Bank of Montreal Can Takes Position in Cactus, Inc. (NYSE:WHD)

Bank of Montreal Can purchased a new stake in Cactus, Inc. (NYSE:WHD) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,726 shares of the company’s stock, valued at approximately $358,000.

A number of other hedge funds also recently made changes to their positions in the business. GAMMA Investing LLC increased its position in Cactus by 27.5% in the 1st quarter. GAMMA Investing LLC now owns 1,005 shares of the company’s stock valued at $50,000 after acquiring an additional 217 shares during the period. SG Americas Securities LLC bought a new stake in shares of Cactus during the 1st quarter worth about $115,000. Covestor Ltd lifted its stake in shares of Cactus by 251.8% in the first quarter. Covestor Ltd now owns 2,508 shares of the company’s stock worth $126,000 after buying an additional 1,795 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in Cactus in the 1st quarter worth approximately $182,000. Finally, Hennion & Walsh Asset Management Inc. bought a new position in shares of Cactus during the 1st quarter worth about $202,000. Institutional investors own 85.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WHD. Barclays increased their target price on shares of Cactus from $56.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Piper Sandler cut their price target on shares of Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Finally, Citigroup boosted their price objective on shares of Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. One equities 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’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $54.00.

Cactus Price Performance

Shares of NYSE WHD opened at $62.59 on Friday. Cactus, Inc. has a twelve month low of $37.58 and a twelve month high of $64.96. The company has a market cap of $4.98 billion, a PE ratio of 24.94, a price-to-earnings-growth ratio of 2.35 and a beta of 1.95. The business’s 50 day moving average price is $59.45 and its two-hundred day moving average price is $54.81. 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 (NYSE:WHD) last released its earnings results on Wednesday, July 31st. The company reported $0.81 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $276.76 million. During the same period in the prior year, the firm posted $0.84 EPS. Cactus’s quarterly revenue was down 5.0% on a year-over-year basis. On average, analysts predict that Cactus, Inc. will post 3.04 EPS for the current year.

Cactus Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.83%. This is a boost from Cactus’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Monday, August 26th. Cactus’s dividend payout ratio is presently 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.