Barclays PLC Grows Position in Cactus, Inc. (NYSE:WHD)

Barclays PLC increased its holdings in shares of Cactus, Inc. (NYSE:WHD) by 429.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 123,562 shares of the company’s stock after purchasing an additional 100,223 shares during the quarter. Barclays PLC owned 0.16% of Cactus worth $7,373,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Bridgewater Associates LP acquired a new position in Cactus during the 3rd quarter worth approximately $9,501,000. Rhumbline Advisers increased its position in Cactus by 69.7% in the second quarter. Rhumbline Advisers now owns 206,982 shares of the company’s stock worth $10,916,000 after buying an additional 84,984 shares during the period. TD Asset Management Inc increased its holdings in shares of Cactus by 160.8% during the second quarter. TD Asset Management Inc now owns 38,600 shares of the company’s stock valued at $2,036,000 after purchasing an additional 23,800 shares during the period. Amalgamated Bank boosted its holdings in shares of Cactus by 800.4% in the second quarter. Amalgamated Bank now owns 20,071 shares of the company’s stock valued at $1,059,000 after acquiring an additional 17,842 shares in the last quarter. Finally, Citigroup Inc. boosted its position in shares of Cactus by 81.2% during the 3rd quarter. Citigroup Inc. now owns 89,464 shares of the company’s stock valued at $5,338,000 after purchasing an additional 40,099 shares in the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Insider Buying and Selling at Cactus

In other Cactus news, COO Steven Bender sold 100,000 shares of Cactus stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Bruce M. Rothstein sold 5,000 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $65.22, for a total transaction of $326,100.00. Following the sale, the director now directly owns 12,177 shares of the company’s stock, valued at $794,183.94. This represents a 29.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 138,500 shares of company stock valued at $8,916,325. Company insiders own 17.71% of the company’s stock.

Wall Street Analyst Weigh In

WHD has been the topic of several recent analyst reports. Bank of America upped their price target on Cactus from $44.00 to $48.00 and gave the company an “underperform” rating in a research report on Monday, October 14th. Barclays lowered shares of Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 target price for the company. in a research report on Monday, November 4th. Finally, Stifel Nicolaus dropped their price objective on shares of Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a report on Friday, October 11th. One research 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $56.40.

Cactus Stock Performance

Shares of WHD stock opened at $58.18 on Thursday. The stock has a market cap of $4.63 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 2.98 and a beta of 1.97. The stock has a 50-day moving average of $63.82 and a 200-day moving average of $59.27. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67. Cactus, Inc. has a one year low of $37.58 and a one year high of $70.01.

Cactus (NYSE:WHD) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.04. The firm had revenue of $293.18 million during the quarter, compared to analysts’ expectations of $287.47 million. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.80 earnings per share. As a group, sell-side analysts expect that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.13 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.52 annualized dividend and a yield of 0.89%. Cactus’s dividend payout ratio is presently 18.44%.

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.