Cactus, Inc. $WHD Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its stake in Cactus, Inc. (NYSE:WHD) by 1.3% during the third quarter, HoldingsChannel reports. The firm owned 2,588,892 shares of the company’s stock after selling 35,127 shares during the quarter. JPMorgan Chase & Co.’s holdings in Cactus were worth $102,184,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Salomon & Ludwin LLC acquired a new position in Cactus in the 3rd quarter valued at $25,000. EverSource Wealth Advisors LLC raised its holdings in Cactus by 67.6% during the third quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock worth $25,000 after purchasing an additional 259 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in Cactus during the third quarter worth about $33,000. Huntington National Bank lifted its position in Cactus by 55.4% in the third quarter. Huntington National Bank now owns 1,094 shares of the company’s stock valued at $43,000 after purchasing an additional 390 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in Cactus by 113.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock valued at $47,000 after purchasing an additional 543 shares in the last quarter. 85.11% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, President Joel Bender sold 106,809 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $49.92, for a total transaction of $5,331,905.28. Following the sale, the president owned 27,793 shares of the company’s stock, valued at $1,387,426.56. This trade represents a 79.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 200,000 shares of company stock worth $10,039,080 over the last ninety days. Company insiders own 16.84% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on WHD shares. Wall Street Zen raised Cactus from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Piper Sandler initiated coverage on Cactus in a report on Tuesday, February 24th. They issued an “overweight” rating and a $73.00 target price for the company. Zacks Research lowered shares of Cactus from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cactus in a report on Monday, December 29th. Finally, Barclays boosted their price objective on shares of Cactus from $56.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Cactus currently has an average rating of “Moderate Buy” and a consensus price target of $56.33.

Cactus Price Performance

Cactus stock opened at $46.43 on Wednesday. The firm has a market capitalization of $3.71 billion, a PE ratio of 19.34, a P/E/G ratio of 4.50 and a beta of 1.25. Cactus, Inc. has a 52 week low of $33.20 and a 52 week high of $59.25. The firm’s 50-day simple moving average is $53.83 and its 200 day simple moving average is $46.10. The company has a quick ratio of 4.13, a current ratio of 5.81 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last announced its earnings results on Wednesday, February 25th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. Cactus had a net margin of 15.39% and a return on equity of 15.18%. The company had revenue of $261.20 million during the quarter, compared to analysts’ expectations of $250.60 million. During the same quarter in the previous year, the business posted $0.71 earnings per share. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. On average, equities research analysts predict that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, March 2nd. Cactus’s dividend payout ratio is 23.33%.

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