Fisher Asset Management LLC Boosts Stock Holdings in Cactus, Inc. (NYSE:WHD)

Fisher Asset Management LLC grew its holdings in Cactus, Inc. (NYSE:WHD - Free Report) by 10.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 330,444 shares of the company's stock after purchasing an additional 30,014 shares during the quarter. Fisher Asset Management LLC owned about 0.42% of Cactus worth $19,718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in WHD. Pacer Advisors Inc. acquired a new stake in shares of Cactus in the 2nd quarter valued at about $122,623,000. Boston Trust Walden Corp increased its holdings in shares of Cactus by 1.3% during 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 raised its position in shares of Cactus by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,153,087 shares of the company's stock worth $60,811,000 after purchasing an additional 38,983 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Cactus by 3.9% in the third quarter. Victory Capital Management Inc. now owns 761,745 shares of the company's stock valued at $45,453,000 after buying an additional 28,663 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position 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 acquiring an additional 53,318 shares in the last quarter. 85.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WHD has been the subject of several analyst reports. Stifel Nicolaus lowered their target price 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. Bank of America boosted 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 for the company. in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $56.40.

Insider Activity at Cactus

In other news, Director Bruce M. Rothstein sold 5,000 shares of the stock in a transaction 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 sale, the director now owns 12,177 shares of the company's stock, valued at approximately $794,183.94. This represents a 29.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Steven Bender sold 100,000 shares of Cactus 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 transaction, the chief operating officer now directly owns 57,567 shares of the company's stock, valued at approximately $3,762,003.45. This represents a 63.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 138,500 shares of company stock valued at $8,916,325 over the last 90 days. 17.72% of the stock is owned by corporate insiders.

Cactus Price Performance

Shares of WHD stock traded down $0.24 on Thursday, hitting $67.70. 327,059 shares of the stock traded hands, compared to its average volume of 742,497. The firm has a market cap of $5.39 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 3.21 and a beta of 1.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67. The firm has a 50 day simple moving average of $62.88 and a two-hundred day simple moving average of $57.83. Cactus, Inc. has a 52 week low of $37.58 and a 52 week high of $70.01.

Cactus (NYSE:WHD - Get Free Report) last issued 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. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The firm had revenue of $293.18 million for the quarter, compared to analysts' expectations of $287.47 million. During the same period in the previous year, the firm posted $0.80 earnings per share. The business's revenue was up 1.8% compared to the same quarter last year. As a group, equities research analysts predict that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 2nd will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.77%. The ex-dividend date is Monday, December 2nd. Cactus's dividend payout ratio is presently 18.44%.

About Cactus

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.