Vestcor Inc Buys 4,799 Shares of Cactus, Inc. (NYSE:WHD)

Vestcor Inc grew its position in shares of Cactus, Inc. (NYSE:WHD) by 321.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,293 shares of the company’s stock after buying an additional 4,799 shares during the quarter. Vestcor Inc’s holdings in Cactus were worth $367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of WHD. Bridgewater Associates LP bought a new position in Cactus in the third quarter valued at about $9,501,000. Principal Financial Group Inc. increased its position in shares of Cactus by 4.4% during the 4th quarter. Principal Financial Group Inc. now owns 357,313 shares of the company’s stock valued at $20,853,000 after purchasing an additional 15,035 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Cactus by 1.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,102,984 shares of the company’s stock worth $185,155,000 after purchasing an additional 52,085 shares during the period. New York State Common Retirement Fund grew its position in Cactus by 2.7% during the fourth quarter. New York State Common Retirement Fund now owns 183,077 shares of the company’s stock valued at $10,684,000 after buying an additional 4,890 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in Cactus during the fourth quarter valued at approximately $1,332,000. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Cactus Stock Performance

WHD opened at $45.75 on Tuesday. The company has a 50 day simple moving average of $57.24 and a two-hundred day simple moving average of $60.07. 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 cap of $3.64 billion, a P/E ratio of 16.22, a PEG ratio of 5.13 and a beta of 2.05. Cactus, Inc. has a 1-year low of $43.27 and a 1-year high of $70.01.

Cactus (NYSE:WHD) last issued its earnings results on Wednesday, February 26th. The company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.01). Cactus had a return on equity of 20.24% and a net margin of 16.57%. The firm had revenue of $272.12 million during the quarter, compared to the consensus estimate of $277.59 million. Equities analysts forecast that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 3rd will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Monday, March 3rd. Cactus’s dividend payout ratio is currently 18.84%.

Analyst Ratings Changes

Separately, Barclays dropped their price target on shares of Cactus from $61.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $55.00.

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.