64,842 Shares in Cactus, Inc. $WHD Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. bought a new stake in Cactus, Inc. (NYSE:WHD) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 64,842 shares of the company’s stock, valued at approximately $2,835,000. Edgestream Partners L.P. owned about 0.08% of Cactus at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mackenzie Financial Corp grew its holdings in shares of Cactus by 26.7% during the first quarter. Mackenzie Financial Corp now owns 11,705 shares of the company’s stock worth $536,000 after buying an additional 2,468 shares in the last quarter. Aigen Investment Management LP acquired a new stake in Cactus during the first quarter worth approximately $376,000. Nuveen LLC purchased a new stake in Cactus in the 1st quarter worth approximately $11,494,000. Public Sector Pension Investment Board grew its stake in Cactus by 27.3% in the 1st quarter. Public Sector Pension Investment Board now owns 211,363 shares of the company’s stock worth $9,687,000 after acquiring an additional 45,272 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in Cactus by 20.3% in the 1st quarter. Russell Investments Group Ltd. now owns 30,229 shares of the company’s stock valued at $1,385,000 after acquiring an additional 5,105 shares during the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP William D. Marsh sold 10,172 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $41.32, for a total value of $420,307.04. Following the completion of the sale, the executive vice president directly owned 11,088 shares in the company, valued at approximately $458,156.16. This represents a 47.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 13.75% of the company’s stock.

Cactus Stock Performance

Shares of NYSE:WHD opened at $45.94 on Friday. The business has a 50-day moving average of $40.30 and a two-hundred day moving average of $41.91. The firm has a market capitalization of $3.67 billion, a PE ratio of 18.30, a P/E/G ratio of 4.95 and a beta of 1.29. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.28 and a quick ratio of 3.74. Cactus, Inc. has a 12 month low of $33.20 and a 12 month high of $66.85.

Cactus (NYSE:WHD) last issued its earnings results on Wednesday, October 29th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $253.89 million. During the same quarter in the previous year, the business earned $0.74 EPS. The company’s revenue for the quarter was down 10.0% on a year-over-year basis. As a group, research analysts forecast that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Monday, December 1st will be issued a dividend of $0.14 per share. The ex-dividend date is Monday, December 1st. This represents a $0.56 annualized dividend and a dividend yield of 1.2%. Cactus’s payout ratio is presently 22.31%.

Wall Street Analyst Weigh In

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

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.