Cactus, Inc. $WHD Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its position in Cactus, Inc. (NYSE:WHD) by 12.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 63,448 shares of the company’s stock after selling 9,356 shares during the period. Envestnet Asset Management Inc. owned 0.08% of Cactus worth $2,774,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Advisors Asset Management Inc. raised its position in shares of Cactus by 113.8% in the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock valued at $47,000 after buying an additional 543 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Cactus during the 1st quarter valued at about $57,000. CWM LLC raised its holdings in Cactus by 131.7% in the 2nd quarter. CWM LLC now owns 2,966 shares of the company’s stock valued at $130,000 after acquiring an additional 1,686 shares during the last quarter. Central Pacific Bank Trust Division lifted its stake in Cactus by 21.4% in the 2nd quarter. Central Pacific Bank Trust Division now owns 4,352 shares of the company’s stock worth $190,000 after purchasing an additional 766 shares in the last quarter. Finally, United Services Automobile Association acquired a new position in shares of Cactus during the 1st quarter worth approximately $203,000. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Insider Buying and Selling

In other Cactus news, EVP William D. Marsh sold 10,172 shares of the company’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $41.32, for a total value of $420,307.04. Following the completion of the transaction, the executive vice president owned 11,088 shares in the company, valued at $458,156.16. This represents a 47.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 16.84% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wall Street Zen raised Cactus from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Stifel Nicolaus raised their target price on Cactus from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Weiss Ratings reissued a “hold (c-)” rating on shares of Cactus in a research report on Thursday, October 30th. Zacks Research raised shares of Cactus from a “strong sell” rating to a “hold” rating in a report on Monday, November 3rd. Finally, Barclays cut their price objective on shares of Cactus from $52.00 to $51.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $47.75.

Cactus Stock Performance

NYSE WHD opened at $41.62 on Monday. The stock has a fifty day simple moving average of $39.82 and a 200-day simple moving average of $41.88. The company has a current ratio of 5.28, a quick ratio of 3.74 and a debt-to-equity ratio of 0.01. The stock has a market cap of $3.32 billion, a PE ratio of 16.58, a P/E/G ratio of 8.47 and a beta of 1.46. Cactus, Inc. has a twelve month low of $33.20 and a twelve month high of $69.98.

Cactus (NYSE:WHD) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.58 by $0.09. Cactus had a return on equity of 16.02% and a net margin of 15.86%.The business had revenue of $263.95 million during the quarter, compared to analyst estimates of $253.89 million. During the same period last year, the business posted $0.74 earnings per share. The company’s quarterly revenue was down 10.0% on a year-over-year basis. Equities analysts anticipate that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Monday, December 1st will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Monday, December 1st. Cactus’s dividend payout ratio is 22.31%.

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.