Public Employees Retirement Association of Colorado Has $22.63 Million Stock Position in Cactus, Inc. (NYSE:WHD)

Public Employees Retirement Association of Colorado cut its holdings in shares of Cactus, Inc. (NYSE:WHD) by 0.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 428,990 shares of the company’s stock after selling 1,538 shares during the period. Public Employees Retirement Association of Colorado owned about 0.54% of Cactus worth $22,625,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Principal Securities Inc. bought a new stake in shares of Cactus during the 4th quarter worth $30,000. GAMMA Investing LLC lifted its holdings in shares of Cactus by 27.5% in the first quarter. GAMMA Investing LLC now owns 1,005 shares of the company’s stock worth $50,000 after acquiring an additional 217 shares during the last quarter. TFO Wealth Partners LLC boosted its stake in shares of Cactus by 221,300.0% in the 4th quarter. TFO Wealth Partners LLC now owns 2,214 shares of the company’s stock valued at $101,000 after purchasing an additional 2,213 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Cactus during the 1st quarter valued at approximately $115,000. Finally, Covestor Ltd increased its position in Cactus by 251.8% during the 1st quarter. Covestor Ltd now owns 2,508 shares of the company’s stock worth $126,000 after purchasing an additional 1,795 shares in the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

Analyst Upgrades and Downgrades

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

Cactus Stock Up 1.6 %

Shares of NYSE:WHD opened at $63.46 on Friday. The firm has a market cap of $5.05 billion, a P/E ratio of 25.28, a P/E/G ratio of 2.15 and a beta of 1.95. Cactus, Inc. has a 12-month low of $37.58 and a 12-month high of $64.96. The business has a fifty day simple moving average of $58.96 and a 200 day simple moving average of $53.42. The company has a quick ratio of 2.59, a current ratio of 3.75 and a debt-to-equity ratio of 0.01.

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

Cactus Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were paid a $0.13 dividend. This is a positive change from Cactus’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend was Monday, August 26th. Cactus’s dividend payout ratio is currently 20.72%.

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.