The Manufacturers Life Insurance Company Boosts Position in Cactus, Inc. (NYSE:WHD)

The Manufacturers Life Insurance Company lifted its position in Cactus, Inc. (NYSE:WHD) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,259 shares of the company’s stock after buying an additional 684 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Cactus were worth $1,912,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of WHD. Vanguard Group Inc. lifted its stake in Cactus by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 6,571,806 shares of the company’s stock worth $329,182,000 after purchasing an additional 53,142 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Cactus in the second quarter worth $122,623,000. Boston Trust Walden Corp boosted its stake in Cactus by 1.3% during the second quarter. Boston Trust Walden Corp now owns 1,955,227 shares of the company’s stock valued at $103,119,000 after buying an additional 25,839 shares during the period. Wasatch Advisors LP boosted its stake in Cactus by 39.1% during the first quarter. Wasatch Advisors LP now owns 1,336,006 shares of the company’s stock valued at $66,921,000 after buying an additional 375,829 shares during the period. Finally, Capital International Investors grew its position in Cactus by 3.9% during the first quarter. Capital International Investors now owns 1,293,233 shares of the company’s stock worth $64,778,000 after buying an additional 48,379 shares in the last quarter. 85.11% of the stock is currently owned by institutional investors.

Cactus Stock Down 0.6 %

Shares of NYSE WHD opened at $62.08 on Thursday. The stock has a market capitalization of $4.94 billion, a P/E ratio of 24.73, a PEG ratio of 2.35 and a beta of 1.95. Cactus, Inc. has a one year low of $37.58 and a one year high of $64.96. The firm’s 50 day simple moving average is $59.44 and its two-hundred day simple moving average is $54.76. 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 (NYSE:WHD) last released its earnings results on Wednesday, July 31st. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.72 by $0.09. Cactus had a net margin of 16.88% and a return on equity of 21.22%. The company had revenue of $290.39 million for the quarter, compared to analyst estimates of $276.76 million. During the same quarter last year, the firm earned $0.84 EPS. The firm’s quarterly revenue was down 5.0% compared to the same quarter last year. As a group, analysts expect that Cactus, Inc. will post 3.04 EPS for the current fiscal year.

Cactus Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were issued a dividend of $0.13 per share. The ex-dividend date was Monday, August 26th. This is a boost from Cactus’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 0.84%. Cactus’s dividend payout ratio is currently 20.72%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WHD. Piper Sandler dropped their price target on Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Citigroup lifted their target price on shares of Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Finally, Barclays increased their price target on shares of Cactus from $56.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. One investment 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $54.00.

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.