Jennison Associates LLC Has $58.59 Million Position in Cactus, Inc. (NYSE:WHD)

Jennison Associates LLC reduced its position in shares of Cactus, Inc. (NYSE:WHD) by 5.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,290,574 shares of the company’s stock after selling 69,734 shares during the quarter. Jennison Associates LLC’s holdings in Cactus were worth $58,592,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Cactus by 26.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,422 shares of the company’s stock worth $746,000 after acquiring an additional 3,405 shares during the period. Cerity Partners LLC increased its stake in Cactus by 17.5% during the 4th quarter. Cerity Partners LLC now owns 11,142 shares of the company’s stock worth $506,000 after acquiring an additional 1,660 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Cactus by 2.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,101 shares of the company’s stock worth $1,321,000 after acquiring an additional 575 shares during the period. Boston Trust Walden Corp increased its stake in Cactus by 1.4% during the 4th quarter. Boston Trust Walden Corp now owns 1,941,115 shares of the company’s stock worth $88,127,000 after acquiring an additional 26,185 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in Cactus by 198.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 208,010 shares of the company’s stock worth $9,444,000 after acquiring an additional 138,294 shares during the period. 85.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WHD. Stifel Nicolaus decreased their price target on Cactus from $68.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, January 3rd. Bank of America lifted their price target on Cactus from $40.00 to $43.00 and gave the company an “underperform” rating in a research note on Monday, April 15th. Finally, Benchmark lowered Cactus from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $55.29.

Cactus Trading Up 2.6 %

NYSE WHD opened at $52.56 on Wednesday. The company has a quick ratio of 2.00, a current ratio of 3.17 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a twelve month low of $31.36 and a twelve month high of $57.00. The company has a market cap of $4.17 billion, a price-to-earnings ratio of 20.61, a price-to-earnings-growth ratio of 9.21 and a beta of 1.96. The business’s fifty day moving average is $48.10 and its 200 day moving average is $45.46.

Cactus (NYSE:WHD) last released its quarterly earnings data on Thursday, February 29th. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.13. Cactus had a return on equity of 22.69% and a net margin of 15.42%. The company had revenue of $274.87 million for the quarter, compared to the consensus estimate of $268.56 million. During the same quarter last year, the business posted $0.57 EPS. Cactus’s revenue for the quarter was up 46.4% on a year-over-year basis. As a group, sell-side analysts expect that Cactus, Inc. will post 2.87 EPS for the current fiscal year.

Insider Activity at Cactus

In other Cactus news, CEO Scott Bender sold 78,000 shares of Cactus stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $45.79, for a total transaction of $3,571,620.00. Following the transaction, the chief executive officer now directly owns 20 shares of the company’s stock, valued at approximately $915.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Cactus news, EVP William D. Marsh sold 1,700 shares of Cactus stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $46.20, for a total transaction of $78,540.00. Following the transaction, the executive vice president now directly owns 3,911 shares of the company’s stock, valued at approximately $180,688.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott Bender sold 78,000 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $45.79, for a total value of $3,571,620.00. Following the completion of the transaction, the chief executive officer now directly owns 20 shares in the company, valued at $915.80. The disclosure for this sale can be found here. 16.84% of the stock is currently owned by company insiders.

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.