Vestcor Inc Boosts Stock Holdings in Cactus, Inc. (NYSE:WHD)

Vestcor Inc raised its stake in Cactus, Inc. (NYSE:WHD) by 321.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 6,293 shares of the company’s stock after purchasing an additional 4,799 shares during the quarter. Vestcor Inc’s holdings in Cactus were worth $367,000 at the end of the most recent reporting period.

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

Cactus Price Performance

Shares of Cactus stock opened at $45.75 on Tuesday. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 5.13 and a beta of 2.05. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82. The stock has a 50 day moving average price of $57.24 and a 200-day moving average price of $60.07. Cactus, Inc. has a one year low of $43.27 and a one year high of $70.01.

Cactus (NYSE:WHD) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.71 EPS 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 for the quarter, compared to analysts’ expectations of $277.59 million. Equities analysts expect that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Announces Dividend

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

Analysts Set New Price Targets

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

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.