Voloridge Investment Management LLC Raises Holdings in Cactus Inc (NYSE:WHD)
Voloridge Investment Management LLC grew its position in shares of Cactus Inc (NYSE:WHD) by 46.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 45,413 shares of the company’s stock after purchasing an additional 14,324 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.06% of Cactus worth $527,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of WHD. Advisor Group Holdings Inc. purchased a new position in shares of Cactus during the first quarter worth about $26,000. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Cactus by 1,825.0% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,309 shares of the company’s stock worth $45,000 after purchasing an additional 1,241 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new position in shares of Cactus during the fourth quarter worth about $51,000. Fifth Third Bancorp purchased a new position in shares of Cactus during the first quarter worth about $51,000. Finally, Great West Life Assurance Co. Can purchased a new position in shares of Cactus during the fourth quarter worth about $116,000. 63.89% of the stock is currently owned by institutional investors.
WHD has been the topic of several research reports. Raymond James raised their price objective on Cactus from $15.00 to $22.00 and gave the stock a “strong-buy” rating in a report on Thursday, April 9th. Stephens raised their price target on Cactus from $17.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Piper Sandler lowered their price target on Cactus from $30.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, April 15th. Stifel Nicolaus began coverage on Cactus in a report on Thursday, June 4th. They set a “hold” rating and a $20.00 price target on the stock. Finally, Citigroup raised their price target on Cactus from $14.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $19.82.
Cactus (NYSE:WHD) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.06. Cactus had a return on equity of 18.65% and a net margin of 12.47%. The company had revenue of $154.14 million for the quarter, compared to analyst estimates of $141.89 million. During the same quarter in the previous year, the company earned $0.49 EPS. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. On average, sell-side analysts predict that Cactus Inc will post 0.3 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 1st were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend was Friday, May 29th. Cactus’s dividend payout ratio is presently 19.35%.
Cactus Company Profile
Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment. The company's principal products include Cactus SafeDrill wellhead systems, frac stacks, zipper manifolds, and production trees. It also provides field services, such as 24-hour service crews to assist with the installation, maintenance, and safe handling of the wellhead and pressure control equipment, as well as repair services for equipment that it sells or rents.
Further Reading: Neutral Rating
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