Wasatch Advisors LP Has $63.92 Million Position in Cactus, Inc. $WHD

Key Points

• Wasatch Advisors LP increased its Cactus stake by 79% in Q1, ending with 1,349,420 shares worth about $63.9 million.
• Analysts remain generally positive on Cactus: the stock carries a Moderate Buy consensus, with several firms recently raising price targets into the $68-$72 range.
• Cactus reported better-than-expected Q1 results, with EPS of $0.70 topping estimates and revenue rising 38.5% year over year; the company also paid a quarterly dividend of $0.14 per share.

Wasatch Advisors LP raised its stake in Cactus, Inc. (NYSE:WHD - Free Report) by 79.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,349,420 shares of the company's stock after acquiring an additional 595,562 shares during the period. Wasatch Advisors LP owned approximately 1.69% of Cactus worth $63,922,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in shares of Cactus by 20.0% during the 4th quarter. Wellington Management Group LLP now owns 3,963,961 shares of the company's stock worth $181,074,000 after purchasing an additional 659,366 shares in the last quarter. State Street Corp raised its stake in Cactus by 3.0% in the fourth quarter. State Street Corp now owns 2,844,994 shares of the company's stock valued at $129,959,000 after purchasing an additional 83,190 shares in the last quarter. Capital International Investors lifted its position in Cactus by 27.0% during the fourth quarter. Capital International Investors now owns 2,343,731 shares of the company's stock worth $107,062,000 after purchasing an additional 498,210 shares during the period. Geode Capital Management LLC lifted its position in Cactus by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 1,964,059 shares of the company's stock worth $89,729,000 after purchasing an additional 28,415 shares during the period. Finally, First Trust Advisors LP grew its stake in Cactus by 17.4% during the fourth quarter. First Trust Advisors LP now owns 1,839,336 shares of the company's stock worth $84,021,000 after buying an additional 272,452 shares in the last quarter. 85.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Stifel Nicolaus reissued a "buy" rating and issued a $68.00 target price (up from $66.00) on shares of Cactus in a report on Tuesday, June 16th. Piper Sandler upped their price target on shares of Cactus from $69.00 to $72.00 and gave the stock an "overweight" rating in a report on Monday, May 18th. Weiss Ratings upgraded shares of Cactus from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, June 11th. Wall Street Zen cut shares of Cactus from a "buy" rating to a "hold" rating in a research note on Saturday, March 21st. Finally, Barclays boosted their price objective on shares of Cactus from $62.00 to $70.00 and gave the company an "overweight" rating in a research report on Monday, May 11th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $63.40.

Insider Buying and Selling

In other Cactus news, Director Alan Semple sold 10,206 shares of the business's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $56.62, for a total transaction of $577,863.72. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael Y. Mcgovern sold 12,000 shares of the company's stock in a transaction on Tuesday, May 12th. The stock was 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 of the company's stock, valued at $904,554.30. This trade represents a 42.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 12.91% of the stock is owned by corporate insiders.

Cactus Stock Performance

NYSE:WHD opened at $51.98 on Friday. Cactus, Inc. has a twelve month low of $33.20 and a twelve month high of $64.30. 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 stock's 50-day simple moving average is $56.94 and its 200 day simple moving average is $53.08. The firm has a market capitalization of $4.17 billion, a PE ratio of 49.04, a price-to-earnings-growth ratio of 2.10 and a beta of 1.37.

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

Cactus Announces Dividend

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