Quest Partners LLC Makes New $34,000 Investment in Cactus, Inc. (NYSE:WHD)

Quest Partners LLC acquired a new position in shares of Cactus, Inc. (NYSE:WHD) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 564 shares of the company’s stock, valued at approximately $34,000.

A number of other institutional investors have also recently bought and sold shares of WHD. Pacer Advisors Inc. acquired a new stake in shares of Cactus during the 2nd quarter valued at about $122,623,000. Makaira Partners LLC lifted its holdings in shares of Cactus by 399.6% during the 2nd quarter. Makaira Partners LLC now owns 499,581 shares of the company’s stock valued at $26,348,000 after buying an additional 399,581 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Cactus by 3,604.5% during the 2nd quarter. Principal Financial Group Inc. now owns 326,518 shares of the company’s stock valued at $17,221,000 after buying an additional 317,704 shares during the last quarter. Barlow Wealth Partners Inc. acquired a new stake in shares of Cactus during the 2nd quarter valued at about $14,553,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Cactus by 179.2% during the 2nd quarter. Renaissance Technologies LLC now owns 238,700 shares of the company’s stock valued at $12,589,000 after buying an additional 153,200 shares during the last quarter. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WHD has been the subject of several research reports. Bank of America lifted their price target on Cactus from $44.00 to $48.00 and gave the company an “underperform” rating in a report on Monday, October 14th. Barclays lowered Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price target for the company. in a report on Monday, November 4th. Finally, Stifel Nicolaus reduced their target price on Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $56.40.

Cactus Stock Up 1.4 %

WHD opened at $68.66 on Monday. The business has a 50 day moving average price of $63.09 and a 200 day moving average price of $58.07. Cactus, Inc. has a twelve month low of $37.58 and a twelve month high of $70.01. 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 firm has a market cap of $5.46 billion, a P/E ratio of 24.35, a price-to-earnings-growth ratio of 3.24 and a beta of 1.95.

Cactus (NYSE:WHD) last posted its earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.04. The firm had revenue of $293.18 million during the quarter, compared to analyst estimates of $287.47 million. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.80 EPS. Research analysts forecast that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Monday, December 2nd. Cactus’s dividend payout ratio is presently 18.44%.

Insider Activity

In other Cactus news, COO Steven Bender sold 100,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $65.35, for a total value of $6,535,000.00. Following the transaction, the chief operating officer now owns 57,567 shares of the company’s stock, valued at approximately $3,762,003.45. The trade was a 63.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Stephen Tadlock sold 33,500 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $61.35, for a total value of $2,055,225.00. Following the completion of the transaction, the chief executive officer now directly owns 36,357 shares in the company, valued at approximately $2,230,501.95. This represents a 47.96 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 138,500 shares of company stock worth $8,916,325. Company insiders own 17.72% of the company’s stock.

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.