Pacer Advisors Inc. Invests $122.62 Million in Cactus, Inc. (NYSE:WHD)

Pacer Advisors Inc. acquired a new position in Cactus, Inc. (NYSE:WHD) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,325,050 shares of the company’s stock, valued at approximately $122,623,000. Pacer Advisors Inc. owned 2.92% of Cactus at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in WHD. First Trust Advisors LP increased its holdings in Cactus by 595.4% during the fourth quarter. First Trust Advisors LP now owns 683,051 shares of the company’s stock valued at $31,011,000 after buying an additional 584,831 shares during the period. Public Employees Retirement Association of Colorado increased its holdings in shares of Cactus by 3,350.2% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 513,417 shares of the company’s stock valued at $23,309,000 after acquiring an additional 498,536 shares during the period. Norges Bank bought a new position in shares of Cactus in the 4th quarter worth $20,204,000. Wasatch Advisors LP lifted its stake in shares of Cactus by 39.1% during the 1st quarter. Wasatch Advisors LP now owns 1,336,006 shares of the company’s stock worth $66,921,000 after purchasing an additional 375,829 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Cactus by 3,604.5% during the 2nd quarter. Principal Financial Group Inc. now owns 326,518 shares of the company’s stock worth $17,221,000 after purchasing an additional 317,704 shares during the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Cactus Stock Up 1.6 %

WHD stock opened at $63.46 on Friday. The firm’s fifty day moving average is $58.96 and its 200 day moving average is $53.42. The firm has a market cap of $5.05 billion, a PE ratio of 25.28, a P/E/G ratio of 2.15 and a beta of 1.95. Cactus, Inc. has a one year low of $37.58 and a one year high of $64.96. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.59 and a current ratio of 3.75.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.09. Cactus had a net margin of 16.88% and a return on equity of 21.22%. The firm had revenue of $290.39 million for the quarter, compared to analyst estimates of $276.76 million. During the same period last year, the company posted $0.84 EPS. Cactus’s quarterly revenue was down 5.0% compared to the same quarter last year. On average, research analysts forecast that Cactus, Inc. will post 3.03 EPS for the current year.

Cactus Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.82%. This is a boost from Cactus’s previous quarterly dividend of $0.12. The ex-dividend date was Monday, August 26th. Cactus’s payout ratio is presently 20.72%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Johnson Rice lowered Cactus from a “buy” rating to an “accumulate” rating in a research note on Friday, May 31st. Citigroup boosted their price objective on shares of Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Barclays raised their price target on Cactus from $56.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, Piper Sandler cut their price objective on shares of Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $54.00.

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.