Victory Capital Management Inc. Purchases 22,028 Shares of Cactus, Inc. (NYSE:WHD)

Victory Capital Management Inc. increased its position in Cactus, Inc. (NYSE:WHD) by 4.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 568,500 shares of the company’s stock after purchasing an additional 22,028 shares during the period. Victory Capital Management Inc.’s holdings in Cactus were worth $25,810,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Cactus by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 6,370,309 shares of the company’s stock worth $319,853,000 after acquiring an additional 23,018 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Cactus by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,378,095 shares of the company’s stock valued at $119,404,000 after acquiring an additional 108,905 shares during the last quarter. Boston Trust Walden Corp grew its holdings in shares of Cactus by 1.4% in the fourth quarter. Boston Trust Walden Corp now owns 1,941,115 shares of the company’s stock valued at $88,127,000 after purchasing an additional 26,185 shares in the last quarter. FMR LLC increased its position in Cactus by 181.5% in the third quarter. FMR LLC now owns 1,898,398 shares of the company’s stock worth $95,319,000 after purchasing an additional 1,224,079 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Cactus by 0.4% during the third quarter. Northern Trust Corp now owns 696,317 shares of the company’s stock valued at $34,962,000 after purchasing an additional 2,553 shares in the last quarter. 85.11% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Cactus Stock Performance

Shares of NYSE:WHD opened at $50.56 on Thursday. The company has a current ratio of 3.24, a quick ratio of 2.17 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $4.01 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 9.11 and a beta of 1.95. Cactus, Inc. has a 12 month low of $31.36 and a 12 month high of $57.00. The firm’s 50-day moving average is $49.54 and its 200 day moving average is $45.59.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. Cactus had a return on equity of 22.46% and a net margin of 14.46%. The firm had revenue of $274.12 million for the quarter, compared to the consensus estimate of $270.70 million. During the same period in the prior year, the business posted $0.64 earnings per share. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. Research analysts predict that Cactus, Inc. will post 2.87 EPS for the current year.

Cactus Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Tuesday, May 28th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Friday, May 24th. Cactus’s payout ratio is presently 19.12%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on WHD shares. Bank of America lifted their price objective on shares of Cactus from $40.00 to $43.00 and gave the stock an “underperform” rating in a research note on Monday, April 15th. Benchmark reiterated a “hold” rating on shares of Cactus in a research report on Monday. Finally, Barclays upped their price objective on Cactus from $55.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $55.14.

About Cactus

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.