Allspring Global Investments Holdings LLC Sells 20,327 Shares of Cactus, Inc. $WHD

Allspring Global Investments Holdings LLC lowered its holdings in shares of Cactus, Inc. (NYSE:WHD) by 8.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 224,233 shares of the company’s stock after selling 20,327 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.28% of Cactus worth $10,546,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC grew its stake 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 buying an additional 259 shares during the last quarter. Salomon & Ludwin LLC purchased a new position in Cactus during the third quarter valued at $25,000. Johnson Financial Group Inc. bought a new stake in Cactus in the third quarter worth $33,000. Advisors Asset Management Inc. boosted 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 acquiring an additional 543 shares in the last quarter. Finally, Huntington National Bank grew its stake in shares of 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 acquiring an additional 390 shares during the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Insider Buying and Selling

In other Cactus news, President Joel Bender sold 106,809 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $49.92, for a total value of $5,331,905.28. Following the completion of the transaction, the president owned 27,793 shares of the company’s stock, valued at approximately $1,387,426.56. This trade represents a 79.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 200,000 shares of company stock valued at $10,039,080. 13.75% of the stock is owned by company insiders.

Cactus Price Performance

WHD stock opened at $47.78 on Monday. Cactus, Inc. has a 12 month low of $33.20 and a 12 month high of $59.25. The company has a 50-day moving average price of $52.42 and a 200 day moving average price of $46.65. The stock has a market cap of $3.82 billion, a PE ratio of 19.91, a P/E/G ratio of 4.73 and a beta of 1.31. The company has a current ratio of 5.81, a quick ratio of 4.13 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. Cactus had a net margin of 15.39% and a return on equity of 15.18%. The firm had revenue of $261.20 million for the quarter, compared to analysts’ expectations of $250.60 million. During the same period in the prior year, the business posted $0.71 earnings per share. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. Equities research analysts anticipate that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Monday, March 2nd were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, March 2nd. Cactus’s dividend payout ratio (DPR) is presently 23.33%.

Analyst Ratings Changes

WHD has been the subject of several analyst reports. Wall Street Zen downgraded shares of Cactus from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Piper Sandler started coverage on Cactus in a research note on Tuesday, February 24th. They set an “overweight” rating and a $73.00 target price on the stock. Barclays lifted their target price on Cactus from $56.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Zacks Research cut Cactus from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cactus in a report on Friday, March 27th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $56.33.

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