Vestcor Inc Reduces Stock Holdings in Cactus, Inc. (NYSE:WHD)

Vestcor Inc lessened its holdings in shares of Cactus, Inc. (NYSE:WHD) by 92.3% in the third quarter, Holdings Channel.com reports. The firm owned 1,494 shares of the company’s stock after selling 17,948 shares during the period. Vestcor Inc’s holdings in Cactus were worth $89,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of WHD. Pacer Advisors Inc. purchased a new stake in Cactus during the 2nd quarter worth about $122,623,000. Makaira Partners LLC boosted its holdings in Cactus by 399.6% in the 2nd quarter. Makaira Partners LLC now owns 499,581 shares of the company’s stock valued at $26,348,000 after purchasing an additional 399,581 shares during the period. Principal Financial Group Inc. grew its position in shares of Cactus by 3,604.5% during the 2nd quarter. Principal Financial Group Inc. now owns 326,518 shares of the company’s stock valued at $17,221,000 after purchasing an additional 317,704 shares in the last quarter. Barlow Wealth Partners Inc. bought a new position in shares of Cactus in the second quarter worth $14,553,000. Finally, Weiss Asset Management LP bought a new position in shares of Cactus in the third quarter worth $13,647,000. Institutional investors own 85.11% of the company’s stock.

Cactus Stock Down 0.2 %

Shares of NYSE WHD opened at $63.16 on Friday. The stock has a market capitalization of $5.03 billion, a P/E ratio of 22.40, a PEG ratio of 3.06 and a beta of 1.97. Cactus, Inc. has a one year low of $37.58 and a one year high of $70.01. The firm’s 50 day simple moving average is $63.87 and its two-hundred day simple moving average is $58.99. 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 released its earnings results on Wednesday, October 30th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.75 by $0.04. The company 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%. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.80 EPS. As a group, analysts expect that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 2nd will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Monday, December 2nd. Cactus’s dividend payout ratio (DPR) is presently 18.44%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WHD. Stifel Nicolaus decreased their target price on Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Bank of America raised their target price on shares of 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 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 note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $56.40.

Insider Activity

In related news, COO Steven Bender sold 100,000 shares of Cactus stock in a transaction 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 transaction, the chief operating officer now directly owns 57,567 shares of the company’s stock, valued at $3,762,003.45. The trade was a 63.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $65.22, for a total transaction of $326,100.00. Following the completion of the sale, the director now directly owns 12,177 shares in the company, valued at approximately $794,183.94. This trade represents a 29.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 138,500 shares of company stock valued at $8,916,325. Insiders own 17.72% of the company’s stock.

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.