Vest Financial LLC Boosts Holdings in Cactus, Inc. $WHD

Key Points

• Vest Financial LLC increased its stake in Cactus, Inc. (NYSE:WHD) by 24.7% in Q4 to 134,568 shares, valued at about $6.15 million (≈0.17% of the company).
• Company insiders have been net sellers: President Joel Bender sold 106,809 shares on March 10 (about $5.33M), and insiders sold 200,000 shares (~$10.04M) over the last three months, leaving insiders with 12.91% ownership.
• Analyst sentiment is mixed but slightly positive, with a consensus rating of "Moderate Buy" and an average price target of $56.33, while recent upgrades include Barclays, Citigroup and Piper Sandler (the latter set a $73 target).

Vest Financial LLC raised its position in Cactus, Inc. (NYSE:WHD - Free Report) by 24.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 134,568 shares of the company's stock after acquiring an additional 26,669 shares during the period. Vest Financial LLC owned approximately 0.17% of Cactus worth $6,147,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in WHD. Wellington Management Group LLP lifted its holdings in shares of Cactus by 52.8% in the 3rd quarter. Wellington Management Group LLP now owns 3,304,595 shares of the company's stock valued at $130,432,000 after buying an additional 1,141,249 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of Cactus in the second quarter valued at about $30,648,000. Capital Research Global Investors purchased a new stake in Cactus during the third quarter worth about $19,563,000. Ameriprise Financial Inc. grew its position in Cactus by 130.7% during the second quarter. Ameriprise Financial Inc. now owns 694,149 shares of the company's stock worth $30,340,000 after buying an additional 393,260 shares during the period. Finally, SIR Capital Management L.P. acquired a new position in Cactus during the third quarter worth about $12,319,000. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cactus

In other news, President Joel Bender sold 106,809 shares of Cactus stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $49.92, for a total transaction of $5,331,905.28. Following the sale, the president owned 27,793 shares in the company, valued at $1,387,426.56. This trade represents a 79.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 200,000 shares of company stock valued at $10,039,080 over the last three months. 12.91% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Cactus Price Performance

WHD opened at $55.95 on Wednesday. Cactus, Inc. has a 1 year low of $33.20 and a 1 year high of $59.25. The company's 50 day simple moving average is $51.39 and its 200 day simple moving average is $48.45. The stock has a market capitalization of $4.47 billion, a PE ratio of 23.31, a P/E/G ratio of 2.44 and a beta of 1.31. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.13 and a current ratio of 5.81.

Cactus (NYSE:WHD - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.65 EPS 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 during the quarter, compared to the consensus estimate of $250.60 million. During the same period in the prior year, the firm posted $0.71 EPS. The business's revenue for the quarter was down 4.0% on a year-over-year basis. As a group, sell-side analysts expect that Cactus, Inc. will post 2.53 EPS for the current year.

Cactus Announces Dividend

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

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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