Geode Capital Management LLC Raises Position in Cactus, Inc. (NYSE:WHD)

Geode Capital Management LLC increased its position in shares of Cactus, Inc. (NYSE:WHD) by 6.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,758,286 shares of the company’s stock after purchasing an additional 106,819 shares during the period. Geode Capital Management LLC owned approximately 2.21% of Cactus worth $104,934,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new position in shares of Cactus during the 3rd quarter worth approximately $34,000. GAMMA Investing LLC raised its position in Cactus by 81.5% in the third quarter. GAMMA Investing LLC now owns 2,441 shares of the company’s stock worth $146,000 after acquiring an additional 1,096 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in 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 acquiring an additional 307 shares during the period. NJ State Employees Deferred Compensation Plan purchased a new stake in shares of Cactus during the 3rd quarter worth $209,000. Finally, CIBC Asset Management Inc acquired a new position in shares of Cactus during the 3rd quarter worth $212,000. Institutional investors and hedge funds own 85.11% of the company’s stock.

Cactus Stock Down 5.4 %

WHD stock opened at $58.18 on Thursday. 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, Inc. has a 12 month low of $37.58 and a 12 month high of $70.01. The firm has a market capitalization of $4.63 billion, a PE ratio of 20.63, a P/E/G ratio of 2.98 and a beta of 1.97. The company’s 50 day simple moving average is $63.82 and its 200-day simple moving average is $59.27.

Cactus (NYSE:WHD) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.04. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The company had revenue of $293.18 million during the quarter, compared to the consensus estimate of $287.47 million. During the same quarter last year, the business posted $0.80 earnings per share. Cactus’s revenue was up 1.8% compared to the same quarter last year. Equities analysts expect that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Dividend Announcement

The company 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 0.89%. Cactus’s dividend payout ratio (DPR) is 18.44%.

Insiders Place Their Bets

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 transaction of $6,535,000.00. Following the sale, the chief operating officer now owns 57,567 shares in the company, valued at approximately $3,762,003.45. This trade represents a 63.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce M. Rothstein sold 5,000 shares of the business’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 completion of the transaction, the director now 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 disclosure for this sale can be found here. Insiders have sold 138,500 shares of company stock valued at $8,916,325 in the last ninety days. Insiders own 17.71% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on WHD. Bank of America raised their price objective 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. Barclays lowered Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price target on the stock. in a research note on Monday, November 4th. Finally, Stifel Nicolaus dropped their price objective on Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a research note on Friday, October 11th. 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 company’s stock. According to MarketBeat, Cactus presently has an average 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.