Congress Asset Management Co. Has $16.61 Million Holdings in Cactus, Inc. (NYSE:WHD)

Congress Asset Management Co. lifted its stake in Cactus, Inc. (NYSE:WHD - Free Report) by 14.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 284,686 shares of the company's stock after purchasing an additional 36,567 shares during the quarter. Congress Asset Management Co. owned 0.36% of Cactus worth $16,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Quest Partners LLC purchased a new stake in Cactus in the 3rd quarter worth approximately $34,000. Versant Capital Management Inc increased its stake in shares of Cactus by 165.4% in the fourth quarter. Versant Capital Management Inc now owns 576 shares of the company's stock worth $34,000 after acquiring an additional 359 shares during the last quarter. KBC Group NV raised its holdings in shares of Cactus by 54.2% during the fourth quarter. KBC Group NV now owns 3,013 shares of the company's stock worth $176,000 after acquiring an additional 1,059 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Cactus during the third quarter valued at $177,000. Finally, Nisa Investment Advisors LLC grew its stake in Cactus by 10.8% in the third quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company's stock valued at $188,000 after purchasing an additional 307 shares in the last quarter. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Cactus Stock Down 0.1 %

NYSE:WHD traded down $0.07 during trading hours on Wednesday, reaching $61.10. The company's stock had a trading volume of 121,858 shares, compared to its average volume of 442,029. Cactus, Inc. has a one year low of $44.57 and a one year high of $70.01. The business's 50-day moving average is $60.52 and its 200-day moving average is $61.16. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67. The company has a market cap of $4.86 billion, a price-to-earnings ratio of 21.67, a price-to-earnings-growth ratio of 5.16 and a beta of 1.97.

Cactus Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.13 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.52 annualized dividend and a dividend yield of 0.85%. Cactus's dividend payout ratio (DPR) is presently 18.44%.

Analyst Ratings Changes

Separately, Barclays downgraded Cactus from an "overweight" rating to an "equal weight" rating and set a $61.00 price target for the company. in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $56.40.

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.