Vanguard Group Inc. Sells 180,084 Shares of Cactus, Inc. (NYSE:WHD)

Vanguard Group Inc. cut its stake in Cactus, Inc. (NYSE:WHD) by 2.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,500,647 shares of the company’s stock after selling 180,084 shares during the period. Vanguard Group Inc. owned about 0.09% of Cactus worth $343,755,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Jupiter Asset Management Ltd. bought a new position in shares of Cactus in the first quarter worth about $852,000. GSA Capital Partners LLP boosted its holdings in shares of Cactus by 394.0% in the 1st quarter. GSA Capital Partners LLP now owns 18,022 shares of the company’s stock valued at $826,000 after buying an additional 14,374 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Cactus by 26.7% in the 1st quarter. Mackenzie Financial Corp now owns 11,705 shares of the company’s stock valued at $536,000 after buying an additional 2,468 shares in the last quarter. TD Asset Management Inc boosted its holdings in shares of Cactus by 38.5% in the 1st quarter. TD Asset Management Inc now owns 42,942 shares of the company’s stock valued at $1,968,000 after buying an additional 11,942 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of Cactus by 10,002.6% in the 1st quarter. Pacer Advisors Inc. now owns 458,053 shares of the company’s stock valued at $20,993,000 after buying an additional 453,519 shares in the last quarter. 85.11% of the stock is currently owned by institutional investors.

Cactus Stock Down 1.8%

Shares of WHD opened at $39.70 on Friday. The firm has a market cap of $3.17 billion, a P/E ratio of 14.98, a price-to-earnings-growth ratio of 3.73 and a beta of 1.48. Cactus, Inc. has a 12-month low of $33.80 and a 12-month high of $70.01. The company’s 50-day moving average price is $43.94 and its 200 day moving average price is $45.37. The company has a current ratio of 4.85, a quick ratio of 3.48 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The business had revenue of $273.58 million for the quarter, compared to analysts’ expectations of $280.28 million. Cactus had a return on equity of 17.34% and a net margin of 16.19%. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter last year, the company earned $0.81 earnings per share. On average, sell-side analysts forecast that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, August 29th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.4%. This is a positive change from Cactus’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, August 29th. Cactus’s dividend payout ratio is currently 19.62%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wall Street Zen lowered shares of Cactus from a “hold” rating to a “sell” rating in a research report on Saturday. Barclays reissued an “overweight” rating and issued a $52.00 price target (down previously from $53.00) on shares of Cactus in a research note on Monday, August 4th. JPMorgan Chase & Co. lowered their target price on shares of Cactus from $52.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 28th. Finally, Stifel Nicolaus reduced their price target on Cactus from $57.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, August 1st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $50.75.

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.