Million Position in Cactus, Inc. $WHD

Key Points

• VELA Investment Management LLC boosted its stake in Cactus (NYSE:WHD) by 24.2% to 146,042 shares — worth about $6.67 million and representing roughly 1.6% of VELA’s portfolio (its 11th largest position).
• Joel Bender, Cactus’s president, sold 106,809 shares on March 10 (a 79.35% reduction in his holdings); insiders have disposed of about 200,000 shares totaling roughly $10.0 million in the past 90 days.
• Cactus reported Q4 EPS of $0.65 versus estimates of $0.58 despite revenue declining 4% year‑over‑year, pays a $0.14 quarterly dividend (1.0% yield), and holds a consensus analyst rating of Moderate Buy with an average price target of $56.33.

VELA Investment Management LLC boosted its stake in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 24.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 146,042 shares of the company's stock after buying an additional 28,493 shares during the quarter. Cactus makes up approximately 1.6% of VELA Investment Management LLC's portfolio, making the stock its 11th biggest position. VELA Investment Management LLC owned 0.18% of Cactus worth $6,671,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its holdings in Cactus by 67.6% during 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% during 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. California State Teachers Retirement System lifted its holdings in Cactus by 0.5% during 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. Wealth Enhancement Advisory Services LLC lifted its holdings in Cactus by 4.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,687 shares of the company's stock worth $384,000 after buying an additional 308 shares during the period. Finally, Arizona State Retirement System lifted its holdings in Cactus by 1.6% during the 3rd quarter. Arizona State Retirement System now owns 20,258 shares of the company's stock worth $800,000 after buying an additional 321 shares during the period. 85.11% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, President Joel Bender sold 106,809 shares of the company's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $49.92, for a total transaction of $5,331,905.28. Following the transaction, the president directly owned 27,793 shares of the company's stock, valued at approximately $1,387,426.56. This represents a 79.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 200,000 shares of company stock worth $10,039,080. 12.91% of the stock is currently owned by corporate insiders.

Cactus Stock Down 1.7%

Shares of NYSE:WHD opened at $54.79 on Friday. The business's 50-day moving average is $51.28 and its 200-day moving average is $48.64. Cactus, Inc. has a 1 year low of $33.20 and a 1 year high of $59.25. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.81 and a quick ratio of 4.13. The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of 22.83, a P/E/G ratio of 2.35 and a beta of 1.37.

Cactus (NYSE:WHD - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.07. Cactus had a return on equity of 15.18% and a net margin of 15.39%.The business had revenue of $261.20 million for the quarter, compared to the consensus estimate of $250.60 million. During the same period in the prior year, the business earned $0.71 EPS. The firm's revenue for the quarter was down 4.0% on a year-over-year basis. Equities research analysts predict that Cactus, Inc. will post 2.53 earnings per share for the current year.

Cactus Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Monday, March 2nd were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Monday, March 2nd. Cactus's dividend payout ratio is 23.33%.

Analyst Ratings Changes

Several research analysts have commented on WHD shares. Piper Sandler started coverage on Cactus in a report on Tuesday, February 24th. They set an "overweight" rating and a $73.00 target price on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Cactus in a report on Friday, March 27th. Barclays lifted their target price on Cactus from $56.00 to $62.00 and gave the stock an "overweight" rating in a report on Monday, March 2nd. Citigroup lifted their target price on Cactus from $55.00 to $63.00 and gave the stock a "buy" rating in a report on Tuesday, March 3rd. Finally, Wall Street Zen downgraded Cactus from a "buy" rating to a "hold" rating in a report on Saturday, March 21st. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.33.

Cactus Company 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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