Cactus, Inc. (NYSE:WHD) Shares Sold by Southland Equity Partners LLC

Southland Equity Partners LLC reduced its position in shares of Cactus, Inc. (NYSE:WHD) by 8.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,888 shares of the company’s stock after selling 338 shares during the period. Southland Equity Partners LLC’s holdings in Cactus were worth $205,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in WHD. Principal Securities Inc. acquired a new stake in Cactus during the fourth quarter worth $30,000. GAMMA Investing LLC acquired a new stake in Cactus in the fourth quarter valued at approximately $33,000. TFO Wealth Partners LLC lifted its stake in Cactus by 221,300.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,214 shares of the company’s stock worth $101,000 after acquiring an additional 2,213 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Cactus during the first quarter worth $115,000. Finally, Covestor Ltd increased its holdings in Cactus by 251.8% in the first quarter. Covestor Ltd now owns 2,508 shares of the company’s stock valued at $126,000 after buying an additional 1,795 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

Wall Street Analyst Weigh In

WHD has been the topic of a number of analyst reports. Citigroup lifted their price objective on shares of Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Benchmark reaffirmed a “hold” rating on shares of Cactus in a research report on Monday, May 6th. Bank of America increased their price target on Cactus from $40.00 to $43.00 and gave the company an “underperform” rating in a report on Monday, April 15th. Piper Sandler reduced their price target on shares of Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Finally, Barclays raised their price target on Cactus from $56.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $55.00.

Cactus Price Performance

WHD remained flat at $58.77 during trading on Friday. 547,574 shares of the company’s stock were exchanged, compared to its average volume of 793,047. Cactus, Inc. has a 1 year low of $37.58 and a 1 year high of $64.96. The company has a market cap of $4.68 billion, a P/E ratio of 23.41, a P/E/G ratio of 2.25 and a beta of 1.98. The firm has a fifty day moving average of $54.58 and a 200 day moving average of $50.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.75 and a quick ratio of 2.59.

Cactus (NYSE:WHD) last announced its earnings results on Wednesday, July 31st. The company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.72 by $0.09. Cactus had a return on equity of 21.22% and a net margin of 16.88%. The company had revenue of $290.39 million for the quarter, compared to analysts’ expectations of $276.76 million. During the same quarter in the prior year, the business earned $0.84 earnings per share. The business’s revenue for the quarter was down 5.0% on a year-over-year basis. As a group, research analysts forecast that Cactus, Inc. will post 2.91 EPS for the current year.

Cactus Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Monday, August 26th will be given a $0.13 dividend. This is a boost from Cactus’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Monday, August 26th. Cactus’s payout ratio is currently 19.12%.

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.