Central Pacific Bank Trust Division Raises Stock Holdings in Cactus, Inc. (NYSE:WHD)

Central Pacific Bank Trust Division grew its stake in shares of Cactus, Inc. (NYSE:WHD) by 32.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,336 shares of the company’s stock after buying an additional 820 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Cactus were worth $195,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Quest Partners LLC purchased a new stake in Cactus in the third quarter worth approximately $34,000. Versant Capital Management Inc boosted its stake in shares of Cactus by 165.4% in the 4th quarter. Versant Capital Management Inc now owns 576 shares of the company’s stock worth $34,000 after buying an additional 359 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Cactus by 81.5% in the third quarter. GAMMA Investing LLC now owns 2,441 shares of the company’s stock worth $146,000 after acquiring an additional 1,096 shares during the period. Sanctuary Advisors LLC purchased a new stake in Cactus during the third quarter valued at $177,000. Finally, Nisa Investment Advisors LLC lifted its holdings in Cactus by 10.8% in the third quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company’s stock valued at $188,000 after acquiring an additional 307 shares during the period. 85.11% of the stock is currently owned by institutional investors.

Insider Transactions at Cactus

In related news, COO Steven Bender sold 100,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $65.35, for a total transaction of $6,535,000.00. Following the completion of the transaction, the chief operating officer now owns 57,567 shares in the company, valued at approximately $3,762,003.45. This represents a 63.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce M. Rothstein sold 5,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $65.22, for a total transaction of $326,100.00. Following the transaction, the director now directly owns 12,177 shares of the company’s stock, valued at $794,183.94. The trade was a 29.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 138,500 shares of company stock valued at $8,916,325 over the last 90 days. Company insiders own 17.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Barclays lowered shares of Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price target for the company. in a research report on Monday, November 4th. Stifel Nicolaus reduced their target price on shares of Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a report on Friday, October 11th. Finally, Bank of America boosted their price objective on shares of Cactus from $44.00 to $48.00 and gave the company an “underperform” rating in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Cactus currently has an average rating of “Hold” and a consensus target price of $56.40.

Cactus Trading Up 2.4 %

Cactus stock opened at $60.92 on Friday. The company has a current ratio of 3.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a 12-month low of $37.58 and a 12-month high of $70.01. The firm has a market capitalization of $4.85 billion, a price-to-earnings ratio of 21.60, a P/E/G ratio of 2.98 and a beta of 1.98. The firm has a 50 day moving average of $63.07 and a 200 day moving average of $59.89.

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

Cactus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Monday, December 2nd were given a $0.13 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.52 annualized dividend and a dividend yield of 0.85%. Cactus’s payout ratio is 18.44%.

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.