Stephens Investment Management Group LLC Sells 146,847 Shares of Cactus, Inc. (NYSE:WHD)

Stephens Investment Management Group LLC decreased its holdings in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 19.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 613,540 shares of the company's stock after selling 146,847 shares during the period. Stephens Investment Management Group LLC owned approximately 0.77% of Cactus worth $36,610,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in WHD. Pacer Advisors Inc. acquired a new position in shares of Cactus in the second quarter worth about $122,623,000. Makaira Partners LLC boosted its holdings in shares of Cactus by 399.6% in the second quarter. Makaira Partners LLC now owns 499,581 shares of the company's stock worth $26,348,000 after buying an additional 399,581 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Cactus by 3,604.5% in the second quarter. Principal Financial Group Inc. now owns 326,518 shares of the company's stock worth $17,221,000 after buying an additional 317,704 shares during the period. Barlow Wealth Partners Inc. acquired a new position in shares of Cactus in the second quarter worth about $14,553,000. Finally, Renaissance Technologies LLC lifted its position in shares of Cactus by 179.2% in the second quarter. Renaissance Technologies LLC now owns 238,700 shares of the company's stock worth $12,589,000 after purchasing an additional 153,200 shares in the last quarter. Institutional investors own 85.11% of the company's stock.

Cactus Stock Performance

WHD stock traded up $1.29 during midday trading on Friday, hitting $60.58. 866,147 shares of the company traded hands, compared to its average volume of 736,756. The business has a 50 day simple moving average of $59.75 and a 200-day simple moving average of $55.76. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 2.74 and a beta of 1.95. The company has a quick ratio of 2.59, a current ratio of 3.75 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a twelve month low of $37.58 and a twelve month high of $64.96.

Cactus (NYSE:WHD - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.74. Cactus had a net margin of 16.57% and a return on equity of 20.72%. The business had revenue of $293.18 million for the quarter, compared to the consensus estimate of $287.47 million. During the same quarter last year, the company posted $0.80 earnings per share. Cactus's quarterly revenue was up 1.8% on a year-over-year basis. As a group, equities research analysts predict that Cactus, Inc. will post 3.04 earnings per share for the current year.

Cactus Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.13 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 0.86%. Cactus's dividend payout ratio is currently 18.44%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WHD. Barclays increased their price target on shares of Cactus from $56.00 to $61.00 and gave the stock an "overweight" rating in a research report on Monday, August 5th. Piper Sandler reduced their price target on shares of Cactus from $55.00 to $54.00 and set a "neutral" rating for the company in a research report on Monday, July 15th. Stifel Nicolaus reduced their price target on shares of Cactus from $69.00 to $67.00 and set a "buy" rating for the company in a research report on Friday, October 11th. Bank of America raised their price objective on shares of Cactus from $44.00 to $48.00 and gave the company an "underperform" rating in a research report on Monday, October 14th. Finally, Citigroup increased their price target on Cactus from $48.00 to $52.00 and gave the company a "neutral" rating in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $56.40.

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.