Zurcher Kantonalbank Zurich Cantonalbank Lowers Position in Cactus, Inc. (NYSE:WHD)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in Cactus, Inc. (NYSE:WHD) by 2.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,103 shares of the company’s stock after selling 350 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cactus were worth $601,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. State of Tennessee Department of Treasury lifted its position in shares of Cactus by 0.5% in the fourth quarter. State of Tennessee Department of Treasury now owns 35,828 shares of the company’s stock worth $2,091,000 after buying an additional 177 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Cactus by 1.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 10,382 shares of the company’s stock worth $606,000 after buying an additional 180 shares in the last quarter. Central Pacific Bank Trust Division lifted its position in shares of Cactus by 7.5% in the first quarter. Central Pacific Bank Trust Division now owns 3,586 shares of the company’s stock worth $164,000 after buying an additional 250 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Cactus by 5.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,133 shares of the company’s stock worth $300,000 after buying an additional 269 shares in the last quarter. Finally, Hancock Whitney Corp lifted its position in shares of Cactus by 7.4% in the fourth quarter. Hancock Whitney Corp now owns 4,009 shares of the company’s stock worth $234,000 after buying an additional 277 shares in the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on WHD shares. JPMorgan Chase & Co. decreased their target price on Cactus from $52.00 to $50.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 28th. Stifel Nicolaus decreased their target price on Cactus from $57.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, August 1st. Finally, Barclays reiterated an “overweight” rating and issued a $52.00 target price (down from $53.00) on shares of Cactus in a research report on Monday.

Cactus Trading Down 1.9%

Shares of NYSE WHD opened at $39.68 on Thursday. The business’s 50 day moving average is $44.50 and its two-hundred day moving average is $46.62. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.85 and a quick ratio of 3.48. Cactus, Inc. has a 1-year low of $33.80 and a 1-year high of $70.01. The stock has a market capitalization of $3.17 billion, a P/E ratio of 14.97, a PEG ratio of 3.70 and a beta of 1.48.

Cactus (NYSE:WHD) last released its earnings results on Wednesday, July 30th. The company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The business had revenue of $273.58 million for the quarter, compared to the consensus estimate of $280.28 million. Cactus had a net margin of 16.19% and a return on equity of 17.34%. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.81 EPS. As a group, research analysts expect that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.14 per share. This is a positive change from Cactus’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, August 29th. Cactus’s payout ratio is currently 19.62%.

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.