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New York State Common Retirement Fund Decreases Stake in Cactus, Inc. (NYSE:WHD)

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New York State Common Retirement Fund lowered its stake in shares of Cactus, Inc. (NYSE:WHDGet Rating) by 24.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 324,962 shares of the company’s stock after selling 106,622 shares during the quarter. New York State Common Retirement Fund owned approximately 0.43% of Cactus worth $18,438,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WHD. UMB Bank N A MO acquired a new stake in Cactus during the fourth quarter worth approximately $31,000. CWM LLC acquired a new stake in Cactus during the fourth quarter worth approximately $86,000. Private Capital Group LLC raised its holdings in Cactus by 28.4% during the first quarter. Private Capital Group LLC now owns 1,650 shares of the company’s stock worth $94,000 after purchasing an additional 365 shares in the last quarter. Chilton Capital Management LLC acquired a new stake in Cactus during the fourth quarter worth approximately $170,000. Finally, Park Avenue Securities LLC acquired a new stake in Cactus during the first quarter worth approximately $208,000.

Wall Street Analysts Forecast Growth

WHD has been the topic of a number of research analyst reports. Stifel Nicolaus raised their price objective on shares of Cactus from $55.00 to $62.00 in a report on Friday, April 8th. Morgan Stanley cut their target price on shares of Cactus from $60.00 to $50.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 13th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Cactus has an average rating of “Hold” and an average target price of $54.60.

Insider Buying and Selling at Cactus

In other Cactus news, CEO Scott Bender sold 180,000 shares of the business’s stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $48.00, for a total value of $8,640,000.00. Following the transaction, the chief executive officer now directly owns 637,480 shares of the company’s stock, valued at approximately $30,599,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Cactus news, CEO Scott Bender sold 180,000 shares of the company’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $48.00, for a total value of $8,640,000.00. Following the transaction, the chief executive officer now directly owns 637,480 shares in the company, valued at approximately $30,599,040. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Alan Semple sold 20,000 shares of the company’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $48.84, for a total transaction of $976,800.00. Following the transaction, the director now directly owns 30,035 shares of the company’s stock, valued at approximately $1,466,909.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,389,748 shares of company stock valued at $73,478,068. 21.10% of the stock is owned by company insiders.

Cactus Stock Performance

Shares of Cactus stock opened at $38.04 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.33 and a quick ratio of 4.00. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 38.82, a PEG ratio of 0.71 and a beta of 1.98. The firm’s fifty day simple moving average is $42.39 and its 200-day simple moving average is $48.41. Cactus, Inc. has a 12 month low of $31.65 and a 12 month high of $64.18.

Cactus (NYSE:WHDGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.08. The company had revenue of $170.20 million for the quarter, compared to analysts’ expectations of $161.11 million. Cactus had a net margin of 11.73% and a return on equity of 8.10%. Cactus’s revenue was up 56.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.16 EPS. As a group, equities analysts forecast that Cactus, Inc. will post 1.56 earnings per share for the current year.

Cactus Profile

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Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment in the United States, Australia, China, and the Kingdom of Saudi Arabia. The company’s principal products include Cactus SafeDrill wellhead systems, Cactus SafeLink monobore, SafeClamp, and SafeInject systems, as well as frac stacks, zipper manifolds, and production trees.

Further Reading

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