Amova Asset Management Americas Inc. Purchases New Shares in Cactus, Inc. $WHD

Amova Asset Management Americas Inc. acquired a new stake in shares of Cactus, Inc. (NYSE:WHD) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 13,297 shares of the company’s stock, valued at approximately $525,000.

Several other institutional investors have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its position in shares of Cactus by 67.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock worth $25,000 after purchasing an additional 259 shares during the period. Salomon & Ludwin LLC bought a new position in Cactus in the third quarter worth about $25,000. Advisors Asset Management Inc. lifted its holdings in Cactus by 113.8% in the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock worth $47,000 after buying an additional 543 shares during the period. Huntington National Bank lifted its holdings in Cactus by 55.4% in the third quarter. Huntington National Bank now owns 1,094 shares of the company’s stock worth $43,000 after buying an additional 390 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in Cactus by 26.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,438 shares of the company’s stock valued at $194,000 after acquiring an additional 915 shares in the last quarter. 85.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WHD has been the subject of several research reports. Piper Sandler assumed coverage on Cactus in a research report on Tuesday, February 24th. They issued an “overweight” rating and a $73.00 target price for the company. Zacks Research downgraded Cactus from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Citigroup raised their price objective on Cactus from $55.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday. Weiss Ratings restated a “hold (c)” rating on shares of Cactus in a report on Monday, December 29th. Finally, Barclays increased their price target on shares of Cactus from $56.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Cactus currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.33.

Cactus Trading Up 1.4%

NYSE WHD opened at $50.74 on Friday. Cactus, Inc. has a 12 month low of $33.20 and a 12 month high of $59.25. The company has a current ratio of 5.81, a quick ratio of 4.13 and a debt-to-equity ratio of 0.01. The stock’s fifty day moving average price is $53.68 and its 200-day moving average price is $45.62. The stock has a market cap of $4.05 billion, a P/E ratio of 21.14, a P/E/G ratio of 4.91 and a beta of 1.25.

Cactus (NYSE:WHD) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.07. Cactus had a return on equity of 15.18% and a net margin of 15.39%.The firm had revenue of $261.20 million during the quarter, compared to analyst estimates of $250.60 million. During the same quarter in the previous year, the firm earned $0.71 EPS. Cactus’s quarterly revenue was down 4.0% compared to the same quarter last year. As a group, equities analysts forecast that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Monday, March 2nd will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, March 2nd. Cactus’s dividend payout ratio is currently 23.33%.

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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.