Free Trial

Principal Financial Group Inc. Increases Stake in Cactus, Inc. (NYSE:WHD)

Cactus logo with Oils/Energy background

Principal Financial Group Inc. boosted its stake in Cactus, Inc. (NYSE:WHD - Free Report) by 4.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 342,278 shares of the company's stock after acquiring an additional 15,760 shares during the period. Principal Financial Group Inc. owned 0.43% of Cactus worth $20,424,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its holdings in shares of Cactus by 7.2% in the 1st quarter. Bessemer Group Inc. now owns 248,369 shares of the company's stock worth $12,441,000 after purchasing an additional 16,662 shares during the period. Silvercrest Asset Management Group LLC lifted its position in shares of Cactus by 4.5% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 203,153 shares of the company's stock valued at $10,176,000 after buying an additional 8,833 shares during the last quarter. Sei Investments Co. lifted its position in shares of Cactus by 13.2% during the 1st quarter. Sei Investments Co. now owns 345,228 shares of the company's stock valued at $17,291,000 after buying an additional 40,228 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Cactus by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 6,571,806 shares of the company's stock worth $329,182,000 after acquiring an additional 53,142 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in Cactus by 330.4% in the 1st quarter. Russell Investments Group Ltd. now owns 43,266 shares of the company's stock worth $2,167,000 after acquiring an additional 33,214 shares during the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WHD has been the topic of several recent research reports. Bank of America increased their target price on shares of Cactus from $44.00 to $48.00 and gave the stock an "underperform" rating in a research report on Monday, October 14th. Stifel Nicolaus cut their price objective on shares of Cactus from $69.00 to $67.00 and set a "buy" rating for the company in a report on Friday, October 11th. Finally, Barclays lowered shares of Cactus from an "overweight" rating to an "equal weight" rating and set a $61.00 price objective for the company. in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Cactus has an average rating of "Hold" and an average price target of $56.40.

Check Out Our Latest Analysis on WHD

Cactus Price Performance

Shares of WHD stock traded down $1.23 during trading hours on Thursday, reaching $65.43. The stock had a trading volume of 223,522 shares, compared to its average volume of 736,575. The stock's fifty day simple moving average is $60.87 and its 200 day simple moving average is $56.71. The firm has a market capitalization of $5.21 billion, a PE ratio of 23.48, a PEG ratio of 3.17 and a beta of 1.95. Cactus, Inc. has a 12 month low of $37.58 and a 12 month high of $70.01. The company has a current ratio of 3.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.04. The business had revenue of $293.18 million for the quarter, compared to analysts' expectations of $287.47 million. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The business's revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.80 EPS. On average, equities research analysts predict that Cactus, Inc. will post 3.07 EPS for the current year.

Cactus Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 2nd will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.79%. The ex-dividend date is Monday, December 2nd. Cactus's payout ratio is 18.44%.

Insiders Place Their Bets

In other news, CEO Stephen Tadlock sold 33,500 shares of Cactus stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $61.35, for a total transaction of $2,055,225.00. Following the completion of the sale, the chief executive officer now owns 36,357 shares in the company, valued at approximately $2,230,501.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Cactus news, COO Steven Bender sold 100,000 shares of the firm's stock in a transaction dated 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Stephen Tadlock sold 33,500 shares of Cactus stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $61.35, for a total value of $2,055,225.00. Following the sale, the chief executive officer now directly owns 36,357 shares of the company's stock, valued at approximately $2,230,501.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 17.72% of the company's stock.

Cactus Company Profile

(Free Report)

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.

Recommended Stories

Institutional Ownership by Quarter for Cactus (NYSE:WHD)

Should you invest $1,000 in Cactus right now?

Before you consider Cactus, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cactus wasn't on the list.

While Cactus currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

(Almost)  Everything You Need To Know About The EV Market Cover

Click the link below and we'll send you MarketBeat's guide to investing in electric vehicle technologies (EV) and which EV stocks show the most promise.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Why Whitestone REIT is Outperforming in 2024: 35% Growth & Monthly Dividends
Why SoundHound Stock Dip Could Mean Big Gains for 2025 Investors
Nintendo Stock: Buy Before the 2025 Switch Platform Hits!

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines