Allspring Global Investments Holdings LLC Trims Position in Cactus, Inc. (NYSE:WHD)

Allspring Global Investments Holdings LLC lessened its stake in shares of Cactus, Inc. (NYSE:WHD) by 3.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 228,781 shares of the company’s stock after selling 9,125 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Cactus were worth $10,387,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. lifted its position in Cactus by 70.5% in the first quarter. PNC Financial Services Group Inc. now owns 3,016 shares of the company’s stock valued at $172,000 after buying an additional 1,247 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Cactus by 55.2% in the 1st quarter. MetLife Investment Management LLC now owns 30,390 shares of the company’s stock worth $1,724,000 after acquiring an additional 10,813 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Cactus by 2.4% in the 1st quarter. BlackRock Inc. now owns 3,987,233 shares of the company’s stock worth $226,236,000 after acquiring an additional 94,603 shares during the last quarter. Westwood Holdings Group Inc. acquired a new position in shares of Cactus in the 1st quarter worth approximately $268,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Cactus by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 950,570 shares of the company’s stock worth $53,933,000 after acquiring an additional 10,327 shares during the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Insiders Place Their Bets

In other news, EVP William D. Marsh sold 1,700 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $46.20, for a total value of $78,540.00. Following the sale, the executive vice president now directly owns 3,911 shares in the company, valued at approximately $180,688.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Scott Bender sold 78,000 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $45.79, for a total value of $3,571,620.00. Following the sale, the chief executive officer now directly owns 20 shares in the company, valued at approximately $915.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William D. Marsh sold 1,700 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $46.20, for a total transaction of $78,540.00. Following the completion of the sale, the executive vice president now owns 3,911 shares in the company, valued at $180,688.20. The disclosure for this sale can be found here. 16.84% of the stock is owned by company insiders.

Analysts Set New Price Targets

WHD has been the topic of several recent analyst reports. Bank of America upped their price objective on shares of Cactus from $40.00 to $43.00 and gave the stock an “underperform” rating in a report on Monday. Benchmark lowered shares of Cactus from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Finally, Stifel Nicolaus decreased their price objective on shares of Cactus from $68.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $55.29.

Cactus Price Performance

Cactus stock opened at $49.94 on Wednesday. The firm has a market cap of $3.96 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of 8.53 and a beta of 1.96. Cactus, Inc. has a 52-week low of $31.36 and a 52-week high of $57.00. The company has a quick ratio of 2.00, a current ratio of 3.17 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average is $47.55 and its two-hundred day moving average is $45.41.

Cactus (NYSE:WHD) last released its earnings results on Thursday, February 29th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. The company had revenue of $274.87 million for the quarter, compared to analyst estimates of $268.56 million. Cactus had a net margin of 15.42% and a return on equity of 22.69%. The firm’s quarterly revenue was up 46.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.57 EPS. On average, research analysts expect that Cactus, Inc. will post 3.04 EPS for the current fiscal year.

Cactus Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Monday, February 26th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $0.48 dividend on an annualized basis and a yield of 0.96%. Cactus’s dividend payout ratio (DPR) is presently 18.82%.

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.