State Board of Administration of Florida Retirement System raised its stake in Cactus, Inc. (NYSE:WHD – Get Rating) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,759 shares of the company’s stock after purchasing an additional 320 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Cactus were worth $792,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in WHD. Public Employees Retirement System of Ohio increased its stake in Cactus by 59.9% in the third quarter. Public Employees Retirement System of Ohio now owns 678 shares of the company’s stock valued at $26,000 after purchasing an additional 254 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in Cactus in the second quarter valued at approximately $39,000. IFP Advisors Inc boosted its holdings in shares of Cactus by 286.6% in the third quarter. IFP Advisors Inc now owns 1,330 shares of the company’s stock valued at $46,000 after acquiring an additional 986 shares during the period. Captrust Financial Advisors boosted its holdings in shares of Cactus by 48.1% in the second quarter. Captrust Financial Advisors now owns 2,120 shares of the company’s stock valued at $85,000 after acquiring an additional 689 shares during the period. Finally, CWM LLC boosted its holdings in shares of Cactus by 6.2% in the fourth quarter. CWM LLC now owns 3,232 shares of the company’s stock valued at $162,000 after acquiring an additional 189 shares during the period. 83.06% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, CAO Donna L. Anderson sold 2,985 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $47.83, for a total transaction of $142,772.55. Following the completion of the sale, the chief accounting officer now directly owns 3,262 shares of the company’s stock, valued at $156,021.46. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 17.72% of the company’s stock.
Cactus Price Performance
Cactus (NYSE:WHD – Get Rating) last issued its quarterly earnings results on Tuesday, May 9th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.08. Cactus had a return on equity of 19.95% and a net margin of 17.18%. The firm had revenue of $228.40 million during the quarter, compared to the consensus estimate of $217.45 million. During the same period last year, the company earned $0.30 earnings per share. The company’s revenue for the quarter was up 56.5% on a year-over-year basis. Sell-side analysts forecast that Cactus, Inc. will post 2.6 EPS for the current year.
Cactus Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Tuesday, May 30th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Friday, May 26th. Cactus’s dividend payout ratio is presently 21.15%.
Analyst Ratings Changes
Several research firms have recently weighed in on WHD. Barclays decreased their price objective on Cactus from $50.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, February 28th. Benchmark began coverage on Cactus in a report on Thursday, January 19th. They issued a “buy” rating and a $70.00 price objective for the company. Finally, Citigroup decreased their price objective on Cactus from $52.00 to $48.00 and set a “neutral” rating for the company in a report on Wednesday, April 5th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Cactus currently has a consensus rating of “Hold” and an average target price of $55.60.
Cactus, Inc is a holding company, which engages in the design, manufacture and sale of wellhead and pressure control equipment. Its products include Cactus SafeDrill wellhead systems as well as frac stacks, Cactus SafeLink monobore, SafeClamp and SafeInject systems. It also offers field services for its products and rental items to assist with the installation, maintenance, and handling of the wellhead and pressure control equipment.
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