Louisiana State Employees Retirement System Invests $1.75 Million in Cactus, Inc. (NYSE:WHD)

Louisiana State Employees Retirement System bought a new position in Cactus, Inc. (NYSE:WHD) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 33,100 shares of the company’s stock, valued at approximately $1,746,000.

A number of other hedge funds also recently bought and sold shares of WHD. GAMMA Investing LLC grew its position in shares of Cactus by 27.5% in the 1st quarter. GAMMA Investing LLC now owns 1,005 shares of the company’s stock worth $50,000 after buying an additional 217 shares during the last quarter. Gilbert & Cook Inc. raised its holdings in Cactus by 2.6% in the 1st quarter. Gilbert & Cook Inc. now owns 14,016 shares of the company’s stock worth $702,000 after purchasing an additional 352 shares in the last quarter. Bridge City Capital LLC lifted its position in shares of Cactus by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 69,590 shares of the company’s stock worth $3,486,000 after purchasing an additional 534 shares during the period. Alliance Wealth Advisors LLC UT boosted its stake in shares of Cactus by 6.3% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 10,348 shares of the company’s stock valued at $470,000 after purchasing an additional 617 shares in the last quarter. Finally, Principal Securities Inc. purchased a new position in shares of Cactus during the fourth quarter valued at about $30,000. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on WHD. Benchmark restated a “hold” rating on shares of Cactus in a report on Monday, May 6th. Barclays lifted their price target on Cactus from $56.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Citigroup increased their price objective on Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Johnson Rice cut shares of Cactus from a “buy” rating to an “accumulate” rating in a report on Friday, May 31st. Finally, Piper Sandler decreased their price target on shares of Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $55.00.

Cactus Stock Performance

Shares of WHD stock opened at $60.04 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.59 and a current ratio of 3.75. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of 23.92, a price-to-earnings-growth ratio of 2.21 and a beta of 1.98. Cactus, Inc. has a one year low of $37.58 and a one year high of $64.96. The company’s 50-day moving average is $56.39 and its 200 day moving average is $51.60.

Cactus (NYSE:WHD) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.09. The company had revenue of $290.39 million during the quarter, compared to the consensus estimate of $276.76 million. Cactus had a net margin of 16.88% and a return on equity of 21.22%. The firm’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.84 earnings per share. Sell-side analysts expect that Cactus, Inc. will post 2.92 EPS for the current fiscal year.

Cactus Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 26th will be issued a dividend of $0.13 per share. This is an increase from Cactus’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Monday, August 26th. Cactus’s dividend payout ratio is presently 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.