Cactus, Inc. (NYSE:WHD) Shares Bought by Arizona State Retirement System

Arizona State Retirement System grew its stake in shares of Cactus, Inc. (NYSE:WHDFree Report) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,375 shares of the company’s stock after purchasing an additional 273 shares during the quarter. Arizona State Retirement System’s holdings in Cactus were worth $923,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Invesco Ltd. grew its holdings in Cactus by 510.9% in the 1st quarter. Invesco Ltd. now owns 864,909 shares of the company’s stock worth $49,075,000 after buying an additional 723,339 shares in the last quarter. Wellington Management Group LLP lifted its position in Cactus by 53.5% in the first quarter. Wellington Management Group LLP now owns 1,352,737 shares of the company’s stock worth $76,755,000 after purchasing an additional 471,418 shares during the period. Norges Bank acquired a new stake in Cactus in the fourth quarter worth approximately $23,617,000. State Street Corp lifted its position in Cactus by 25.5% in the first quarter. State Street Corp now owns 1,816,969 shares of the company’s stock worth $74,914,000 after purchasing an additional 369,003 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Cactus by 12.1% in the second quarter. Bank of New York Mellon Corp now owns 2,648,062 shares of the company’s stock worth $112,066,000 after purchasing an additional 286,714 shares during the period. 85.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on WHD shares. Piper Sandler cut their target price on Cactus from $59.00 to $55.00 and set a “neutral” rating for the company in a research report on Monday, November 13th. Benchmark downgraded Cactus from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Bank of America downgraded Cactus from a “neutral” rating to an “underperform” rating and upped their target price for the stock from $46.00 to $47.00 in a research report on Monday, October 16th. Stifel Nicolaus cut their price objective on Cactus from $68.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, January 3rd. Finally, Barclays cut their price objective on Cactus from $60.00 to $57.00 and set an “overweight” rating for the company in a research report on Tuesday, November 14th. One research 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. According to MarketBeat.com, Cactus currently has an average rating of “Hold” and a consensus price target of $55.86.

View Our Latest Research Report on WHD

Cactus Trading Up 3.6 %

Shares of NYSE:WHD opened at $42.47 on Wednesday. The company has a market cap of $3.37 billion, a P/E ratio of 18.39, a P/E/G ratio of 6.77 and a beta of 1.96. The stock’s 50-day moving average is $42.37 and its 200-day moving average is $46.84. Cactus, Inc. has a 52-week low of $31.36 and a 52-week high of $57.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.63 and a current ratio of 2.78.

Cactus (NYSE:WHDGet Free Report) last released its earnings results on Wednesday, November 8th. The company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.01). Cactus had a return on equity of 23.99% and a net margin of 14.97%. The firm had revenue of $287.80 million for the quarter, compared to analyst estimates of $288.20 million. During the same period last year, the business earned $0.52 earnings per share. The firm’s quarterly revenue was up 56.0% compared to the same quarter last year. Equities research analysts predict that Cactus, Inc. will post 2.96 earnings per share for the current year.

Cactus Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 14th. Investors of record on Monday, February 26th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Friday, February 23rd. Cactus’s dividend payout ratio (DPR) is presently 20.78%.

Cactus Profile

(Free Report)

Cactus, Inc designs, manufactures, and sells a range of wellheads and pressure control equipment in the United States, Australia, China, and the Kingdom of Saudi Arabia. The company's principal products include Cactus SafeDrill wellhead systems, Cactus SafeLink monobore, SafeClamp, and SafeInject systems, as well as frac stacks, zipper manifolds, and production trees.

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Institutional Ownership by Quarter for Cactus (NYSE:WHD)

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