Portside Wealth Group LLC Takes $243,000 Position in Cactus, Inc. (NYSE:WHD)

Portside Wealth Group LLC purchased a new position in shares of Cactus, Inc. (NYSE:WHD) in the third quarter, HoldingsChannel.com reports. The firm purchased 4,080 shares of the company’s stock, valued at approximately $243,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of Cactus by 33.8% in the second quarter. GAMMA Investing LLC now owns 1,345 shares of the company’s stock valued at $71,000 after buying an additional 340 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Cactus in the 1st quarter valued at approximately $115,000. Covestor Ltd increased its holdings in shares of Cactus by 251.8% in the first quarter. Covestor Ltd now owns 2,508 shares of the company’s stock valued at $126,000 after purchasing an additional 1,795 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Cactus by 10.8% during the third quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company’s stock worth $188,000 after purchasing an additional 307 shares during the last quarter. Finally, Cim LLC acquired a new stake in shares of Cactus during the second quarter worth $219,000. 85.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cactus news, COO Steven Bender sold 100,000 shares of Cactus stock in a transaction dated 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 completion of the sale, the chief operating officer now owns 57,567 shares in the company, valued at $3,762,003.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Steven Bender sold 100,000 shares of the firm’s 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 sale, the chief operating officer now directly owns 57,567 shares of the company’s stock, valued at approximately $3,762,003.45. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen Tadlock sold 33,500 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $61.35, for a total transaction of $2,055,225.00. Following the transaction, the chief executive officer now directly owns 36,357 shares of the company’s stock, valued at $2,230,501.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 17.71% of the stock is currently owned by company insiders.

Cactus Price Performance

Cactus stock opened at $67.22 on Friday. The stock has a market capitalization of $5.35 billion, a P/E ratio of 23.84, a P/E/G ratio of 3.29 and a beta of 1.95. Cactus, Inc. has a 12-month low of $37.58 and a 12-month high of $69.77. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67. The firm’s 50-day moving average is $60.28 and its two-hundred day moving average is $56.38.

Cactus (NYSE:WHD) last announced its earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.04. The firm had revenue of $293.18 million for the quarter, compared to analyst estimates of $287.47 million. Cactus had a net margin of 16.57% and a return on equity of 20.24%. Cactus’s revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.80 earnings per share. Equities analysts predict that Cactus, Inc. will post 3.07 earnings per share for the current year.

Cactus Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 2nd will be paid a $0.13 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.52 annualized dividend and a yield of 0.77%. Cactus’s payout ratio is currently 18.44%.

Analyst Ratings Changes

WHD has been the subject of several recent analyst reports. Piper Sandler reduced their target price on shares of Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Bank of America boosted their target price on Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a research report on Monday, October 14th. Barclays cut 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 dropped their price objective on Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a report on Friday, October 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.40.

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.