Fisher Asset Management LLC Boosts Stake in Cactus, Inc. (NYSE:WHD)

Fisher Asset Management LLC lifted its holdings in Cactus, Inc. (NYSE:WHD) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 291,350 shares of the company’s stock after buying an additional 9,784 shares during the quarter. Fisher Asset Management LLC owned 0.37% of Cactus worth $13,227,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Congress Asset Management Co. MA boosted its stake in shares of Cactus by 23.8% in the fourth quarter. Congress Asset Management Co. MA now owns 127,640 shares of the company’s stock valued at $5,795,000 after buying an additional 24,517 shares in the last quarter. Wasatch Advisors LP boosted its stake in shares of Cactus by 11.5% in the fourth quarter. Wasatch Advisors LP now owns 960,177 shares of the company’s stock valued at $43,592,000 after buying an additional 98,733 shares in the last quarter. Quadrature Capital Ltd boosted its stake in shares of Cactus by 54.2% in the fourth quarter. Quadrature Capital Ltd now owns 27,748 shares of the company’s stock valued at $1,259,000 after buying an additional 9,752 shares in the last quarter. CenterBook Partners LP purchased a new stake in shares of Cactus in the fourth quarter valued at approximately $382,000. Finally, Keeley Teton Advisors LLC boosted its stake in shares of Cactus by 24.0% in the fourth quarter. Keeley Teton Advisors LLC now owns 98,118 shares of the company’s stock valued at $4,455,000 after buying an additional 18,962 shares in the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. Johnson Rice downgraded Cactus from a “buy” rating to an “accumulate” rating in a research report on Friday, May 31st. Bank of America boosted their target price on Cactus from $40.00 to $43.00 and gave the stock an “underperform” rating in a research report on Monday, April 15th. Barclays boosted their target price on Cactus from $55.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Finally, Benchmark reiterated a “hold” rating on shares of Cactus in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $55.14.

Insider Transactions at Cactus

In related news, EVP William D. Marsh sold 2,059 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $51.03, for a total value of $105,070.77. Following the completion of the transaction, the executive vice president now directly owns 1,852 shares in the company, valued at $94,507.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, President Joel Bender sold 358,458 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $51.10, for a total value of $18,317,203.80. Following the completion of the transaction, the president now directly owns 156,586 shares in the company, valued at $8,001,544.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William D. Marsh sold 2,059 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $51.03, for a total value of $105,070.77. Following the completion of the transaction, the executive vice president now owns 1,852 shares of the company’s stock, valued at $94,507.56. The disclosure for this sale can be found here. Insiders sold a total of 602,059 shares of company stock valued at $30,948,949 over the last three months. 16.84% of the stock is currently owned by insiders.

Cactus Stock Performance

NYSE WHD opened at $51.65 on Wednesday. Cactus, Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $57.00. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 20.58, a price-to-earnings-growth ratio of 1.65 and a beta of 1.94. The business has a fifty day moving average of $50.84 and a 200-day moving average of $46.86. The company has a quick ratio of 2.17, a current ratio of 3.24 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Cactus had a return on equity of 22.46% and a net margin of 14.46%. The company had revenue of $274.12 million during the quarter, compared to analysts’ expectations of $270.70 million. During the same period in the previous year, the firm posted $0.64 earnings per share. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, analysts predict that Cactus, Inc. will post 2.94 earnings per share for the current fiscal year.

Cactus Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, May 28th were issued a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, May 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.93%. Cactus’s dividend payout ratio (DPR) is 19.12%.

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.