US Bancorp DE Reduces Stock Holdings in Cactus, Inc. $WHD

US Bancorp DE reduced its position in shares of Cactus, Inc. (NYSE:WHD) by 4.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,475 shares of the company’s stock after selling 763 shares during the period. US Bancorp DE’s holdings in Cactus were worth $677,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC boosted its holdings in Cactus by 535.8% in the 1st quarter. SG Americas Securities LLC now owns 14,413 shares of the company’s stock valued at $661,000 after purchasing an additional 12,146 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Cactus during the 1st quarter valued at approximately $374,000. Bessemer Group Inc. lifted its holdings in Cactus by 4.0% in the first quarter. Bessemer Group Inc. now owns 323,075 shares of the company’s stock valued at $14,807,000 after acquiring an additional 12,364 shares during the last quarter. Illinois Municipal Retirement Fund lifted its holdings in Cactus by 4.3% in the first quarter. Illinois Municipal Retirement Fund now owns 39,019 shares of the company’s stock valued at $1,788,000 after acquiring an additional 1,607 shares during the last quarter. Finally, KBC Group NV grew its position in Cactus by 11.9% in the first quarter. KBC Group NV now owns 3,373 shares of the company’s stock worth $155,000 after acquiring an additional 360 shares during the period. 85.11% of the stock is owned by hedge funds and other institutional investors.

Cactus Trading Up 2.7%

Shares of NYSE WHD opened at $36.59 on Monday. The company has a current ratio of 4.85, a quick ratio of 3.48 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $2.92 billion, a PE ratio of 13.81, a PEG ratio of 3.46 and a beta of 1.48. Cactus, Inc. has a twelve month low of $33.20 and a twelve month high of $70.01. The stock has a fifty day simple moving average of $39.56 and a 200-day simple moving average of $41.29.

Cactus (NYSE:WHD) last posted its earnings results on Wednesday, July 30th. The company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). The firm had revenue of $273.58 million for the quarter, compared to analyst estimates of $280.28 million. Cactus had a return on equity of 17.34% and a net margin of 16.19%.Cactus’s revenue was down 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 EPS. On average, equities analysts forecast that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Friday, August 29th were paid a $0.14 dividend. The ex-dividend date of this dividend was Friday, August 29th. This is a positive change from Cactus’s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a dividend yield of 1.5%. Cactus’s payout ratio is 21.13%.

Insider Buying and Selling at Cactus

In related news, EVP William D. Marsh sold 10,172 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $41.32, for a total transaction of $420,307.04. Following the sale, the executive vice president directly owned 11,088 shares of the company’s stock, valued at $458,156.16. This represents a 47.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 16.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on WHD shares. Barclays reissued an “overweight” rating and set a $52.00 target price (down previously from $53.00) on shares of Cactus in a research note on Monday, August 4th. Zacks Research cut Cactus from a “hold” rating to a “strong sell” rating in a report on Monday, September 8th. Wall Street Zen raised Cactus from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Stifel Nicolaus reduced their price objective on shares of Cactus from $57.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, August 1st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cactus in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Cactus has an average rating of “Hold” and an average price target of $51.67.

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.