Diversified Trust Co Makes New $813,000 Investment in Cactus, Inc. $WHD

Diversified Trust Co acquired a new position in shares of Cactus, Inc. (NYSE:WHD) in the 1st quarter, HoldingsChannel reports. The fund acquired 17,153 shares of the company’s stock, valued at approximately $813,000.

Other hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its stake 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 acquiring an additional 259 shares in the last quarter. Aster Capital Management DIFC Ltd increased its stake in Cactus by 73.4% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company’s stock valued at $34,000 after purchasing an additional 314 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in shares of Cactus during the third quarter valued at about $33,000. Advisors Asset Management Inc. raised its holdings in shares of Cactus by 113.8% during the first 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 during the period. Finally, Huntington National Bank boosted its position in shares of Cactus by 55.4% during the 3rd quarter. Huntington National Bank now owns 1,094 shares of the company’s stock worth $43,000 after purchasing an additional 390 shares in the last quarter. Institutional investors own 85.11% of the company’s stock.

Cactus Stock Down 3.6%

Shares of NYSE WHD opened at $50.93 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.61 and a quick ratio of 1.71. The company has a 50-day moving average price of $56.95 and a 200-day moving average price of $53.04. The stock has a market capitalization of $4.08 billion, a P/E ratio of 48.05, a P/E/G ratio of 2.07 and a beta of 1.37. Cactus, Inc. has a 1 year low of $33.20 and a 1 year high of $64.30.

Cactus (NYSE:WHD) last posted its earnings results on Thursday, May 7th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Cactus had a net margin of 6.17% and a return on equity of 15.43%. The company had revenue of $388.35 million for the quarter, compared to analyst estimates of $380.42 million. During the same quarter in the prior year, the business posted $0.73 EPS. The firm’s revenue was up 38.5% compared to the same quarter last year. On average, equities research analysts forecast that Cactus, Inc. will post 2.88 EPS for the current fiscal year.

Cactus Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 1st were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Monday, June 1st. Cactus’s payout ratio is currently 52.83%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Piper Sandler raised their target price on Cactus from $69.00 to $72.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Barclays upped their price target on Cactus from $62.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Weiss Ratings upgraded Cactus from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Stifel Nicolaus reissued a “buy” rating and issued a $68.00 price objective (up from $66.00) on shares of Cactus in a research note on Tuesday, June 16th. Finally, Wall Street Zen downgraded Cactus from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $63.40.

Insider Activity at Cactus

In related news, Director Alan Semple sold 10,206 shares of Cactus stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $56.62, for a total transaction of $577,863.72. Following the transaction, the director owned 29,444 shares of the company’s stock, valued at $1,667,119.28. The trade was a 25.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Y. Mcgovern sold 12,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $56.57, for a total value of $678,840.00. Following the sale, the director owned 15,990 shares of the company’s stock, valued at $904,554.30. This trade represents a 42.87% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 12.91% of the company’s stock.

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.