US Bancorp DE Trims Stake in Cactus, Inc. (NYSE:WHD)

US Bancorp DE lessened its stake in shares of Cactus, Inc. (NYSE:WHD) by 22.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,648 shares of the company’s stock after selling 5,343 shares during the quarter. US Bancorp DE’s holdings in Cactus were worth $1,088,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Bridgewater Associates LP acquired a new stake in shares of Cactus during the third quarter valued at $9,501,000. Principal Financial Group Inc. lifted its holdings in Cactus by 4.4% in the 4th quarter. Principal Financial Group Inc. now owns 357,313 shares of the company’s stock valued at $20,853,000 after purchasing an additional 15,035 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Cactus by 1.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,102,984 shares of the company’s stock worth $185,155,000 after purchasing an additional 52,085 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of Cactus by 2.7% during the fourth quarter. New York State Common Retirement Fund now owns 183,077 shares of the company’s stock worth $10,684,000 after buying an additional 4,890 shares in the last quarter. Finally, Citigroup Inc. grew its holdings in shares of Cactus by 81.2% during the third quarter. Citigroup Inc. now owns 89,464 shares of the company’s stock worth $5,338,000 after buying an additional 40,099 shares in the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Analysts Set New Price Targets

Separately, Barclays reduced their price objective on shares of Cactus from $61.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $55.00.

Cactus Stock Up 1.0 %

WHD opened at $47.36 on Monday. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 16.79, a price-to-earnings-growth ratio of 5.13 and a beta of 2.05. Cactus, Inc. has a 12 month low of $45.94 and a 12 month high of $70.01. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67. The business has a 50-day moving average of $58.91 and a two-hundred day moving average of $60.69.

Cactus (NYSE:WHD) last released its earnings results on Wednesday, February 26th. The company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.01). The company had revenue of $272.12 million during the quarter, compared to analysts’ expectations of $277.59 million. Cactus had a net margin of 16.57% and a return on equity of 20.24%. On average, research analysts expect that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 3rd will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Monday, March 3rd. Cactus’s dividend payout ratio (DPR) is currently 18.84%.

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.