Principal Financial Group Inc. Boosts Stock Holdings in Cactus, Inc. (NYSE:WHD)

Principal Financial Group Inc. raised its position in Cactus, Inc. (NYSE:WHD - Free Report) by 4.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 342,278 shares of the company's stock after acquiring an additional 15,760 shares during the quarter. Principal Financial Group Inc. owned approximately 0.43% of Cactus worth $20,424,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of WHD. Quest Partners LLC acquired a new position in Cactus during the 3rd quarter worth $34,000. GAMMA Investing LLC grew its position in shares of Cactus by 81.5% during the third quarter. GAMMA Investing LLC now owns 2,441 shares of the company's stock worth $146,000 after buying an additional 1,096 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Cactus during the third quarter worth about $177,000. Nisa Investment Advisors LLC increased its stake in shares of Cactus by 10.8% during the third quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company's stock worth $188,000 after buying an additional 307 shares during the period. Finally, NJ State Employees Deferred Compensation Plan acquired a new stake in Cactus in the third quarter valued at approximately $209,000. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Cactus Stock Down 0.8 %

NYSE:WHD traded down $0.47 during midday trading on Friday, hitting $57.27. 257,140 shares of the company were exchanged, compared to its average volume of 726,520. Cactus, Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $70.01. The company has a market capitalization of $4.56 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 2.98 and a beta of 1.97. The company has a current ratio of 3.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.01. The company has a fifty day simple moving average of $63.12 and a 200 day simple moving average of $59.58.

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

Cactus Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have commented on WHD. Stifel Nicolaus lowered their price target 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. Barclays downgraded 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 note on Monday, November 4th. Finally, Bank of America increased their target price on Cactus from $44.00 to $48.00 and gave the company an "underperform" rating in a report 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 given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $56.40.

Insider Activity

In related news, COO Steven Bender sold 100,000 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $65.35, for a total value of $6,535,000.00. Following the transaction, the chief operating officer now owns 57,567 shares in the company, valued at $3,762,003.45. The trade was a 63.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Bruce M. Rothstein sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $65.22, for a total value of $326,100.00. Following the sale, the director now directly owns 12,177 shares of the company's stock, valued at $794,183.94. The trade was a 29.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 138,500 shares of company stock valued at $8,916,325. 17.71% of the stock is currently owned by company insiders.

Cactus 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.