Townsquare Capital LLC Raises Stock Position in Cactus, Inc. (NYSE:WHD)

Townsquare Capital LLC raised its stake in shares of Cactus, Inc. (NYSE:WHD) by 9.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,507 shares of the company’s stock after purchasing an additional 5,379 shares during the period. Townsquare Capital LLC’s holdings in Cactus were worth $3,610,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. acquired a new position in shares of Cactus during the 2nd quarter worth about $122,623,000. Boston Trust Walden Corp lifted its position in shares of Cactus by 1.3% in the second quarter. Boston Trust Walden Corp now owns 1,955,227 shares of the company’s stock valued at $103,119,000 after acquiring an additional 25,839 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Cactus by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,153,087 shares of the company’s stock worth $60,811,000 after acquiring an additional 38,983 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Cactus by 3.9% during the third quarter. Victory Capital Management Inc. now owns 761,745 shares of the company’s stock worth $45,453,000 after purchasing an additional 28,663 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Cactus by 8.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 687,816 shares of the company’s stock valued at $41,042,000 after purchasing an additional 53,318 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on WHD. Stifel Nicolaus lowered their target price on shares of Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Bank of America upped 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. Finally, Barclays lowered shares of Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 target price on the stock. in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $56.40.

Insiders Place Their Bets

In related news, Director Bruce M. Rothstein sold 5,000 shares of the business’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 transaction, the director now directly owns 12,177 shares of the company’s stock, valued at $794,183.94. The trade was a 29.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Steven Bender sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 $3,762,003.45. The trade was a 63.47 % 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 worth $8,916,325 over the last three months. Company insiders own 17.72% of the company’s stock.

Cactus Price Performance

Cactus stock opened at $68.66 on Friday. The stock has a market cap of $5.46 billion, a P/E ratio of 24.35, a PEG ratio of 3.19 and a beta of 1.95. The company has a current ratio of 3.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $62.98 and a 200 day moving average price of $57.90. Cactus, Inc. has a 12-month low of $37.58 and a 12-month high of $70.01.

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

Cactus Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors 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 annualized dividend and a dividend yield of 0.76%. Cactus’s dividend payout ratio is presently 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.