State of New Jersey Common Pension Fund D Has $1.97 Million Stake in Cactus, Inc. (NYSE:WHD)

State of New Jersey Common Pension Fund D decreased its position in Cactus, Inc. (NYSE:WHD) by 37.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,437 shares of the company’s stock after selling 22,289 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Cactus were worth $1,974,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Securities Inc. bought a new stake in shares of Cactus in the fourth quarter valued at approximately $30,000. GAMMA Investing LLC boosted its stake in shares of Cactus by 27.5% in the first quarter. GAMMA Investing LLC now owns 1,005 shares of the company’s stock valued at $50,000 after buying an additional 217 shares during the period. TFO Wealth Partners LLC boosted its stake in shares of Cactus by 221,300.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,214 shares of the company’s stock valued at $101,000 after buying an additional 2,213 shares during the period. SG Americas Securities LLC bought a new stake in shares of Cactus in the first quarter valued at approximately $115,000. Finally, Covestor Ltd boosted its stake in shares of Cactus by 251.8% in the first quarter. Covestor Ltd now owns 2,508 shares of the company’s stock valued at $126,000 after buying an additional 1,795 shares during the period. Institutional investors and hedge funds own 85.11% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WHD. Johnson Rice cut Cactus from a “buy” rating to an “accumulate” rating in a research note on Friday, May 31st. Barclays boosted their price target on Cactus from $56.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Piper Sandler cut their price target on Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Finally, Citigroup upped their target price on Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Cactus currently has an average rating of “Hold” and an average target price of $54.00.

Cactus Stock Up 1.6 %

NYSE WHD opened at $63.46 on Friday. The business has a fifty day moving average price of $58.96 and a two-hundred day moving average price of $53.48. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.75 and a quick ratio of 2.59. Cactus, Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $64.96. The stock has a market capitalization of $5.05 billion, a PE ratio of 25.28, a PEG ratio of 2.15 and a beta of 1.95.

Cactus (NYSE:WHD) last released its earnings results on Wednesday, July 31st. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.09. Cactus had a return on equity of 21.22% and a net margin of 16.88%. The firm had revenue of $290.39 million during the quarter, compared to analysts’ expectations of $276.76 million. During the same period in the prior year, the company earned $0.84 earnings per share. The company’s quarterly revenue was down 5.0% on a year-over-year basis. Equities analysts expect that Cactus, Inc. will post 3.03 earnings per share for the current fiscal year.

Cactus Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.82%. This is a boost from Cactus’s previous quarterly dividend of $0.12. The ex-dividend date was Monday, August 26th. Cactus’s dividend payout ratio is presently 20.72%.

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.