Wealth Enhancement Advisory Services LLC Buys New Position in Cactus, Inc. $WHD

Wealth Enhancement Advisory Services LLC purchased a new stake in Cactus, Inc. (NYSE:WHD) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 6,753 shares of the company’s stock, valued at approximately $306,000.

Several other hedge funds and other institutional investors have also made changes to their positions in WHD. Advisors Asset Management Inc. raised its position in shares of Cactus by 113.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock worth $47,000 after acquiring an additional 543 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Cactus in the first quarter valued at approximately $57,000. Financial Harvest LLC acquired a new position in Cactus during the first quarter worth $130,000. KBC Group NV raised its holdings in shares of Cactus by 11.9% in the first quarter. KBC Group NV now owns 3,373 shares of the company’s stock worth $155,000 after acquiring an additional 360 shares during the last quarter. Finally, Central Pacific Bank Trust Division raised its holdings in shares of Cactus by 21.4% in the second quarter. Central Pacific Bank Trust Division now owns 4,352 shares of the company’s stock worth $190,000 after acquiring an additional 766 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

Cactus Stock Performance

Shares of Cactus stock opened at $36.67 on Thursday. The company has a quick ratio of 3.48, a current ratio of 4.85 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a 12 month low of $33.80 and a 12 month high of $70.01. The business has a fifty day simple moving average of $40.21 and a 200-day simple moving average of $41.87. The stock has a market cap of $2.93 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 3.44 and a beta of 1.48.

Cactus (NYSE:WHD) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). Cactus had a return on equity of 17.34% and a net margin of 16.19%.The firm had revenue of $273.58 million for the quarter, compared to analysts’ expectations of $280.28 million. During the same quarter in the prior year, the business posted $0.81 earnings per share. Cactus’s revenue was down 5.8% on a year-over-year basis. On average, sell-side analysts anticipate that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Friday, August 29th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.5%. This is an increase from Cactus’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, August 29th. Cactus’s dividend payout ratio is 21.13%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on WHD shares. Barclays reiterated an “overweight” rating and issued a $52.00 target price (down from $53.00) on shares of Cactus in a research note on Monday, August 4th. Stifel Nicolaus reduced their price target on Cactus from $57.00 to $53.00 and set a “buy” rating for the company in a report on Friday, August 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cactus in a report on Wednesday. Zacks Research cut Cactus from a “hold” rating to a “strong sell” rating in a research report on Monday, September 8th. Finally, Wall Street Zen raised Cactus from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $50.75.

Insiders Place Their Bets

In other Cactus news, EVP William D. Marsh sold 10,172 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $41.32, for a total transaction of $420,307.04. Following the transaction, the executive vice president directly owned 11,088 shares in the company, valued at $458,156.16. This trade represents a 47.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 13.75% of the stock is currently owned by company insiders.

About Cactus

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.