Tidal Investments LLC Buys 2,591 Shares of Cactus, Inc. (NYSE:WHD)

Tidal Investments LLC boosted its stake in Cactus, Inc. (NYSE:WHD) by 9.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,204 shares of the company’s stock after acquiring an additional 2,591 shares during the period. Tidal Investments LLC’s holdings in Cactus were worth $1,862,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in WHD. Quest Partners LLC bought a new position in shares of Cactus during the 3rd quarter worth approximately $34,000. GAMMA Investing LLC boosted its holdings in shares of Cactus by 81.5% during the 3rd quarter. GAMMA Investing LLC now owns 2,441 shares of the company’s stock worth $146,000 after buying an additional 1,096 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Cactus during the 3rd quarter worth approximately $177,000. Nisa Investment Advisors LLC boosted its holdings in shares of Cactus by 10.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company’s stock worth $188,000 after buying an additional 307 shares in the last quarter. Finally, NJ State Employees Deferred Compensation Plan bought a new position in shares of Cactus during the 3rd quarter worth approximately $209,000. 85.11% of the stock is currently owned by institutional investors.

Insider Activity at Cactus

In other news, 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 of the company’s stock, valued at $794,183.94. This trade represents a 29.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Steven Bender sold 100,000 shares of the firm’s 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 sale, the chief operating officer now directly owns 57,567 shares of the company’s stock, valued at approximately $3,762,003.45. This represents a 63.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 138,500 shares of company stock valued at $8,916,325. 17.71% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on WHD. Stifel Nicolaus cut their price target on Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Barclays cut Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price target on the stock. in a report on Monday, November 4th. Finally, Bank of America increased their price target on Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $56.40.

Cactus Price Performance

Shares of WHD opened at $61.49 on Wednesday. Cactus, Inc. has a 12-month low of $37.58 and a 12-month high of $70.01. The business’s fifty day moving average is $63.84 and its 200 day moving average is $59.20. 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 stock has a market cap of $4.89 billion, a P/E ratio of 21.80, a P/E/G ratio of 2.98 and a beta of 1.97.

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

Cactus Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 2nd will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Monday, December 2nd. Cactus’s payout ratio is currently 18.44%.

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.