Truist Financial Corp Buys 733 Shares of Cactus, Inc. (NYSE:WHD)

Truist Financial Corp lifted its stake in Cactus, Inc. (NYSE:WHD) by 15.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,618 shares of the company’s stock after acquiring an additional 733 shares during the quarter. Truist Financial Corp’s holdings in Cactus were worth $296,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in WHD. Pacer Advisors Inc. purchased a new stake in Cactus in the second quarter worth approximately $122,623,000. Makaira Partners LLC boosted its stake in shares of Cactus by 399.6% in the 2nd quarter. Makaira Partners LLC now owns 499,581 shares of the company’s stock worth $26,348,000 after buying an additional 399,581 shares during the last quarter. Wasatch Advisors LP grew its holdings in shares of Cactus by 39.1% in the first quarter. Wasatch Advisors LP now owns 1,336,006 shares of the company’s stock worth $66,921,000 after acquiring an additional 375,829 shares during the period. Principal Financial Group Inc. increased its position in Cactus by 3,604.5% during the second quarter. Principal Financial Group Inc. now owns 326,518 shares of the company’s stock valued at $17,221,000 after acquiring an additional 317,704 shares during the last quarter. Finally, Barlow Wealth Partners Inc. bought a new position in Cactus in the second quarter valued at about $14,553,000. 85.11% of the stock is owned by hedge funds and other institutional investors.

Cactus Stock Performance

WHD opened at $59.51 on Friday. The company has a 50 day simple moving average of $59.82 and a two-hundred day simple moving average of $55.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.75 and a quick ratio of 2.59. The firm has a market cap of $4.73 billion, a P/E ratio of 23.96, a PEG ratio of 2.30 and a beta of 1.95. Cactus, Inc. has a 1-year low of $37.58 and a 1-year high of $64.96.

Cactus (NYSE:WHD) last issued its earnings results on Wednesday, July 31st. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.09. The company had revenue of $290.39 million during the quarter, compared to the consensus estimate of $276.76 million. Cactus had a net margin of 16.88% and a return on equity of 21.22%. Cactus’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 EPS. Equities analysts forecast that Cactus, Inc. will post 3.04 earnings per share for the current fiscal year.

Cactus Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.87%. The ex-dividend date was Monday, August 26th. This is an increase from Cactus’s previous quarterly dividend of $0.12. Cactus’s dividend payout ratio (DPR) is 20.72%.

Analysts Set New Price Targets

A number of research firms have issued reports on WHD. Piper Sandler cut their price target on Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Stifel Nicolaus cut their target price on shares of Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Citigroup increased their price target on shares of Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Bank of America boosted their price objective on shares of Cactus from $44.00 to $48.00 and gave the company an “underperform” rating in a research report on Monday, October 14th. Finally, Barclays raised 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 investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Cactus presently has an average rating of “Hold” and a consensus target price of $56.40.

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.