Jennison Associates LLC Sells 73,046 Shares of Cactus, Inc. (NYSE:WHD)

Jennison Associates LLC trimmed its position in shares of Cactus, Inc. (NYSE:WHD) by 11.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 569,749 shares of the company’s stock after selling 73,046 shares during the period. Jennison Associates LLC’s holdings in Cactus were worth $33,251,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of WHD. KBC Group NV boosted its stake in Cactus by 54.2% in the fourth quarter. KBC Group NV now owns 3,013 shares of the company’s stock valued at $176,000 after acquiring an additional 1,059 shares in the last quarter. Andina Capital Management LLC increased its position in shares of Cactus by 25.1% during the fourth quarter. Andina Capital Management LLC now owns 15,445 shares of the company’s stock worth $901,000 after purchasing an additional 3,097 shares in the last quarter. Barlow Wealth Partners Inc. lifted its holdings in shares of Cactus by 4.6% during the 4th quarter. Barlow Wealth Partners Inc. now owns 270,435 shares of the company’s stock valued at $17,083,000 after purchasing an additional 11,968 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Cactus by 7.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,369 shares of the company’s stock worth $197,000 after purchasing an additional 221 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH grew its stake in Cactus by 36.6% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 363,951 shares of the company’s stock worth $21,240,000 after buying an additional 97,570 shares during the last quarter. 85.11% of the stock is currently owned by institutional investors.

Cactus Price Performance

Shares of NYSE WHD opened at $60.62 on Wednesday. Cactus, Inc. has a 52 week low of $40.28 and a 52 week high of $70.01. The business’s 50 day moving average price is $61.68 and its 200 day moving average price is $61.17. The company has a quick ratio of 2.67, a current ratio of 3.82 and a debt-to-equity ratio of 0.01. The firm has a market cap of $4.82 billion, a P/E ratio of 21.50, a P/E/G ratio of 5.14 and a beta of 1.97.

Cactus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 3rd will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, March 3rd. Cactus’s dividend payout ratio (DPR) is currently 18.44%.

Insider Transactions at Cactus

In related news, Director Bruce M. Rothstein sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $65.22, for a total transaction of $326,100.00. Following the sale, the director now directly owns 12,177 shares of the company’s stock, valued at $794,183.94. This trade represents a 29.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 16.84% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Stifel Nicolaus lowered their price target on Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a report on Friday, October 11th. Barclays cut shares of Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 target price for the company. in a research note on Monday, November 4th. Finally, Bank of America upped their price target 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cactus has a consensus rating of “Hold” and an average 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.