Geode Capital Management LLC Purchases 28,415 Shares of Cactus, Inc. $WHD

Geode Capital Management LLC lifted its position in Cactus, Inc. (NYSE:WHD) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,964,059 shares of the company’s stock after purchasing an additional 28,415 shares during the quarter. Geode Capital Management LLC owned about 2.46% of Cactus worth $89,729,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its position in Cactus by 67.6% in the third quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock worth $25,000 after acquiring an additional 259 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in Cactus in the third quarter worth about $33,000. Advisors Asset Management Inc. grew its position in Cactus by 113.8% in the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock worth $47,000 after acquiring an additional 543 shares in the last quarter. Huntington National Bank grew its position in Cactus by 55.4% in the third quarter. Huntington National Bank now owns 1,094 shares of the company’s stock worth $43,000 after acquiring an additional 390 shares in the last quarter. Finally, Global Retirement Partners LLC grew its position in Cactus by 39,200.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,179 shares of the company’s stock worth $54,000 after acquiring an additional 1,176 shares in the last quarter. 85.11% of the stock is owned by institutional investors.

Cactus Trading Down 0.1%

WHD opened at $56.59 on Monday. The stock has a market cap of $4.54 billion, a price-to-earnings ratio of 53.39, a P/E/G ratio of 2.23 and a beta of 1.37. The stock’s 50 day moving average price is $55.29 and its 200-day moving average price is $51.77. Cactus, Inc. has a one year low of $33.20 and a one year high of $64.30. 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 earnings results on Thursday, May 7th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. The firm had revenue of $388.35 million for the quarter, compared to analysts’ expectations of $380.42 million. Cactus had a return on equity of 15.43% and a net margin of 6.17%.The company’s quarterly revenue was up 38.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.73 earnings per share. On average, equities analysts forecast that Cactus, Inc. will post 2.86 EPS for the current year.

Cactus Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Monday, June 1st will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.0%. Cactus’s dividend payout ratio is currently 52.83%.

Wall Street Analyst Weigh In

Several research firms recently commented on WHD. Stifel Nicolaus lifted their price target on Cactus from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Weiss Ratings lowered Cactus from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 27th. Wall Street Zen lowered Cactus from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Citigroup lifted their price target on Cactus from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Finally, Barclays lifted their price target on Cactus from $62.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Cactus presently has a consensus rating of “Moderate Buy” and an average price target of $62.60.

Insider Activity

In other news, Director Alan Semple sold 10,206 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $56.62, for a total transaction of $577,863.72. Following the transaction, the director owned 29,444 shares of the company’s stock, valued at approximately $1,667,119.28. This represents a 25.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Joel Bender sold 106,809 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $49.92, for a total value of $5,331,905.28. Following the transaction, the president directly owned 27,793 shares in the company, valued at approximately $1,387,426.56. This represents a 79.35% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 129,015 shares of company stock valued at $6,588,609. 12.91% of the stock is currently owned by insiders.

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