Public Sector Pension Investment Board Sells 3,600 Shares of Cactus, Inc. (NYSE:WHD)

Public Sector Pension Investment Board cut its holdings in Cactus, Inc. (NYSE:WHD) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,007 shares of the company’s stock after selling 3,600 shares during the quarter. Public Sector Pension Investment Board’s holdings in Cactus were worth $8,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. purchased a new stake in Cactus in the 2nd quarter worth approximately $122,623,000. Makaira Partners LLC raised its holdings in shares of Cactus by 399.6% during the second quarter. Makaira Partners LLC now owns 499,581 shares of the company’s stock valued at $26,348,000 after acquiring an additional 399,581 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Cactus by 3,604.5% during the second quarter. Principal Financial Group Inc. now owns 326,518 shares of the company’s stock valued at $17,221,000 after acquiring an additional 317,704 shares in the last quarter. Barlow Wealth Partners Inc. purchased a new stake in Cactus in the second quarter worth $14,553,000. Finally, Bridgewater Associates LP bought a new stake in Cactus in the third quarter valued at $9,501,000. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Cactus

In other news, CEO Stephen Tadlock sold 33,500 shares of the 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 sale, the chief executive officer now directly owns 36,357 shares of the company’s stock, valued at approximately $2,230,501.95. This represents a 47.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 value of $326,100.00. Following the transaction, the director now 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. Over the last 90 days, insiders sold 138,500 shares of company stock worth $8,916,325. 17.72% of the stock is owned by insiders.

Cactus Stock Up 1.4 %

NYSE:WHD opened at $68.66 on Friday. Cactus, Inc. has a 1-year low of $37.58 and a 1-year high of $70.01. The company has a market capitalization of $5.46 billion, a PE ratio of 24.35, a P/E/G ratio of 3.19 and a beta of 1.95. The firm’s 50-day moving average price is $62.98 and its 200-day moving average price is $57.90. 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 (NYSE:WHD) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.79 EPS for the quarter, topping 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 business had revenue of $293.18 million for the quarter, compared to analyst estimates of $287.47 million. During the same quarter in the previous year, the firm posted $0.80 earnings per share. Cactus’s quarterly revenue was up 1.8% on a year-over-year basis. On average, equities analysts predict that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors 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 yield of 0.76%. The ex-dividend date is Monday, December 2nd. Cactus’s dividend payout ratio (DPR) is presently 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.