Sumitomo Mitsui Trust Holdings Inc. Decreases Stake in Cactus, Inc. (NYSE:WHD)

Sumitomo Mitsui Trust Holdings Inc. lessened its holdings in Cactus, Inc. (NYSE:WHD) by 2.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 34,990 shares of the company’s stock after selling 891 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Cactus were worth $1,589,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Assenagon Asset Management S.A. boosted its position in Cactus by 198.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 208,010 shares of the company’s stock worth $9,444,000 after purchasing an additional 138,294 shares during the last quarter. Boston Trust Walden Corp grew its position in Cactus by 1.4% during the fourth quarter. Boston Trust Walden Corp now owns 1,941,115 shares of the company’s stock valued at $88,127,000 after buying an additional 26,185 shares during the period. FMR LLC increased its holdings in Cactus by 181.5% during the third quarter. FMR LLC now owns 1,898,398 shares of the company’s stock worth $95,319,000 after buying an additional 1,224,079 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Cactus by 3.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 572,530 shares of the company’s stock valued at $28,747,000 after acquiring an additional 18,673 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Cactus by 13.5% in the third quarter. Tower Research Capital LLC TRC now owns 8,979 shares of the company’s stock valued at $451,000 after acquiring an additional 1,071 shares during the last quarter. 85.11% of the stock is owned by institutional investors.

Cactus Trading Down 0.5 %

NYSE:WHD opened at $52.32 on Thursday. Cactus, Inc. has a 1 year low of $31.36 and a 1 year high of $57.00. The stock’s fifty day moving average price is $48.30 and its two-hundred day moving average price is $45.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.17 and a quick ratio of 2.00. The company has a market cap of $4.15 billion, a P/E ratio of 20.52, a P/E/G ratio of 9.21 and a beta of 1.96.

Cactus (NYSE:WHD) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. The business had revenue of $274.87 million for the quarter, compared to analysts’ expectations of $268.56 million. Cactus had a return on equity of 22.69% and a net margin of 15.42%. The firm’s quarterly revenue was up 46.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.57 EPS. As a group, analysts expect that Cactus, Inc. will post 2.87 EPS for the current year.

Insider Activity

In related news, EVP William D. Marsh sold 1,700 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $46.20, for a total transaction of $78,540.00. Following the sale, the executive vice president now owns 3,911 shares of the company’s stock, valued at approximately $180,688.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP William D. Marsh sold 1,700 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $46.20, for a total transaction of $78,540.00. Following the completion of the transaction, the executive vice president now directly owns 3,911 shares in the company, valued at $180,688.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Scott Bender sold 78,000 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $45.79, for a total value of $3,571,620.00. Following the completion of the transaction, the chief executive officer now owns 20 shares in the company, valued at $915.80. The disclosure for this sale can be found here. 16.84% of the stock is owned by company insiders.

Analysts Set New Price Targets

WHD has been the topic of a number of research reports. Benchmark cut shares of Cactus from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Stifel Nicolaus dropped their price target on Cactus from $68.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, January 3rd. Finally, Bank of America lifted their price objective on Cactus from $40.00 to $43.00 and gave the stock an “underperform” rating in a report on Monday, April 15th. One 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’s stock. According to MarketBeat.com, Cactus presently has an average rating of “Hold” and an average target price of $55.29.

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.