Legato Capital Management LLC Has $1.94 Million Stock Holdings in Cactus, Inc. $WHD

Legato Capital Management LLC decreased its position in Cactus, Inc. (NYSE:WHD) by 25.1% during the 3rd quarter, Holdings Channel reports. The firm owned 49,145 shares of the company’s stock after selling 16,447 shares during the quarter. Legato Capital Management LLC’s holdings in Cactus were worth $1,940,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in WHD. EverSource Wealth Advisors LLC lifted its holdings in Cactus by 67.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock valued at $25,000 after purchasing an additional 259 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Cactus by 0.5% during the second quarter. CANADA LIFE ASSURANCE Co now owns 57,938 shares of the company’s stock worth $2,532,000 after buying an additional 269 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of Cactus by 0.5% during the second quarter. California State Teachers Retirement System now owns 66,538 shares of the company’s stock worth $2,909,000 after buying an additional 306 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Cactus by 1.6% in the third quarter. Arizona State Retirement System now owns 20,258 shares of the company’s stock valued at $800,000 after acquiring an additional 321 shares during the last quarter. Finally, Amalgamated Bank boosted its holdings in shares of Cactus by 2.0% in the 3rd quarter. Amalgamated Bank now owns 19,830 shares of the company’s stock worth $783,000 after acquiring an additional 387 shares in the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WHD. Weiss Ratings restated a “hold (c)” rating on shares of Cactus in a research report on Monday, December 29th. Citigroup raised Cactus from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $45.00 to $55.00 in a research note on Thursday, December 11th. Barclays raised their target price on Cactus from $56.00 to $62.00 and gave the company an “overweight” rating in a research note on Monday. Piper Sandler started coverage on shares of Cactus in a research report on Tuesday, February 24th. They set an “overweight” rating and a $73.00 price target on the stock. Finally, Zacks Research lowered shares of Cactus from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Cactus currently has a consensus rating of “Moderate Buy” and an average target price of $55.00.

Cactus Price Performance

Shares of WHD stock opened at $52.99 on Tuesday. The stock has a 50-day moving average price of $53.43 and a 200 day moving average price of $45.48. The company has a quick ratio of 4.13, a current ratio of 5.81 and a debt-to-equity ratio of 0.01. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 5.53 and a beta of 1.25. Cactus, Inc. has a 12 month low of $33.20 and a 12 month high of $59.25.

Cactus (NYSE:WHD) last released its earnings results on Wednesday, February 25th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. The company had revenue of $261.20 million for the quarter, compared to the consensus estimate of $250.60 million. Cactus had a net margin of 15.39% and a return on equity of 15.18%. The company’s revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.71 EPS. Research analysts expect that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Monday, March 2nd will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, March 2nd. Cactus’s dividend payout ratio is currently 23.33%.

About Cactus

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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.