Creative Planning Makes New Investment in Cactus, Inc. (NYSE:WHD)

Creative Planning purchased a new stake in Cactus, Inc. (NYSE:WHD - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,859 shares of the company's stock, valued at approximately $467,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. GAMMA Investing LLC boosted its position in shares of Cactus by 27.5% during the 1st quarter. GAMMA Investing LLC now owns 1,005 shares of the company's stock valued at $50,000 after purchasing an additional 217 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Cactus during the 1st quarter valued at about $115,000. Covestor Ltd boosted its position in shares of Cactus by 251.8% during the 1st quarter. Covestor Ltd now owns 2,508 shares of the company's stock valued at $126,000 after purchasing an additional 1,795 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in Cactus in the first quarter worth approximately $182,000. Finally, Hennion & Walsh Asset Management Inc. bought a new position in Cactus in the first quarter worth approximately $202,000. Institutional investors and hedge funds own 85.11% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Piper Sandler cut their price target on Cactus from $55.00 to $54.00 and set a "neutral" rating on the stock in a report on Monday, July 15th. Bank of America increased their price target on Cactus from $44.00 to $48.00 and gave the stock an "underperform" rating in a report on Monday. Barclays raised their target price on Cactus from $56.00 to $61.00 and gave the company an "overweight" rating in a report on Monday, August 5th. Citigroup raised their target price on Cactus from $48.00 to $52.00 and gave the company a "neutral" rating in a report on Wednesday, July 10th. Finally, Stifel Nicolaus dropped their target price on Cactus from $69.00 to $67.00 and set a "buy" rating on the stock in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $56.40.

Cactus Stock Performance

NYSE:WHD traded up $2.12 during trading hours on Wednesday, reaching $63.23. The stock had a trading volume of 515,523 shares, compared to its average volume of 746,900. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.59 and a current ratio of 3.75. The stock has a 50 day simple moving average of $59.66 and a 200 day simple moving average of $55.14. Cactus, Inc. has a 12-month low of $37.58 and a 12-month high of $64.96. The stock has a market cap of $5.03 billion, a P/E ratio of 25.19, a price-to-earnings-growth ratio of 2.30 and a beta of 1.95.

Cactus (NYSE:WHD - Get Free Report) last released its earnings results on Wednesday, July 31st. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.09. Cactus had a return on equity of 21.22% and a net margin of 16.88%. The business had revenue of $290.39 million during the quarter, compared to the consensus estimate of $276.76 million. During the same period last year, the business posted $0.84 earnings per share. The business's revenue for the quarter was down 5.0% on a year-over-year basis. On average, research analysts forecast that Cactus, Inc. will post 3.04 EPS for the current fiscal year.

Cactus Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were issued a $0.13 dividend. This is a positive change from Cactus's previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date was Monday, August 26th. Cactus's dividend payout ratio (DPR) is presently 20.72%.

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.