State of New Jersey Common Pension Fund D Sells 22,289 Shares of Cactus, Inc. (NYSE:WHD)

State of New Jersey Common Pension Fund D trimmed its position in Cactus, Inc. (NYSE:WHD) by 37.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,437 shares of the company’s stock after selling 22,289 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Cactus were worth $1,974,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Cactus by 0.8% in the first quarter. Vanguard Group Inc. now owns 6,571,806 shares of the company’s stock valued at $329,182,000 after purchasing an additional 53,142 shares in the last quarter. Boston Trust Walden Corp raised its holdings in Cactus by 1.3% during the second quarter. Boston Trust Walden Corp now owns 1,955,227 shares of the company’s stock worth $103,119,000 after acquiring an additional 25,839 shares in the last quarter. Wasatch Advisors LP raised its holdings in Cactus by 39.1% during 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 in the last quarter. Capital International Investors raised its holdings in Cactus by 3.9% during the first quarter. Capital International Investors now owns 1,293,233 shares of the company’s stock worth $64,778,000 after acquiring an additional 48,379 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Cactus by 7.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,049,429 shares of the company’s stock worth $47,645,000 after acquiring an additional 73,704 shares in the last quarter. 85.11% of the stock is currently owned by institutional investors.

Cactus Price Performance

Shares of NYSE WHD opened at $63.46 on Friday. The business’s 50 day moving average price is $58.96 and its two-hundred day moving average price is $53.48. The company has a market cap of $5.05 billion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 2.15 and a beta of 1.95. 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, Inc. has a twelve month low of $37.58 and a twelve month 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, topping analysts’ consensus estimates of $0.72 by $0.09. The firm had revenue of $290.39 million for the quarter, compared to the consensus estimate of $276.76 million. Cactus had a return on equity of 21.22% and a net margin of 16.88%. The business’s revenue was down 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.84 earnings per share. On average, analysts predict that Cactus, Inc. will post 3.03 EPS for the current year.

Cactus Increases Dividend

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

Analyst Upgrades and Downgrades

WHD has been the topic of several analyst reports. 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. Citigroup upped their target price on Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Piper Sandler dropped their target price on Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Finally, Johnson Rice lowered Cactus from a “buy” rating to an “accumulate” rating in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $54.00.

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.