Lazard Asset Management LLC Sells 33,789 Shares of Cactus, Inc. (NYSE:WHD)

Lazard Asset Management LLC lowered its stake in Cactus, Inc. (NYSE:WHD - Free Report) by 31.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 72,133 shares of the company's stock after selling 33,789 shares during the quarter. Lazard Asset Management LLC owned 0.09% of Cactus worth $4,207,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in WHD. First Trust Advisors LP raised its holdings in 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 during the last quarter. Federated Hermes Inc. bought a new position in shares of Cactus during the fourth quarter valued at about $19,235,000. Raymond James Financial Inc. bought a new position in shares of Cactus during the fourth quarter valued at about $16,377,000. Tudor Investment Corp ET AL boosted its holdings in shares of Cactus by 487.1% during the fourth quarter. Tudor Investment Corp ET AL now owns 282,271 shares of the company's stock worth $16,473,000 after purchasing an additional 234,191 shares during the period. Finally, Capital International Investors grew its stake in shares of Cactus by 14.8% in the fourth quarter. Capital International Investors now owns 1,686,858 shares of the company's stock worth $98,445,000 after purchasing an additional 218,004 shares during the last quarter. Hedge funds and other institutional investors own 85.11% of the company's stock.

Cactus Stock Down 1.6%

WHD stock traded down $0.69 during midday trading on Monday, hitting $42.98. The stock had a trading volume of 583,573 shares, compared to its average volume of 796,290. The business has a 50-day moving average of $41.36 and a two-hundred day moving average of $54.08. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of 15.24, a price-to-earnings-growth ratio of 5.13 and a beta of 1.50. Cactus, Inc. has a 52-week low of $33.80 and a 52-week high of $70.01.

Cactus (NYSE:WHD - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.03. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The firm had revenue of $280.32 million for the quarter, compared to the consensus estimate of $272.22 million. During the same period in the prior year, the firm earned $0.75 EPS. The company's revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts forecast that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, June 2nd will be given a $0.13 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.21%. Cactus's dividend payout ratio is currently 18.51%.

Analyst Upgrades and Downgrades

WHD has been the subject of several research analyst reports. Barclays dropped their price objective on Cactus from $54.00 to $51.00 and set an "equal weight" rating for the company in a report on Friday, May 2nd. Stifel Nicolaus dropped their price target on Cactus from $61.00 to $57.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Cactus from $54.00 to $52.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $52.33.

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.