Cactus, Inc. (NYSE:WHD) Holdings Decreased by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS trimmed its position in Cactus, Inc. (NYSE:WHD) by 18.6% in the third quarter, Holdings Channel.com reports. The fund owned 179,610 shares of the company’s stock after selling 40,945 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Cactus were worth $10,717,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. bought a new position in Cactus during the 2nd quarter worth $122,623,000. Makaira Partners LLC grew its stake in Cactus by 399.6% during the 2nd quarter. Makaira Partners LLC now owns 499,581 shares of the company’s stock worth $26,348,000 after buying an additional 399,581 shares during the last quarter. Principal Financial Group Inc. grew its stake in Cactus by 3,604.5% during the 2nd quarter. Principal Financial Group Inc. now owns 326,518 shares of the company’s stock worth $17,221,000 after buying an additional 317,704 shares during the last quarter. Barlow Wealth Partners Inc. bought a new position in Cactus during the 2nd quarter worth $14,553,000. Finally, Renaissance Technologies LLC grew its stake in Cactus by 179.2% during the 2nd quarter. Renaissance Technologies LLC now owns 238,700 shares of the company’s stock worth $12,589,000 after buying an additional 153,200 shares during the last quarter. 85.11% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Stephen Tadlock sold 33,500 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $61.35, for a total value of $2,055,225.00. Following the completion of the transaction, the chief executive officer now owns 36,357 shares of the company’s stock, valued at approximately $2,230,501.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 17.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Bank of America boosted their price target on Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a research report on Monday, October 14th. Barclays lowered Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price target for the company. in a research report on Monday. Stifel Nicolaus reduced their price target on Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Finally, Piper Sandler reduced their price target on Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. One 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.40.

Cactus Trading Down 4.6 %

Shares of Cactus stock opened at $66.16 on Friday. 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 $5.27 billion, a price-to-earnings ratio of 23.46, a price-to-earnings-growth ratio of 3.29 and a beta of 1.95. The business has a fifty day simple moving average of $60.12 and a 200-day simple moving average of $56.25. Cactus, Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $69.77.

Cactus (NYSE:WHD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.79 earnings per share for the quarter, beating 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 business had revenue of $293.18 million during the quarter, compared to analyst estimates of $287.47 million. During the same quarter in the prior year, the firm posted $0.80 earnings per share. The company’s revenue was up 1.8% on a year-over-year basis. On average, equities analysts forecast that Cactus, Inc. will post 3.07 EPS for the current fiscal year.

Cactus Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 2nd will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.79%. 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.