Diversify Wealth Management LLC Increases Stake in Cactus, Inc. (NYSE:WHD)

Diversify Wealth Management LLC increased its position in shares of Cactus, Inc. (NYSE:WHD) by 44.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,317 shares of the company’s stock after buying an additional 3,813 shares during the period. Diversify Wealth Management LLC’s holdings in Cactus were worth $732,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in WHD. New York State Teachers Retirement System increased its position in shares of Cactus by 1.3% in the 3rd quarter. New York State Teachers Retirement System now owns 15,500 shares of the company’s stock valued at $925,000 after purchasing an additional 200 shares during the last quarter. Dana Investment Advisors Inc. raised its stake in Cactus by 0.6% in the second quarter. Dana Investment Advisors Inc. now owns 31,807 shares of the company’s stock valued at $1,678,000 after buying an additional 202 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Cactus by 0.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 36,560 shares of the company’s stock worth $2,182,000 after buying an additional 301 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Cactus by 10.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company’s stock worth $188,000 after acquiring an additional 307 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Cactus by 165.4% during the 4th quarter. Versant Capital Management Inc now owns 576 shares of the company’s stock worth $34,000 after acquiring an additional 359 shares in the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

Cactus Stock Up 0.3 %

Shares of NYSE:WHD opened at $63.81 on Wednesday. Cactus, Inc. has a 1-year low of $38.27 and a 1-year high of $70.01. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67. The stock has a market cap of $5.08 billion, a P/E ratio of 22.63, a P/E/G ratio of 5.47 and a beta of 1.98. The firm has a fifty day moving average price of $62.75 and a 200 day moving average price of $60.79.

Cactus (NYSE:WHD) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.04. The firm had revenue of $293.18 million for the quarter, compared to analyst estimates of $287.47 million. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The business’s revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the company posted $0.80 earnings per share. Sell-side analysts predict that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.81%. Cactus’s dividend payout ratio (DPR) is presently 18.44%.

Insider Activity at Cactus

In other news, Director Bruce M. Rothstein sold 5,000 shares of the firm’s stock in a transaction 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 owns 12,177 shares in the company, valued at approximately $794,183.94. This trade represents a 29.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Steven Bender sold 100,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $65.35, for a total transaction of $6,535,000.00. Following the transaction, the chief operating officer now owns 57,567 shares in the company, valued at approximately $3,762,003.45. This trade represents a 63.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 138,500 shares of company stock worth $8,916,325 in the last three months. Insiders own 16.84% of the company’s stock.

Wall Street Analyst Weigh In

WHD has been the subject of a number of research analyst reports. Barclays downgraded 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. Bank of America lifted their price target on shares of Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a research note on Monday, October 14th. Finally, Stifel Nicolaus decreased their price objective on shares of Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a research note on Friday, October 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Cactus currently has a consensus rating of “Hold” and an average price target of $56.40.

Cactus Company 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.