Cactus, Inc. (NYSE:WHD) Shares Sold by Vestcor Inc

Vestcor Inc lowered its holdings in Cactus, Inc. (NYSE:WHD - Free Report) by 92.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,494 shares of the company's stock after selling 17,948 shares during the period. Vestcor Inc's holdings in Cactus were worth $89,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. State Street Corp raised its stake in shares of Cactus by 3.0% in the 3rd quarter. State Street Corp now owns 2,755,757 shares of the company's stock valued at $164,436,000 after purchasing an additional 81,149 shares in the last quarter. Pacer Advisors Inc. bought a new stake in Cactus in the second quarter valued at about $122,623,000. Dimensional Fund Advisors LP raised its stake in Cactus by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,153,087 shares of the company's stock valued at $60,811,000 after buying an additional 38,983 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Cactus by 3.9% during the 3rd quarter. Victory Capital Management Inc. now owns 761,745 shares of the company's stock worth $45,453,000 after buying an additional 28,663 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Cactus by 8.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 687,816 shares of the company's stock worth $41,042,000 after buying an additional 53,318 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Stifel Nicolaus dropped their price target on Cactus from $69.00 to $67.00 and set a "buy" rating on the stock in a research report on Friday, October 11th. Bank of America increased their target price on shares of Cactus from $44.00 to $48.00 and gave the stock an "underperform" rating in a report on Monday, October 14th. Finally, Barclays lowered shares of Cactus from an "overweight" rating to an "equal weight" rating and set a $61.00 price target for the company. in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Cactus presently has a consensus rating of "Hold" and an average price target of $56.40.

Cactus Stock Performance

NYSE WHD traded down $0.12 during trading hours on Friday, hitting $63.17. The company had a trading volume of 397,132 shares, compared to its average volume of 564,939. The company has a quick ratio of 2.67, a current ratio of 3.82 and a debt-to-equity ratio of 0.01. The firm has a market cap of $5.03 billion, a P/E ratio of 22.40, a price-to-earnings-growth ratio of 2.98 and a beta of 1.97. Cactus, Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $70.01. The business has a fifty day simple moving average of $63.87 and a 200-day simple moving average of $59.04.

Cactus (NYSE:WHD - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.79 earnings per share 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 net margin of 16.57% and a return on equity of 20.24%. The company's revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.80 EPS. Equities analysts predict that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.52 annualized dividend and a dividend yield of 0.82%. Cactus's dividend payout ratio is presently 18.44%.

Insider Buying and Selling

In other news, Director Bruce M. Rothstein sold 5,000 shares of the company's stock in a transaction that occurred 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 completion of the sale, the director now directly owns 12,177 shares of the company's stock, valued at approximately $794,183.94. This 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. Also, CEO Stephen Tadlock sold 33,500 shares of the firm's stock in a transaction that occurred on 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 $2,230,501.95. This represents a 47.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 138,500 shares of company stock valued at $8,916,325 in the last three months. 17.72% of the stock is currently owned by corporate 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.