Fisher Asset Management LLC Raises Stock Position in Cactus, Inc. (NYSE:WHD)

Fisher Asset Management LLC boosted its stake in shares of Cactus, Inc. (NYSE:WHD) by 10.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 330,444 shares of the company’s stock after buying an additional 30,014 shares during the quarter. Fisher Asset Management LLC owned 0.42% of Cactus worth $19,718,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in Cactus in the 3rd quarter valued at about $34,000. GAMMA Investing LLC boosted its stake 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 purchasing an additional 340 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of 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 purchasing an additional 307 shares in the last quarter. NJ State Employees Deferred Compensation Plan acquired a new position in shares of Cactus in the third quarter valued at approximately $209,000. Finally, CIBC Asset Management Inc purchased a new stake in Cactus during the 3rd quarter worth approximately $212,000. Institutional investors and hedge funds own 85.11% of the company’s stock.

Insiders Place Their Bets

In other news, COO Steven Bender sold 100,000 shares of Cactus stock in a transaction on Wednesday, November 6th. The stock was 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 of the company’s stock, valued at $3,762,003.45. The trade was a 63.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Stephen Tadlock sold 33,500 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $61.35, for a total transaction of $2,055,225.00. Following the completion of the sale, the chief executive officer now directly owns 36,357 shares in the company, valued at approximately $2,230,501.95. The trade was a 47.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 138,500 shares of company stock worth $8,916,325. 16.84% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WHD. Stifel Nicolaus reduced 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. Bank of America raised their price target on Cactus from $44.00 to $48.00 and gave the company an “underperform” rating in a research note on Monday, October 14th. Finally, Barclays cut Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price objective for the company. 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 given a buy rating to the company. According to MarketBeat.com, Cactus currently has a consensus rating of “Hold” and an average price target of $56.40.

Cactus Price Performance

Shares of NYSE:WHD opened at $67.70 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82. Cactus, Inc. has a one year low of $37.58 and a one year high of $70.01. The company has a 50-day simple moving average of $62.74 and a 200-day simple moving average of $57.76. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 3.28 and a beta of 1.95.

Cactus (NYSE:WHD) last released its earnings results 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 company had revenue of $293.18 million during the quarter, compared to analysts’ expectations of $287.47 million. During the same quarter last year, the business earned $0.80 EPS. The business’s revenue was up 1.8% on a year-over-year basis. On average, analysts predict that Cactus, Inc. will post 3.08 EPS 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 $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Monday, December 2nd. Cactus’s dividend payout ratio (DPR) is currently 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.