TimesSquare Capital Management LLC Lowers Stake in Cactus, Inc. (NYSE:WHD)

TimesSquare Capital Management LLC reduced its position in Cactus, Inc. (NYSE:WHD - Free Report) by 38.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 349,097 shares of the company's stock after selling 216,120 shares during the period. TimesSquare Capital Management LLC owned about 0.44% of Cactus worth $20,831,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of WHD. Pacer Advisors Inc. acquired a new stake in Cactus in the 2nd quarter valued at about $122,623,000. Makaira Partners LLC raised its holdings in Cactus by 399.6% in the 2nd quarter. Makaira Partners LLC now owns 499,581 shares of the company's stock valued at $26,348,000 after acquiring an additional 399,581 shares during the period. Principal Financial Group Inc. raised its holdings in Cactus by 3,604.5% in the 2nd quarter. Principal Financial Group Inc. now owns 326,518 shares of the company's stock valued at $17,221,000 after acquiring an additional 317,704 shares during the period. Barlow Wealth Partners Inc. bought a new position in Cactus in the 2nd quarter valued at about $14,553,000. Finally, Renaissance Technologies LLC raised its holdings in Cactus by 179.2% in the 2nd quarter. Renaissance Technologies LLC now owns 238,700 shares of the company's stock valued at $12,589,000 after acquiring an additional 153,200 shares during the period. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cactus news, COO Steven Bender sold 100,000 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $65.35, for a total transaction of $6,535,000.00. Following the sale, the chief operating officer now owns 57,567 shares of the company's stock, valued at approximately $3,762,003.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Stephen Tadlock sold 33,500 shares of the company's stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $61.35, for a total transaction of $2,055,225.00. Following the transaction, the chief executive officer now owns 36,357 shares in the company, valued at approximately $2,230,501.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Steven Bender sold 100,000 shares of the company's 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 completion of the sale, the chief operating officer now owns 57,567 shares in the company, valued at $3,762,003.45. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 17.72% of the company's stock.

Cactus Price Performance

WHD traded up $1.35 during trading on Monday, hitting $68.57. 732,636 shares of the stock traded hands, compared to its average volume of 739,896. Cactus, Inc. has a twelve month low of $37.58 and a twelve month high of $69.77. The company has a market cap of $5.46 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 3.19 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 business has a 50 day moving average price of $60.46 and a 200 day moving average price of $56.53.

Cactus (NYSE:WHD - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.75 by $0.04. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The business had revenue of $293.18 million during the quarter, compared to the consensus estimate of $287.47 million. During the same period in the previous year, the business earned $0.80 earnings per share. The company's revenue was up 1.8% on a year-over-year basis. Equities research analysts forecast that Cactus, Inc. will post 3.07 earnings per share for the current fiscal year.

Cactus Announces Dividend

The business also recently announced 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 of this dividend is Monday, December 2nd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.76%. Cactus's payout ratio is presently 18.44%.

Analyst Ratings Changes

WHD has been the topic of several research analyst reports. Bank of America increased their price target on shares of Cactus from $44.00 to $48.00 and gave the company an "underperform" rating in a report on Monday, October 14th. Piper Sandler lowered their price target on shares of Cactus from $55.00 to $54.00 and set a "neutral" rating on the stock in a report on Monday, July 15th. Stifel Nicolaus lowered their target price on shares of Cactus from $69.00 to $67.00 and set a "buy" rating on the stock in a report on Friday, October 11th. Finally, Barclays cut shares of Cactus from an "overweight" rating to an "equal weight" rating and set a $61.00 target price on the stock. in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Cactus presently has a consensus rating of "Hold" and a consensus 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.