Lazard Asset Management LLC Lowers Position in Cactus, Inc. (NYSE:WHD)

Lazard Asset Management LLC cut its holdings in shares of Cactus, Inc. (NYSE:WHD) by 31.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 72,133 shares of the company’s stock after selling 33,789 shares during the quarter. Lazard Asset Management LLC owned about 0.09% of Cactus worth $4,207,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Cactus by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 7,680,731 shares of the company’s stock worth $448,247,000 after purchasing an additional 147,395 shares during the period. Geode Capital Management LLC grew its holdings in shares of Cactus by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 1,804,107 shares of the company’s stock worth $105,308,000 after purchasing an additional 45,821 shares during the period. Boston Trust Walden Corp grew its holdings in shares of Cactus by 0.6% during the 4th quarter. Boston Trust Walden Corp now owns 1,797,489 shares of the company’s stock worth $104,901,000 after purchasing an additional 9,884 shares during the period. Capital International Investors grew its holdings in shares of Cactus by 14.8% during the 4th quarter. Capital International Investors now owns 1,686,858 shares of the company’s stock worth $98,445,000 after purchasing an additional 218,004 shares during the period. Finally, First Trust Advisors LP boosted its holdings in Cactus by 34.6% during the 4th quarter. First Trust Advisors LP now owns 1,556,565 shares of the company’s stock valued at $90,841,000 after acquiring an additional 400,452 shares during the period. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Cactus Price Performance

WHD stock opened at $43.79 on Friday. 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 firm has a market capitalization of $3.48 billion, a P/E ratio of 15.53, a P/E/G ratio of 5.13 and a beta of 1.50. The business’s 50-day moving average is $41.43 and its two-hundred day moving average is $54.23. Cactus, Inc. has a 1 year low of $33.80 and a 1 year high of $70.01.

Cactus (NYSE:WHD) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. The company had revenue of $280.32 million for the quarter, compared to analyst estimates of $272.22 million. Cactus had a return on equity of 20.24% and a net margin of 16.57%. Cactus’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 EPS. Analysts anticipate that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, June 2nd will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Monday, June 2nd. Cactus’s dividend payout ratio is currently 18.51%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. lowered their target price on Cactus from $54.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday, May 6th. Stifel Nicolaus lowered their target price on Cactus from $61.00 to $57.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Finally, Barclays lowered their target price on Cactus from $54.00 to $51.00 and set an “equal weight” rating for the company in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $52.33.

About Cactus

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.