Envestnet Asset Management Inc. grew its holdings in shares of Cactus, Inc. (NYSE:WHD) by 12.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,533 shares of the company’s stock after acquiring an additional 4,985 shares during the period. Envestnet Asset Management Inc.’s holdings in Cactus were worth $1,635,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. O Shaughnessy Asset Management LLC grew its stake in shares of Cactus by 1,747.2% during the first quarter. O Shaughnessy Asset Management LLC now owns 1,330 shares of the company’s stock valued at $41,000 after acquiring an additional 1,258 shares in the last quarter. Captrust Financial Advisors grew its stake in Cactus by 157.8% in the first quarter. Captrust Financial Advisors now owns 2,526 shares of the company’s stock worth $77,000 after purchasing an additional 1,546 shares in the last quarter. Cornerstone Investment Partners LLC acquired a new position in Cactus in the second quarter worth about $241,000. Brinker Capital Investments LLC bought a new position in Cactus in the second quarter worth about $247,000. Finally, Cim LLC bought a new position in Cactus in the first quarter worth about $232,000. Institutional investors own 77.07% of the company’s stock.
WHD has been the topic of a number of recent analyst reports. Zacks Investment Research raised Cactus from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Monday, July 12th. Stifel Nicolaus boosted their price objective on shares of Cactus from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, July 2nd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Cactus presently has an average rating of “Buy” and an average price target of $34.33.
Cactus (NYSE:WHD) last issued its earnings results on Wednesday, July 28th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.02). Cactus had a return on equity of 4.45% and a net margin of 9.77%. The firm had revenue of $108.89 million during the quarter, compared to the consensus estimate of $103.50 million. On average, sell-side analysts predict that Cactus, Inc. will post 0.68 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 16th. Stockholders of record on Monday, August 30th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Friday, August 27th. This is a positive change from Cactus’s previous quarterly dividend of $0.09. Cactus’s payout ratio is currently 54.79%.
Cactus, Inc is a holding company, which engages in the design, manufacture and sale of wellhead and pressure control equipment. Its products include Cactus SafeDrill wellhead systems as well as frac stacks, Cactus SafeLink monobore, SafeClamp and SafeInject systems. It also offers field services for its products and rental items to assist with the installation, maintenance, and handling of the wellhead and pressure control equipment.
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