State Board of Administration of Florida Retirement System Grows Position in Cactus, Inc. (NYSE:WHD)

Posted by Defense World Staff on May 18th, 2023

State Board of Administration of Florida Retirement System raised its holdings in shares of Cactus, Inc. (NYSE:WHD – Get Rating) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,759 shares of the company’s stock after buying an additional 320 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Cactus were worth $792,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Cactus by 4.8% during the third quarter. Vanguard Group Inc. now owns 5,829,515 shares of the company’s stock worth $224,027,000 after buying an additional 269,339 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Cactus by 2.4% during the first quarter. BlackRock Inc. now owns 3,987,233 shares of the company’s stock worth $226,236,000 after buying an additional 94,603 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of Cactus by 0.4% during the first quarter. Clearbridge Investments LLC now owns 2,000,859 shares of the company’s stock worth $113,529,000 after buying an additional 7,096 shares in the last quarter. Boston Trust Walden Corp grew its holdings in shares of Cactus by 17.5% during the fourth quarter. Boston Trust Walden Corp now owns 1,703,234 shares of the company’s stock worth $85,605,000 after buying an additional 253,917 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Cactus by 334.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,430,977 shares of the company’s stock worth $54,993,000 after buying an additional 1,101,513 shares in the last quarter. Hedge funds and other institutional investors own 83.06% of the company’s stock.

Cactus Trading Up 3.9 %

NYSE WHD opened at $36.19 on Thursday. The firm’s 50-day moving average is $39.93 and its two-hundred day moving average is $47.71. Cactus, Inc. has a 12 month low of $34.24 and a 12 month high of $58.30. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.83 and a quick ratio of 1.58. The stock has a market capitalization of $2.86 billion, a P/E ratio of 17.40, a PEG ratio of 3.70 and a beta of 1.94.

Cactus (NYSE:WHD – Get Rating) last issued its quarterly earnings results on Tuesday, May 9th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. The company had revenue of $228.40 million for the quarter, compared to analyst estimates of $217.45 million. Cactus had a net margin of 17.18% and a return on equity of 19.95%. The business’s revenue for the quarter was up 56.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.30 earnings per share. On average, sell-side analysts anticipate that Cactus, Inc. will post 2.6 earnings per share for the current year.

Cactus Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Tuesday, May 30th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, May 26th. This represents a $0.44 dividend on an annualized basis and a yield of 1.22%. Cactus’s dividend payout ratio (DPR) is presently 21.15%.

Analysts Set New Price Targets

WHD has been the topic of several recent research reports. Citigroup lowered their price target on shares of Cactus from $52.00 to $48.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 5th. Benchmark initiated coverage on shares of Cactus in a research report on Thursday, January 19th. They set a “buy” rating and a $70.00 price target on the stock. Finally, Barclays lowered their price target on shares of Cactus from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 28th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $55.60.

Insiders Place Their Bets

In other Cactus news, CAO Donna L. Anderson sold 2,985 shares of the business’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $47.83, for a total transaction of $142,772.55. Following the sale, the chief accounting officer now directly owns 3,262 shares in the company, valued at $156,021.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 17.72% of the company’s stock.

Cactus Company Profile

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Cactus, Inc is a holding company, which engages in the design, manufacture and sale of wellhead and pressure control equipment. Its products include Cactus SafeDrill wellhead systems as well as frac stacks, Cactus SafeLink monobore, SafeClamp and SafeInject systems. It also offers field services for its products and rental items to assist with the installation, maintenance, and handling of the wellhead and pressure control equipment.