Moran Wealth Management LLC Takes Position in Cactus, Inc. (NYSE:WHD)

Moran Wealth Management LLC acquired a new position in shares of Cactus, Inc. (NYSE:WHD) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,444 shares of the company’s stock, valued at approximately $201,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bridgewater Associates LP purchased a new position in shares of Cactus during the 3rd quarter worth $9,501,000. Principal Financial Group Inc. increased its position in Cactus by 4.4% during the fourth quarter. Principal Financial Group Inc. now owns 357,313 shares of the company’s stock worth $20,853,000 after purchasing an additional 15,035 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Cactus by 1.7% during the third quarter. JPMorgan Chase & Co. now owns 3,102,984 shares of the company’s stock worth $185,155,000 after purchasing an additional 52,085 shares during the period. New York State Common Retirement Fund boosted its holdings in Cactus by 2.7% in the 4th quarter. New York State Common Retirement Fund now owns 183,077 shares of the company’s stock valued at $10,684,000 after purchasing an additional 4,890 shares during the last quarter. Finally, Citigroup Inc. grew its stake in shares of Cactus by 81.2% in the 3rd quarter. Citigroup Inc. now owns 89,464 shares of the company’s stock valued at $5,338,000 after buying an additional 40,099 shares during the period. Institutional investors and hedge funds own 85.11% of the company’s stock.

Cactus Stock Performance

Shares of WHD stock opened at $45.00 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82. The firm has a market cap of $3.58 billion, a P/E ratio of 15.96, a P/E/G ratio of 5.13 and a beta of 2.05. The firm’s 50 day moving average price is $58.43 and its 200-day moving average price is $60.51. Cactus, Inc. has a one year low of $44.90 and a one year high of $70.01.

Cactus (NYSE:WHD) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.01). Cactus had a return on equity of 20.24% and a net margin of 16.57%. The firm had revenue of $272.12 million for the quarter, compared to analyst estimates of $277.59 million. As a group, equities research analysts predict that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 3rd will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Monday, March 3rd. Cactus’s dividend payout ratio (DPR) is 18.84%.

Analyst Ratings Changes

Separately, Barclays reduced their price target on shares of Cactus from $61.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $55.00.

Cactus Company 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.