Allspring Global Investments Holdings LLC Has $11.27 Million Stock Position in Cactus, Inc. (NYSE:WHD)

Allspring Global Investments Holdings LLC decreased its stake in shares of Cactus, Inc. (NYSE:WHD) by 19.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 189,468 shares of the company’s stock after selling 47,171 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.24% of Cactus worth $11,273,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of Cactus by 1.7% in the third quarter. JPMorgan Chase & Co. now owns 3,102,984 shares of the company’s stock valued at $185,155,000 after purchasing an additional 52,085 shares during the last quarter. State Street Corp grew its stake in Cactus by 3.0% in the 3rd quarter. State Street Corp now owns 2,755,757 shares of the company’s stock valued at $164,436,000 after buying an additional 81,149 shares during the last quarter. Boston Trust Walden Corp grew its stake in Cactus by 0.6% in the 4th quarter. Boston Trust Walden Corp now owns 1,797,489 shares of the company’s stock valued at $104,901,000 after buying an additional 9,884 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Cactus by 6.5% in the third quarter. Geode Capital Management LLC now owns 1,758,286 shares of the company’s stock valued at $104,934,000 after purchasing an additional 106,819 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Cactus by 3.9% in the third quarter. Victory Capital Management Inc. now owns 761,745 shares of the company’s stock valued at $45,453,000 after purchasing an additional 28,663 shares during the last quarter. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Cactus Trading Down 0.2 %

NYSE WHD opened at $59.99 on Tuesday. The firm has a market capitalization of $4.77 billion, a P/E ratio of 21.27, a PEG ratio of 5.14 and a beta of 1.97. The business has a fifty day simple moving average of $60.52 and a 200 day simple moving average of $61.16. Cactus, Inc. has a 12 month low of $43.24 and a 12 month high of $70.01. The company has a current ratio of 3.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.01.

Cactus Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, March 3rd. Cactus’s dividend payout ratio is presently 18.44%.

Analyst Ratings Changes

Separately, Barclays lowered shares of Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 target price on the stock. in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $56.40.

About Cactus

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.