Victory Capital Management Inc. Grows Stock Holdings in Cactus, Inc. (NYSE:WHD)

Victory Capital Management Inc. raised its position in shares of Cactus, Inc. (NYSE:WHD) by 3.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 761,745 shares of the company’s stock after buying an additional 28,663 shares during the period. Victory Capital Management Inc.’s holdings in Cactus were worth $45,453,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of Cactus by 33.8% during the second quarter. GAMMA Investing LLC now owns 1,345 shares of the company’s stock valued at $71,000 after buying an additional 340 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Cactus during the first quarter valued at about $115,000. Covestor Ltd lifted its position in shares of Cactus by 251.8% during the first quarter. Covestor Ltd now owns 2,508 shares of the company’s stock valued at $126,000 after buying an additional 1,795 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Cactus by 10.8% during the third quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company’s stock valued at $188,000 after buying an additional 307 shares during the last quarter. Finally, NJ State Employees Deferred Compensation Plan purchased a new stake in shares of Cactus during the third quarter valued at about $209,000. 85.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on WHD shares. Barclays lowered shares of Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price target for the company. in a research report on Monday, November 4th. Bank of America increased their price objective on shares of Cactus from $44.00 to $48.00 and gave the company an “underperform” rating in a research report on Monday, October 14th. Finally, Stifel Nicolaus decreased their price objective on shares of Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $56.40.

Insider Buying and Selling

In other news, COO Steven Bender sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $65.35, for a total transaction of $6,535,000.00. Following the sale, the chief operating officer now owns 57,567 shares of the company’s stock, valued at $3,762,003.45. This trade represents a 63.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Stephen Tadlock sold 33,500 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $61.35, for a total transaction of $2,055,225.00. Following the sale, the chief executive officer now directly owns 36,357 shares in the company, valued at $2,230,501.95. The trade was a 47.96 % decrease in their position. The disclosure for this sale can be found here. 17.72% of the stock is owned by corporate insiders.

Cactus Price Performance

Shares of NYSE:WHD opened at $64.39 on Friday. Cactus, Inc. has a twelve month low of $37.58 and a twelve month high of $70.01. The company’s 50 day moving average is $61.24 and its 200 day moving average is $56.85. The company has a current ratio of 3.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.01. The company has a market cap of $5.12 billion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 3.11 and a beta of 1.95.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share 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 company had revenue of $293.18 million for the quarter, compared to the consensus estimate of $287.47 million. During the same quarter in the prior year, the company earned $0.80 EPS. Cactus’s quarterly revenue was up 1.8% on a year-over-year basis. On average, sell-side analysts forecast that Cactus, Inc. will post 3.07 EPS for the current year.

Cactus Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 2nd will be issued a $0.13 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.52 annualized dividend and a yield of 0.81%. Cactus’s dividend payout ratio (DPR) is presently 18.44%.

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.