Legal & General Group Plc Sells 9,441 Shares of Cactus, Inc. $WHD

Legal & General Group Plc lessened its stake in Cactus, Inc. (NYSE:WHD) by 4.9% during the fourth quarter, Holdings Channel reports. The firm owned 182,227 shares of the company’s stock after selling 9,441 shares during the period. Legal & General Group Plc’s holdings in Cactus were worth $8,324,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of WHD. Covestor Ltd lifted its holdings in Cactus by 8.6% during the fourth quarter. Covestor Ltd now owns 2,758 shares of the company’s stock worth $126,000 after acquiring an additional 219 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Cactus by 67.6% during the third quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock worth $25,000 after acquiring an additional 259 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in Cactus by 0.5% during the second quarter. CANADA LIFE ASSURANCE Co now owns 57,938 shares of the company’s stock worth $2,532,000 after acquiring an additional 269 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in Cactus by 1.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 15,734 shares of the company’s stock worth $719,000 after acquiring an additional 300 shares during the period. Finally, California State Teachers Retirement System lifted its holdings in Cactus by 0.5% during the second quarter. California State Teachers Retirement System now owns 66,538 shares of the company’s stock worth $2,909,000 after acquiring an additional 306 shares during the period. Institutional investors own 85.11% of the company’s stock.

Analysts Set New Price Targets

WHD has been the topic of a number of recent analyst reports. Citigroup lifted their price target on Cactus from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Barclays lifted their price target on Cactus from $62.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Weiss Ratings lowered Cactus from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 27th. Stifel Nicolaus lifted their price target on Cactus from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Finally, Wall Street Zen lowered Cactus from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Cactus has a consensus rating of “Moderate Buy” and an average price target of $62.60.

Insiders Place Their Bets

In other news, President Joel Bender sold 106,809 shares of Cactus stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $49.92, for a total value of $5,331,905.28. Following the completion of the transaction, the president directly owned 27,793 shares in the company, valued at approximately $1,387,426.56. The trade was a 79.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alan Semple sold 10,206 shares of Cactus stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $56.62, for a total value of $577,863.72. Following the completion of the transaction, the director owned 29,444 shares of the company’s stock, valued at approximately $1,667,119.28. This trade represents a 25.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 129,015 shares of company stock valued at $6,588,609 over the last ninety days. 12.91% of the stock is currently owned by insiders.

Cactus Stock Performance

NYSE:WHD opened at $56.59 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.61 and a quick ratio of 1.71. The business has a fifty day simple moving average of $55.29 and a two-hundred day simple moving average of $51.69. Cactus, Inc. has a 1 year low of $33.20 and a 1 year high of $64.30. The company has a market capitalization of $4.54 billion, a P/E ratio of 53.39, a P/E/G ratio of 2.32 and a beta of 1.37.

Cactus (NYSE:WHD) last released its earnings results on Thursday, May 7th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Cactus had a return on equity of 15.43% and a net margin of 6.17%.The business had revenue of $388.35 million during the quarter, compared to the consensus estimate of $380.42 million. During the same period last year, the business posted $0.73 earnings per share. The business’s revenue for the quarter was up 38.5% on a year-over-year basis. On average, analysts expect that Cactus, Inc. will post 2.86 earnings per share for the current year.

Cactus Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Monday, June 1st will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Monday, June 1st. Cactus’s dividend payout ratio (DPR) is currently 52.83%.

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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.