Qube Research & Technologies Ltd Reduces Stock Position in Cactus, Inc. (NYSE:WHD)

August 27, 2022 tawas

Qube Research & Technologies Ltd cut its stake in Cactus, Inc. (NYSE:WHD – Get Rating) by 83.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 3,680 shares of the company’s stock after selling 18,017 shares during the quarter. Qube Research & Technologies Ltd’s holdings in Cactus were worth $209,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. UMB Bank NA MO acquired a new stake in shares of Cactus in the fourth quarter valued at approximately $31,000. Private Capital Group LLC grew its position in shares of Cactus by 28.4% in the first quarter. Private Capital Group LLC now owns 1,650 shares of the company’s stock valued at $94,000 after purchasing an additional 365 shares during the last quarter. Chilton Capital Management LLC acquired a new stake in shares of Cactus in the fourth quarter valued at approximately $170,000. Park Avenue Securities LLC acquired a new stake in shares of Cactus in the first quarter valued at approximately $208,000. Finally, Stephens Inc. AR grew its position in shares of Cactus by 2.7% in the fourth quarter. Stephens Inc. AR now owns 7,669 shares of the company’s stock valued at $292,000 after purchasing an additional 200 shares during the last quarter.

Cactus Stock Down 3.6%

WHD stock opened at $43.54 on Friday. The stock has a market capitalization of $3.30 billion, a P/E ratio of 35.11, a PEG ratio of 0.56 and a beta of 1.98. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.92 and a current ratio of 5.23. Cactus, Inc. has a one year low of $32.70 and a one year high of $64.18. The company has a 50 day moving average price of $39.65 and a two-hundred day moving average price of $47.73.

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Cactus (NYSE:WHD – Get Rating) last released its earnings results on Thursday, August 4th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.36 by $0.08. The firm had revenue of $170.20 million during the quarter, compared to analysts’ expectations of $161.11 million. Cactus had a net margin of 13.43% and a return on equity of 12.05%. Cactus’s revenue for the quarter was up 56.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.16 EPS. As a group, sell-side analysts expect that Cactus, Inc. will post 1.69 EPS for the current year.

Cactus Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Monday, August 29th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, August 26th. This represents a $0.44 annualized dividend and a dividend yield of 1.01%. Cactus’s dividend payout ratio is presently 35.48%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WHD. Barclays lowered their price target on shares of Cactus from $57.00 to $52.00 and set an “overweight” rating on the stock in a research report on Monday, August 8th. Morgan Stanley lowered their price target on shares of Cactus from $60.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 13th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cactus currently has an average rating of “Hold” and a consensus price target of $53.80.

Insider Activity

In other news, COO Joel Bender sold 542,336 shares of the business’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $54.00, for a total transaction of $29,286,144.00. Following the completion of the sale, the chief operating officer now directly owns 68,604 shares of the company’s stock, valued at approximately $3,704,616. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Scott Bender sold 562,336 shares of Cactus stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $54.04, for a total transaction of $30,388,637.44. Following the transaction, the chief executive officer now owns 50,464 shares in the company, valued at approximately $2,727,074.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Joel Bender sold 542,336 shares of Cactus stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $54.00, for a total transaction of $29,286,144.00. Following the transaction, the chief operating officer now owns 68,604 shares in the company, valued at approximately $3,704,616. The disclosure for this sale can be found here. Corporate insiders own 21.10% of the company’s stock.

About Cactus

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Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment in the United States, Australia, China, and the Kingdom of Saudi Arabia. The company’s principal products include Cactus SafeDrill wellhead systems, Cactus SafeLink monobore, SafeClamp, and SafeInject systems, as well as frac stacks, zipper manifolds, and production trees.

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