Public Sector Pension Investment Board Takes $7.63 Million Position in Cactus, Inc. (NYSE:WHD)

Public Sector Pension Investment Board bought a new position in shares of Cactus, Inc. (NYSE:WHD) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 144,607 shares of the company’s stock, valued at approximately $7,627,000. Public Sector Pension Investment Board owned about 0.18% of Cactus at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in WHD. Gilbert & Cook Inc. grew its stake in shares of Cactus by 10.3% during the fourth quarter. Gilbert & Cook Inc. now owns 13,664 shares of the company’s stock worth $620,000 after acquiring an additional 1,272 shares during the last quarter. Principal Securities Inc. acquired a new stake in Cactus in the 4th quarter worth approximately $30,000. Dimensional Fund Advisors LP grew its position in Cactus by 7.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,049,429 shares of the company’s stock worth $47,645,000 after purchasing an additional 73,704 shares during the last quarter. Principal Financial Group Inc. increased its stake in Cactus by 10.7% during the 4th quarter. Principal Financial Group Inc. now owns 7,484 shares of the company’s stock valued at $340,000 after purchasing an additional 726 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Cactus in the fourth quarter worth $20,204,000. 85.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WHD. Piper Sandler dropped 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. Citigroup boosted their price target on Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Johnson Rice lowered Cactus from a “buy” rating to an “accumulate” rating in a report on Friday, May 31st. Finally, Barclays lifted 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Cactus has a consensus rating of “Hold” and an average price target of $54.00.

Cactus Stock Performance

NYSE WHD opened at $63.06 on Wednesday. The firm has a market capitalization of $5.02 billion, a P/E ratio of 25.12, a PEG ratio of 2.30 and a beta of 1.95. The stock has a 50-day simple moving average of $59.09 and a two-hundred day simple moving average of $53.77. 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, Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $64.96.

Cactus (NYSE:WHD) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $276.76 million. During the same period last year, the business earned $0.84 earnings per share. Cactus’s quarterly revenue was down 5.0% on a year-over-year basis. On average, equities analysts forecast that Cactus, Inc. will post 3.04 earnings per share for the current year.

Cactus Increases Dividend

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

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.