Emerald Advisers LLC Sells 4,063 Shares of Cactus, Inc. (NYSE:WHD)

Emerald Advisers LLC reduced its stake in shares of Cactus, Inc. (NYSE:WHD) by 1.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 254,763 shares of the company’s stock after selling 4,063 shares during the period. Emerald Advisers LLC owned approximately 0.32% of Cactus worth $15,202,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in WHD. Pacer Advisors Inc. bought a new stake in shares of Cactus during the 2nd quarter worth $122,623,000. Makaira Partners LLC raised its position in Cactus by 399.6% in the 2nd quarter. Makaira Partners LLC now owns 499,581 shares of the company’s stock worth $26,348,000 after purchasing an additional 399,581 shares during the period. Principal Financial Group Inc. raised its position in Cactus by 3,604.5% in the 2nd quarter. Principal Financial Group Inc. now owns 326,518 shares of the company’s stock worth $17,221,000 after purchasing an additional 317,704 shares during the period. Barlow Wealth Partners Inc. purchased a new position in Cactus in the 2nd quarter worth $14,553,000. Finally, Renaissance Technologies LLC raised its position in Cactus by 179.2% in the 2nd quarter. Renaissance Technologies LLC now owns 238,700 shares of the company’s stock worth $12,589,000 after purchasing an additional 153,200 shares during the period. 85.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Bank of America lifted their target price on shares of Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a research report on Monday, October 14th. Stifel Nicolaus decreased their target price on shares of Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Citigroup lifted their target price on shares of Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Piper Sandler decreased their target price on shares of Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Finally, Barclays boosted their price objective on shares of Cactus from $56.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $56.40.

Cactus Trading Up 2.2 %

Shares of WHD stock traded up $1.29 during mid-day trading on Friday, reaching $60.58. The stock had a trading volume of 868,131 shares, compared to its average volume of 486,658. The stock’s 50-day moving average price is $59.76 and its two-hundred day moving average price is $55.87. Cactus, Inc. has a 52-week low of $37.58 and a 52-week high of $64.96. The firm has a market capitalization of $4.82 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 2.83 and a beta of 1.95. The company has a current ratio of 3.82, a quick ratio of 2.59 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.04. The firm had revenue of $293.18 million for the quarter, compared to analysts’ expectations of $287.47 million. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.80 earnings per share. Equities analysts expect that Cactus, Inc. will post 3.04 earnings per share for the current fiscal year.

Cactus Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Monday, December 2nd. Cactus’s payout ratio is 18.44%.

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.