New York State Teachers Retirement System Boosts Holdings in Cactus, Inc. (NYSE:WHD)

New York State Teachers Retirement System grew its position in shares of Cactus, Inc. (NYSE:WHD) by 1.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,500 shares of the company’s stock after buying an additional 200 shares during the quarter. New York State Teachers Retirement System’s holdings in Cactus were worth $925,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. purchased a new position in Cactus in the second quarter worth $122,623,000. Makaira Partners LLC increased its holdings in shares of Cactus by 399.6% in the 2nd quarter. Makaira Partners LLC now owns 499,581 shares of the company’s stock valued at $26,348,000 after purchasing an additional 399,581 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Cactus by 3,604.5% during the second quarter. Principal Financial Group Inc. now owns 326,518 shares of the company’s stock worth $17,221,000 after buying an additional 317,704 shares in the last quarter. Barlow Wealth Partners Inc. purchased a new stake in Cactus during the second quarter worth about $14,553,000. Finally, Renaissance Technologies LLC grew its position in Cactus by 179.2% during the second quarter. Renaissance Technologies LLC now owns 238,700 shares of the company’s stock worth $12,589,000 after buying an additional 153,200 shares during the period. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Insider Buying and Selling

In related news, CEO Stephen Tadlock sold 33,500 shares of Cactus stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $61.35, for a total value of $2,055,225.00. Following the transaction, the chief executive officer now owns 36,357 shares of the company’s stock, valued at approximately $2,230,501.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO Steven Bender sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $65.35, for a total value of $6,535,000.00. Following the completion of the sale, the chief operating officer now owns 57,567 shares of the company’s stock, valued at approximately $3,762,003.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Stephen Tadlock sold 33,500 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $61.35, for a total transaction of $2,055,225.00. Following the transaction, the chief executive officer now owns 36,357 shares in the company, valued at $2,230,501.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 17.71% of the company’s stock.

Cactus Trading Up 1.6 %

NYSE WHD opened at $67.22 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82. Cactus, Inc. has a one year low of $37.58 and a one year high of $69.77. The company has a 50-day simple moving average of $60.28 and a 200-day simple moving average of $56.38. The firm has a market capitalization of $5.35 billion, a PE ratio of 23.84, a price-to-earnings-growth ratio of 3.29 and a beta of 1.95.

Cactus (NYSE:WHD) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.75 by $0.04. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The business had revenue of $293.18 million during the quarter, compared to analyst estimates of $287.47 million. During the same quarter in the prior year, the firm earned $0.80 earnings per share. The company’s quarterly revenue was up 1.8% on a year-over-year basis. On average, equities analysts forecast that Cactus, Inc. will post 3.07 earnings per share for the current year.

Cactus Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Monday, December 2nd. Cactus’s dividend payout ratio is presently 18.44%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WHD. Bank of America raised their price objective 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. Barclays cut 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. Piper Sandler decreased their price objective on Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Finally, Stifel Nicolaus cut their target price 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 given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Cactus presently has a consensus rating of “Hold” and a consensus price target of $56.40.

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.