Congress Wealth Management LLC DE Purchases 3,756 Shares of Cactus, Inc. (NYSE:WHD)

Congress Wealth Management LLC DE lifted its stake in Cactus, Inc. (NYSE:WHDGet Rating) by 14.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,155 shares of the company’s stock after acquiring an additional 3,756 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Cactus were worth $1,174,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in WHD. EverSource Wealth Advisors LLC boosted its holdings in shares of Cactus by 866.7% in the second quarter. EverSource Wealth Advisors LLC now owns 667 shares of the company’s stock worth $27,000 after buying an additional 598 shares during the last quarter. CWM LLC lifted its holdings in Cactus by 35.3% during the second quarter. CWM LLC now owns 2,956 shares of the company’s stock valued at $119,000 after purchasing an additional 771 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Cactus by 70.5% during the first quarter. PNC Financial Services Group Inc. now owns 3,016 shares of the company’s stock valued at $172,000 after purchasing an additional 1,247 shares in the last quarter. Vident Investment Advisory LLC purchased a new position in shares of Cactus in the first quarter worth $200,000. Finally, Park Avenue Securities LLC purchased a new position in shares of Cactus in the first quarter worth $208,000. 83.96% of the stock is currently owned by institutional investors.

Cactus Stock Performance

WHD stock opened at $53.68 on Thursday. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 34.86, a PEG ratio of 0.54 and a beta of 1.96. The firm has a 50-day simple moving average of $47.22 and a two-hundred day simple moving average of $44.56. Cactus, Inc. has a one year low of $34.70 and a one year high of $64.18. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.51 and a current ratio of 4.74.

Cactus (NYSE:WHDGet Rating) last released its quarterly earnings results on Monday, November 7th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. The business had revenue of $184.50 million during the quarter, compared to analyst estimates of $183.08 million. Cactus had a net margin of 14.94% and a return on equity of 14.60%. The company’s quarterly revenue was up 59.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.19 earnings per share. On average, equities analysts forecast that Cactus, Inc. will post 1.78 EPS for the current fiscal year.

Cactus Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Monday, November 28th will be issued a dividend of $0.11 per share. The ex-dividend date is Friday, November 25th. This represents a $0.44 annualized dividend and a dividend yield of 0.82%. Cactus’s dividend payout ratio (DPR) is currently 28.57%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Citigroup boosted their target price on shares of Cactus from $47.00 to $58.00 in a report on Sunday, November 13th. Bank of America boosted their target price on shares of Cactus from $45.00 to $59.00 and gave the stock a “neutral” rating in a report on Tuesday, November 8th. Morgan Stanley boosted their price target on shares of Cactus from $50.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, September 26th. Finally, Barclays cut shares of Cactus from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $52.00 to $48.00 in a research report on Thursday, October 6th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Cactus presently has a consensus rating of “Hold” and an average target price of $56.17.

Cactus Profile

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Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment in the United States, Australia, China, and the Kingdom of Saudi Arabia. The company's principal products include Cactus SafeDrill wellhead systems, Cactus SafeLink monobore, SafeClamp, and SafeInject systems, as well as frac stacks, zipper manifolds, and production trees.

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Institutional Ownership by Quarter for Cactus (NYSE:WHD)

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