TimesSquare Capital Management LLC Has $11.44 Million Stock Position in Cactus, Inc. $WHD

TimesSquare Capital Management LLC reduced its holdings in shares of Cactus, Inc. (NYSE:WHD) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 250,349 shares of the company’s stock after selling 9,369 shares during the quarter. TimesSquare Capital Management LLC owned 0.31% of Cactus worth $11,436,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in WHD. Advisors Asset Management Inc. grew its holdings in shares of Cactus by 113.8% during 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. AQR Capital Management LLC grew its holdings in shares of Cactus by 101.1% during the first quarter. AQR Capital Management LLC now owns 11,427 shares of the company’s stock valued at $524,000 after buying an additional 5,745 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Cactus by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,685 shares of the company’s stock valued at $1,819,000 after buying an additional 1,733 shares during the last quarter. United Services Automobile Association acquired a new position in shares of Cactus during the first quarter valued at about $203,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Cactus by 26.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,931 shares of the company’s stock valued at $10,400,000 after buying an additional 46,835 shares during the last quarter. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on WHD shares. Zacks Research cut shares of Cactus from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Citigroup boosted their price target on shares of Cactus from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Wall Street Zen cut shares of Cactus from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Barclays boosted their price target on shares of Cactus from $62.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Finally, Piper Sandler boosted their price target on shares of Cactus from $69.00 to $72.00 and gave the stock an “overweight” rating in a report on Monday. Four investment 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 presently has an average rating of “Moderate Buy” and a consensus target price of $57.83.

Cactus Stock Up 0.9%

Cactus stock opened at $60.87 on Wednesday. Cactus, Inc. has a fifty-two week low of $33.20 and a fifty-two week high of $61.51. The stock has a market cap of $4.88 billion, a PE ratio of 57.43, a price-to-earnings-growth ratio of 2.30 and a beta of 1.37. The firm’s 50-day simple moving average is $51.97 and its 200 day simple moving average is $50.18. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.71 and a current ratio of 2.61.

Cactus (NYSE:WHD) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. Cactus had a net margin of 6.17% and a return on equity of 15.43%. The business had revenue of $388.35 million for the quarter, compared to analysts’ expectations of $380.42 million. During the same period in the previous year, the company earned $0.73 earnings per share. The firm’s revenue for the quarter was up 38.5% compared to the same quarter last year. Research analysts predict that Cactus, Inc. will post 2.84 EPS for the current fiscal year.

Cactus Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Monday, June 1st will be given a $0.14 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.56 annualized dividend and a yield of 0.9%. Cactus’s payout ratio is currently 52.83%.

Insiders Place Their Bets

In other Cactus news, Director Alan Semple sold 10,206 shares of Cactus stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $56.62, for a total value of $577,863.72. Following the sale, the director owned 29,444 shares of the company’s stock, valued at approximately $1,667,119.28. The trade was a 25.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael Y. Mcgovern sold 12,000 shares of Cactus stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $56.57, for a total transaction of $678,840.00. Following the completion of the sale, the director directly owned 15,990 shares in the company, valued at approximately $904,554.30. This represents a 42.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 222,206 shares of company stock valued at $11,295,784. Company insiders own 12.91% of the company’s stock.

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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.