Bessemer Group Inc. Has $21.78 Million Stake in Cactus, Inc. $WHD

Bessemer Group Inc. increased its position in Cactus, Inc. (NYSE:WHD) by 36.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 476,821 shares of the company’s stock after acquiring an additional 127,250 shares during the quarter. Bessemer Group Inc.’s holdings in Cactus were worth $21,781,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in WHD. EverSource Wealth Advisors LLC increased its position in shares of Cactus by 67.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock valued at $25,000 after purchasing an additional 259 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of Cactus by 0.5% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 57,938 shares of the company’s stock valued at $2,532,000 after purchasing an additional 269 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Cactus by 1.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 15,734 shares of the company’s stock valued at $719,000 after purchasing an additional 300 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Cactus by 0.5% during the 2nd quarter. California State Teachers Retirement System now owns 66,538 shares of the company’s stock valued at $2,909,000 after purchasing an additional 306 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Cactus by 4.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,687 shares of the company’s stock valued at $384,000 after purchasing an additional 308 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

Insider Buying and Selling

In other Cactus news, Director Michael Y. Mcgovern sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $56.57, for a total value of $678,840.00. Following the completion of the transaction, the director owned 15,990 shares in the company, valued at $904,554.30. This trade represents a 42.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Joel Bender sold 106,809 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $49.92, for a total value of $5,331,905.28. Following the completion of the transaction, the president owned 27,793 shares of the company’s stock, valued at approximately $1,387,426.56. This represents a 79.35% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 222,206 shares of company stock valued at $11,295,784. 12.91% of the stock is owned by insiders.

Cactus Trading Down 1.7%

Shares of WHD opened at $56.87 on Friday. The business has a 50-day moving average of $51.56 and a 200 day moving average of $49.84. Cactus, Inc. has a fifty-two week low of $33.20 and a fifty-two week high of $59.25. The firm has a market cap of $4.56 billion, a P/E ratio of 53.65, a price-to-earnings-growth ratio of 2.17 and a beta of 1.37. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.71 and a current ratio of 2.61.

Cactus (NYSE:WHD) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. Cactus had a return on equity of 15.43% and a net margin of 6.17%.The company had revenue of $388.35 million during the quarter, compared to analyst estimates of $380.42 million. During the same quarter last year, the firm posted $0.73 EPS. The firm’s revenue for the quarter was up 38.5% on a year-over-year basis. As a group, research analysts forecast that Cactus, Inc. will post 2.84 EPS for the current year.

Cactus Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Monday, June 1st will be issued a $0.14 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.56 annualized dividend and a yield of 1.0%. Cactus’s dividend payout ratio (DPR) is 52.83%.

Analyst Upgrades and Downgrades

WHD has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cactus in a research report on Friday, March 27th. Piper Sandler initiated coverage on Cactus in a research report on Tuesday, February 24th. They set an “overweight” rating and a $73.00 target price for the company. Zacks Research lowered Cactus from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Citigroup raised their target price on Cactus from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Finally, Wall Street Zen lowered Cactus from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Cactus has an average rating of “Moderate Buy” and an average target price of $58.00.

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