Xponance Inc. Boosts Stake in Cactus, Inc. (NYSE:WHD)

Xponance Inc. lifted its stake in shares of Cactus, Inc. (NYSE:WHD) by 19.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 5,114 shares of the company’s stock after acquiring an additional 823 shares during the quarter. Xponance Inc.’s holdings in Cactus were worth $298,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WHD. Bridgewater Associates LP bought a new stake in Cactus during the third quarter worth about $9,501,000. Principal Financial Group Inc. raised its holdings in shares of Cactus by 4.4% during the 4th quarter. Principal Financial Group Inc. now owns 357,313 shares of the company’s stock valued at $20,853,000 after buying an additional 15,035 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Cactus by 1.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,102,984 shares of the company’s stock worth $185,155,000 after buying an additional 52,085 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Cactus in the fourth quarter worth approximately $16,377,000. Finally, Charles Schwab Investment Management Inc. grew its position in Cactus by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 701,485 shares of the company’s stock valued at $40,939,000 after acquiring an additional 13,669 shares during the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Cactus Price Performance

Shares of WHD stock opened at $46.57 on Friday. The business’s fifty day moving average is $54.98 and its 200 day moving average is $59.45. The company has a quick ratio of 2.67, a current ratio of 3.82 and a debt-to-equity ratio of 0.01. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 5.13 and a beta of 2.05. Cactus, Inc. has a twelve month low of $43.27 and a twelve month high of $70.01.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.01). Cactus had a return on equity of 20.24% and a net margin of 16.57%. The business had revenue of $272.12 million during the quarter, compared to the consensus estimate of $277.59 million. Research analysts expect that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.13 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.52 annualized dividend and a dividend yield of 1.12%. Cactus’s payout ratio is 18.84%.

Wall Street Analysts Forecast Growth

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

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.