Prudential Financial Inc. Lowers Stock Holdings in Cactus, Inc. (NYSE:WHD)

Prudential Financial Inc. cut its holdings in shares of Cactus, Inc. (NYSE:WHD) by 1.8% during the fourth quarter, Holdings Channel reports. The firm owned 68,807 shares of the company’s stock after selling 1,289 shares during the quarter. Prudential Financial Inc.’s holdings in Cactus were worth $4,421,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in WHD. Raymond James Financial Inc. acquired a new stake in Cactus during the 4th quarter worth approximately $16,377,000. Weiss Asset Management LP acquired a new stake in shares of Cactus in the third quarter valued at $13,647,000. Fisher Asset Management LLC raised its stake in shares of Cactus by 65.5% in the fourth quarter. Fisher Asset Management LLC now owns 546,987 shares of the company’s stock valued at $31,922,000 after acquiring an additional 216,543 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Cactus by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 7,680,731 shares of the company’s stock valued at $448,247,000 after purchasing an additional 147,395 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in Cactus by 394.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 160,005 shares of the company’s stock worth $9,338,000 after purchasing an additional 127,614 shares in the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Barclays dropped their price objective on shares of Cactus from $61.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, four have assigned 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 target price of $55.00.

Cactus Stock Up 0.3 %

Shares of NYSE:WHD opened at $45.79 on Tuesday. 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 firm has a 50 day simple moving average of $54.27 and a 200-day simple moving average of $59.38. The company has a market capitalization of $3.64 billion, a PE ratio of 16.24, a P/E/G ratio of 5.13 and a beta of 2.05. Cactus, Inc. has a twelve month low of $43.27 and a twelve month high of $70.01.

Cactus (NYSE:WHD) last released its quarterly earnings data 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 company had revenue of $272.12 million during the quarter, compared to analyst estimates of $277.59 million. On average, equities analysts predict that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 3rd were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Monday, March 3rd. Cactus’s dividend payout ratio (DPR) is 18.84%.

About Cactus

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.