SIR Capital Management L.P. Reduces Stake in Cactus, Inc. $WHD

SIR Capital Management L.P. decreased its stake in shares of Cactus, Inc. (NYSE:WHD) by 90.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 29,419 shares of the company’s stock after selling 282,698 shares during the period. SIR Capital Management L.P.’s holdings in Cactus were worth $1,344,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Paradice Investment Management LLC lifted its holdings in Cactus by 16.1% during the 4th quarter. Paradice Investment Management LLC now owns 675,932 shares of the company’s stock worth $30,877,000 after purchasing an additional 93,714 shares in the last quarter. VELA Investment Management LLC lifted its holdings in Cactus by 24.2% during the 4th quarter. VELA Investment Management LLC now owns 146,042 shares of the company’s stock worth $6,671,000 after purchasing an additional 28,493 shares in the last quarter. UBS Group AG increased its stake in Cactus by 81.8% in the 4th quarter. UBS Group AG now owns 380,513 shares of the company’s stock worth $17,382,000 after acquiring an additional 171,223 shares during the last quarter. Amova Asset Management Americas Inc. bought a new position in Cactus in the 3rd quarter worth about $525,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Cactus in the 4th quarter worth about $2,053,000. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Cactus Price Performance

Shares of NYSE WHD opened at $59.01 on Friday. The firm has a market capitalization of $4.73 billion, a P/E ratio of 55.67, a P/E/G ratio of 2.32 and a beta of 1.37. The company has a quick ratio of 1.71, a current ratio of 2.61 and a debt-to-equity ratio of 0.01. The stock’s 50-day simple moving average is $56.39 and its two-hundred day simple moving average is $52.32. Cactus, Inc. has a twelve month low of $33.20 and a twelve month high of $64.30.

Cactus (NYSE:WHD) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. The firm had revenue of $388.35 million for the quarter, compared to analyst estimates of $380.42 million. Cactus had a return on equity of 15.43% and a net margin of 6.17%.The company’s revenue was up 38.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.73 EPS. As a group, equities analysts anticipate that Cactus, Inc. will post 2.85 EPS for the current fiscal year.

Cactus Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Monday, June 1st will be given a dividend of $0.14 per share. The ex-dividend date is Monday, June 1st. This represents a $0.56 annualized dividend and a dividend yield of 0.9%. Cactus’s dividend payout ratio is 52.83%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WHD. Stifel Nicolaus upped their target price on Cactus from $59.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Piper Sandler upped their target price on Cactus from $69.00 to $72.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Wall Street Zen lowered Cactus from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Weiss Ratings upgraded Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday. Finally, Citigroup upped their target price on Cactus from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $62.60.

Insider Activity

In other news, Director Michael Y. Mcgovern sold 12,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $56.57, for a total transaction of $678,840.00. Following the transaction, the director directly owned 15,990 shares in the company, valued at approximately $904,554.30. This represents a 42.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alan Semple sold 10,206 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $56.62, for a total value of $577,863.72. Following the transaction, the director owned 29,444 shares in the company, valued at $1,667,119.28. This trade represents a 25.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 12.91% of the stock is currently owned by corporate insiders.

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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.