Allspring Global Investments Holdings LLC Has $8.61 Million Stock Holdings in Cactus, Inc. (NYSE:WHD)

Allspring Global Investments Holdings LLC cut its stake in Cactus, Inc. (NYSE:WHD) by 1.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,860 shares of the company’s stock after selling 3,608 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.23% of Cactus worth $8,611,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WHD. Oarsman Capital Inc. bought a new position in shares of Cactus in the 4th quarter valued at $26,000. Smartleaf Asset Management LLC increased its stake in shares of Cactus by 74.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 522 shares of the company’s stock valued at $30,000 after purchasing an additional 223 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of Cactus by 66.9% in the 4th quarter. Jones Financial Companies Lllp now owns 841 shares of the company’s stock valued at $49,000 after purchasing an additional 337 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Cactus in the 4th quarter valued at $76,000. Finally, AlphaQuest LLC increased its stake in shares of Cactus by 202.5% in the 4th quarter. AlphaQuest LLC now owns 1,706 shares of the company’s stock valued at $100,000 after purchasing an additional 1,142 shares during the last quarter. 85.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WHD has been the topic of several recent analyst reports. Stifel Nicolaus decreased their price target on Cactus from $61.00 to $57.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Barclays decreased their price target on Cactus from $54.00 to $53.00 and set an “overweight” rating on the stock in a research note on Friday, June 20th. Finally, JPMorgan Chase & Co. decreased their price target on Cactus from $52.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $52.33.

Cactus Price Performance

Shares of WHD opened at $45.27 on Friday. Cactus, Inc. has a 12-month low of $33.80 and a 12-month high of $70.01. The business has a 50-day simple moving average of $43.26 and a two-hundred day simple moving average of $49.02. The company has a quick ratio of 3.47, a current ratio of 4.85 and a debt-to-equity ratio of 0.01. The stock has a market cap of $3.61 billion, a PE ratio of 16.11 and a beta of 1.48.

Cactus (NYSE:WHD) last issued its earnings results on Wednesday, April 30th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. The business had revenue of $280.32 million during the quarter, compared to analysts’ expectations of $272.22 million. Cactus had a return on equity of 18.99% and a net margin of 16.78%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.75 EPS. Analysts anticipate that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Monday, June 2nd were paid a $0.13 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.52 annualized dividend and a dividend yield of 1.15%. Cactus’s payout ratio is 18.51%.

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.