47,285 Cactus, Inc. $WHD Shares Bought by Riverbridge Partners LLC

Riverbridge Partners LLC increased its stake in Cactus, Inc. (NYSE:WHD) by 30.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 200,252 shares of the company’s stock after acquiring an additional 47,285 shares during the period. Riverbridge Partners LLC owned about 0.25% of Cactus worth $12,460,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in WHD. Hohimer Wealth Management LLC lifted its stake in Cactus by 4.9% during the third quarter. Hohimer Wealth Management LLC now owns 4,604 shares of the company’s stock worth $286,000 after purchasing an additional 216 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Cactus by 56.8% in the 3rd quarter. Signaturefd LLC now owns 665 shares of the company’s stock worth $41,000 after purchasing an additional 241 shares in the last quarter. Arizona State Retirement System increased its position in shares of Cactus by 1.3% during the 2nd quarter. Arizona State Retirement System now owns 19,154 shares of the company’s stock valued at $981,000 after purchasing an additional 242 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its position in Cactus by 6.5% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 4,900 shares of the company’s stock worth $305,000 after buying an additional 300 shares during the last quarter. Finally, Your Advocates Ltd. LLP purchased a new stake in Cactus in the third quarter worth approximately $34,000. Institutional investors own 85.11% of the company’s stock.

Cactus Stock Down 2.5%

Shares of NYSE WHD opened at $59.16 on Wednesday. The firm’s fifty day moving average is $64.61 and its 200 day moving average is $58.55. Cactus, Inc. has a 52 week low of $39.16 and a 52 week high of $74.07. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.01. The company has a market cap of $4.74 billion, a price-to-earnings ratio of 41.08, a PEG ratio of 1.55 and a beta of 1.38.

Cactus (NYSE:WHD) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.19. The business had revenue of $430.89 million during the quarter, compared to analysts’ expectations of $437.94 million. Cactus had a net margin of 6.69% and a return on equity of 17.93%. The firm’s revenue for the quarter was up 63.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.67 EPS. On average, equities research analysts expect that Cactus, Inc. will post 3.22 earnings per share for the current year.

Cactus Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Monday, November 30th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, November 30th. Cactus’s dividend payout ratio is 41.67%.

Insider Activity

In other news, President Joel Bender sold 100,000 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $70.37, for a total transaction of $7,037,000.00. Following the completion of the sale, the president directly owned 41,519 shares in the company, valued at approximately $2,921,692.03. This represents a 70.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Scott Bender sold 100,000 shares of the firm’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $63.91, for a total value of $6,391,000.00. Following the completion of the sale, the chief executive officer directly owned 120,527 shares in the company, valued at $7,702,880.57. The trade was a 45.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 300,000 shares of company stock valued at $19,625,000. Insiders own 12.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Citigroup lifted their price target on shares of Cactus from $73.00 to $74.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cactus in a research note on Tuesday, September 8th. Wall Street Zen cut shares of Cactus from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Barclays increased their target price on shares of Cactus from $74.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, October 15th. Finally, Stifel Nicolaus increased their target price on shares of Cactus from $68.00 to $72.00 and gave the company a “buy” rating in a report on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $74.75.

Cactus Profile

Cactus, Inc. designs, manufactures, sells and rents wellhead and pressure-control equipment used in oil and natural gas drilling and production. Its products include wellhead systems, frac trees and other equipment that help control pressure and manage the flow of fluids at the wellsite. The company also provides field services, including equipment installation, maintenance and support. Through its Spoolable Technologies business, Cactus offers flexible, spoolable pipe products for energy and other industrial applications.