Citigroup Inc. Has $5.34 Million Holdings in Cactus, Inc. (NYSE:WHD)

Citigroup Inc. boosted its position in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 81.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 89,464 shares of the company's stock after purchasing an additional 40,099 shares during the quarter. Citigroup Inc. owned about 0.11% of Cactus worth $5,338,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its stake in shares of Cactus by 8.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 687,816 shares of the company's stock worth $41,042,000 after buying an additional 53,318 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Cactus during the 3rd quarter worth about $987,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Cactus in the 3rd quarter valued at about $1,485,000. Pathstone Holdings LLC boosted its stake in Cactus by 5.4% during the 3rd quarter. Pathstone Holdings LLC now owns 46,762 shares of the company's stock worth $2,790,000 after acquiring an additional 2,389 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in Cactus during the third quarter valued at approximately $34,000. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WHD. Bank of America boosted their price target on shares of Cactus from $44.00 to $48.00 and gave the company an "underperform" rating in a report on Monday, October 14th. Barclays lowered Cactus from an "overweight" rating to an "equal weight" rating and set a $61.00 price objective for the company. in a research report on Monday, November 4th. Finally, Stifel Nicolaus cut their price target 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $56.40.

Insider Activity at Cactus

In related news, COO Steven Bender sold 100,000 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $65.35, for a total value of $6,535,000.00. Following the completion of the sale, the chief operating officer now directly owns 57,567 shares in the company, valued at approximately $3,762,003.45. This trade represents a 63.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bruce M. Rothstein sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $65.22, for a total value of $326,100.00. Following the completion of the sale, the director now owns 12,177 shares in the company, valued at $794,183.94. This represents a 29.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 138,500 shares of company stock valued at $8,916,325. 16.84% of the stock is owned by corporate insiders.

Cactus Stock Down 2.5 %

WHD traded down $1.70 during trading hours on Monday, hitting $66.96. 831,000 shares of the company's stock were exchanged, compared to its average volume of 732,790. The stock has a market cap of $5.33 billion, a price-to-earnings ratio of 24.35, a PEG ratio of 3.24 and a beta of 1.97. Cactus, Inc. has a 1-year low of $37.58 and a 1-year high of $70.01. The stock's 50-day moving average is $63.09 and its two-hundred day moving average is $58.11. The company has a quick ratio of 2.67, a current ratio of 3.82 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $287.47 million. During the same quarter in the previous year, the business earned $0.80 earnings per share. Cactus's quarterly revenue was up 1.8% on a year-over-year basis. Sell-side analysts predict that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 2nd will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Monday, December 2nd. Cactus's 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.