Sumitomo Mitsui Trust Holdings Inc. Sells 891 Shares of Cactus, Inc. (NYSE:WHD)

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in Cactus, Inc. (NYSE:WHD) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,990 shares of the company’s stock after selling 891 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Cactus were worth $1,589,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in WHD. Cerity Partners LLC raised its stake in Cactus by 17.5% in the 4th quarter. Cerity Partners LLC now owns 11,142 shares of the company’s stock valued at $506,000 after acquiring an additional 1,660 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Cactus by 2.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,101 shares of the company’s stock valued at $1,321,000 after purchasing an additional 575 shares during the period. Boston Trust Walden Corp boosted its holdings in shares of Cactus by 1.4% during the 4th quarter. Boston Trust Walden Corp now owns 1,941,115 shares of the company’s stock worth $88,127,000 after buying an additional 26,185 shares during the period. Assenagon Asset Management S.A. grew its stake in Cactus by 198.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 208,010 shares of the company’s stock valued at $9,444,000 after buying an additional 138,294 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH raised its holdings in Cactus by 43.3% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 412,220 shares of the company’s stock valued at $18,715,000 after acquiring an additional 124,620 shares during the period. 85.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on WHD. Benchmark downgraded Cactus from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Bank of America increased their price objective on Cactus from $40.00 to $43.00 and gave the stock an “underperform” rating in a research report on Monday, April 15th. Finally, Stifel Nicolaus reduced their target price on shares of Cactus from $68.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $55.29.

Insider Activity at Cactus

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

Cactus Stock Performance

WHD opened at $52.32 on Thursday. The firm has a market cap of $4.15 billion, a P/E ratio of 20.52, a price-to-earnings-growth ratio of 9.21 and a beta of 1.96. The business’s fifty day moving average is $48.30 and its 200-day moving average is $45.50. Cactus, Inc. has a 52-week low of $31.36 and a 52-week high of $57.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.00 and a current ratio of 3.17.

Cactus (NYSE:WHD) last announced its quarterly earnings data on Thursday, February 29th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. The firm had revenue of $274.87 million for the quarter, compared to the consensus estimate of $268.56 million. Cactus had a net margin of 15.42% and a return on equity of 22.69%. The business’s revenue for the quarter was up 46.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 earnings per share. Sell-side analysts expect that Cactus, Inc. will post 2.87 EPS for the current fiscal year.

Cactus 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.