Geode Capital Management LLC Grows Holdings in Cactus, Inc. (NYSE:WHD)

Geode Capital Management LLC increased its position in shares of Cactus, Inc. (NYSE:WHD) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,804,107 shares of the company’s stock after purchasing an additional 45,821 shares during the quarter. Geode Capital Management LLC owned approximately 2.27% of Cactus worth $105,308,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WHD. Smartleaf Asset Management LLC boosted its holdings in Cactus by 74.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 522 shares of the company’s stock worth $30,000 after purchasing an additional 223 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Cactus by 165.4% during the fourth quarter. Versant Capital Management Inc now owns 576 shares of the company’s stock worth $34,000 after purchasing an additional 359 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in Cactus by 66.9% during the fourth quarter. Jones Financial Companies Lllp now owns 841 shares of the company’s stock worth $49,000 after purchasing an additional 337 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Cactus during the fourth quarter worth about $76,000. Finally, AlphaQuest LLC boosted its holdings in Cactus by 202.5% during the fourth quarter. AlphaQuest LLC now owns 1,706 shares of the company’s stock worth $100,000 after purchasing an additional 1,142 shares during the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Cactus Stock Up 11.6 %

WHD opened at $39.13 on Thursday. The company’s 50-day moving average price is $50.24 and its two-hundred day moving average price is $58.08. Cactus, Inc. has a twelve month low of $33.80 and a twelve month high of $70.01. The company has a quick ratio of 2.67, a current ratio of 3.82 and a debt-to-equity ratio of 0.01. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 5.13 and a beta of 1.74.

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

Cactus Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 3rd were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend was Monday, March 3rd. Cactus’s dividend payout ratio (DPR) is currently 18.84%.

Wall Street Analysts Forecast Growth

Separately, Barclays dropped their target price 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 equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price 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.