Corebridge Financial Inc. Cuts Stock Holdings in Cactus, Inc. (NYSE:WHD)

Corebridge Financial Inc. trimmed its stake in shares of Cactus, Inc. (NYSE:WHD) by 5.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 35,488 shares of the company’s stock after selling 2,155 shares during the quarter. Corebridge Financial Inc.’s holdings in Cactus were worth $2,071,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of WHD. Smartleaf Asset Management LLC boosted its stake in shares of Cactus by 74.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 522 shares of the company’s stock valued at $30,000 after purchasing an additional 223 shares during the period. Versant Capital Management Inc raised its holdings in Cactus by 165.4% during the 4th quarter. Versant Capital Management Inc now owns 576 shares of the company’s stock valued at $34,000 after buying an additional 359 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Cactus by 66.9% during the 4th quarter. Jones Financial Companies Lllp now owns 841 shares of the company’s stock valued at $49,000 after buying an additional 337 shares during the period. AlphaQuest LLC grew its holdings in Cactus by 202.5% in the 4th quarter. AlphaQuest LLC now owns 1,706 shares of the company’s stock worth $100,000 after acquiring an additional 1,142 shares during the last quarter. Finally, KBC Group NV increased its position in shares of Cactus by 54.2% in the fourth quarter. KBC Group NV now owns 3,013 shares of the company’s stock valued at $176,000 after acquiring an additional 1,059 shares during the period. 85.11% of the stock is owned by hedge funds and other institutional investors.

Cactus Trading Up 1.1 %

NYSE:WHD opened at $46.34 on Wednesday. Cactus, Inc. has a 12 month low of $43.27 and a 12 month high of $70.01. The company has a current ratio of 3.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $53.92 and a 200-day moving average price of $59.31. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 16.43, a P/E/G ratio of 5.13 and a beta of 2.05.

Cactus (NYSE:WHD) last posted its quarterly earnings data 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 net margin of 16.57% and a return on equity of 20.24%. The firm had revenue of $272.12 million for the quarter, compared to the consensus estimate of $277.59 million. Equities analysts predict that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 3rd were paid a $0.13 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.52 annualized dividend and a yield of 1.12%. Cactus’s payout ratio is 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 for the company in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.