Jennison Associates LLC Sells 73,046 Shares of Cactus, Inc. (NYSE:WHD)

Jennison Associates LLC decreased its position in Cactus, Inc. (NYSE:WHD - Free Report) by 11.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 569,749 shares of the company's stock after selling 73,046 shares during the quarter. Jennison Associates LLC owned about 0.72% of Cactus worth $33,251,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in WHD. Weiss Asset Management LP acquired a new position in shares of Cactus in the third quarter valued at approximately $13,647,000. Bridgewater Associates LP acquired a new position in shares of Cactus in the third quarter valued at approximately $9,501,000. Assenagon Asset Management S.A. grew its position in shares of Cactus by 394.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 160,005 shares of the company's stock valued at $9,338,000 after purchasing an additional 127,614 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Cactus by 6.5% in the third quarter. Geode Capital Management LLC now owns 1,758,286 shares of the company's stock valued at $104,934,000 after purchasing an additional 106,819 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Cactus by 429.4% in the third quarter. Barclays PLC now owns 123,562 shares of the company's stock valued at $7,373,000 after purchasing an additional 100,223 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company's stock.

Cactus Price Performance

Shares of WHD traded down $0.06 during trading hours on Friday, reaching $59.72. The stock had a trading volume of 350,525 shares, compared to its average volume of 448,905. Cactus, Inc. has a 12 month low of $41.80 and a 12 month high of $70.01. The stock has a market capitalization of $4.75 billion, a PE ratio of 21.18, a PEG ratio of 5.14 and a beta of 1.97. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82. The company's 50-day moving average is $61.21 and its two-hundred day moving average is $61.18.

Cactus Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 3rd will be issued a $0.13 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.52 dividend on an annualized basis and a yield of 0.87%. Cactus's payout ratio is 18.44%.

Insider Activity at Cactus

In other Cactus news, Director Bruce M. Rothstein sold 5,000 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $65.22, for a total transaction of $326,100.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. 17.72% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on WHD shares. Barclays downgraded 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. Stifel Nicolaus cut their price target on Cactus from $69.00 to $67.00 and set a "buy" rating for the company in a research note on Friday, October 11th. Finally, Bank of America boosted their price target on Cactus from $44.00 to $48.00 and gave the company an "underperform" rating in a research note on Monday, October 14th. One equities research 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. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $56.40.

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.