Geode Capital Management LLC Has $104.93 Million Stake in Cactus, Inc. (NYSE:WHD)

Geode Capital Management LLC boosted its position in Cactus, Inc. (NYSE:WHD - Free Report) by 6.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,758,286 shares of the company's stock after purchasing an additional 106,819 shares during the quarter. Geode Capital Management LLC owned about 2.21% of Cactus worth $104,934,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of WHD. Barclays PLC increased its position in Cactus by 429.4% during the third quarter. Barclays PLC now owns 123,562 shares of the company's stock worth $7,373,000 after purchasing an additional 100,223 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Cactus in the 3rd quarter valued at $596,000. Weiss Asset Management LP acquired a new position in shares of Cactus during the 3rd quarter valued at $13,647,000. State Street Corp boosted its position in Cactus by 3.0% during the 3rd quarter. State Street Corp now owns 2,755,757 shares of the company's stock worth $164,436,000 after purchasing an additional 81,149 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new stake in Cactus in the 3rd quarter valued at $434,000. 85.11% of the stock is owned by institutional investors and hedge funds.

Cactus Trading Down 2.1 %

Cactus stock traded down $1.25 during midday trading on Thursday, reaching $56.93. The stock had a trading volume of 603,063 shares, compared to its average volume of 728,102. The firm has a market cap of $4.53 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 2.98 and a beta of 1.97. The firm's fifty day simple moving average is $63.74 and its two-hundred day simple moving average is $59.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67. Cactus, Inc. has a twelve month low of $37.58 and a twelve month high of $70.01.

Cactus (NYSE:WHD - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.04. The business had revenue of $293.18 million during the quarter, compared to analyst estimates of $287.47 million. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The firm's revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 earnings per share. Equities analysts anticipate that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 2nd will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.91%. The ex-dividend date is Monday, December 2nd. Cactus's payout ratio is currently 18.44%.

Analyst Ratings Changes

A number of equities analysts have weighed in on WHD shares. Stifel Nicolaus decreased their price target on 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 lifted their target price on Cactus from $44.00 to $48.00 and gave the stock an "underperform" rating in a research report on Monday, October 14th. Finally, Barclays lowered Cactus from an "overweight" rating to an "equal weight" rating and set a $61.00 target price on the stock. in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $56.40.

Insider Activity

In related news, Director Bruce M. Rothstein sold 5,000 shares of the firm's 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 transaction, the director now directly owns 12,177 shares in the company, valued at approximately $794,183.94. This trade represents a 29.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Stephen Tadlock sold 33,500 shares of the company's stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 36,357 shares of the company's stock, valued at approximately $2,230,501.95. This trade represents a 47.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 138,500 shares of company stock worth $8,916,325 in the last three months. 17.71% of the stock is owned by insiders.

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.