Jane Street Group LLC Cuts Stake in Cactus, Inc. (NYSE:WHD)

Jane Street Group LLC lessened its position in shares of Cactus, Inc. (NYSE:WHD) by 71.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 34,477 shares of the company’s stock after selling 86,822 shares during the period. Jane Street Group LLC’s holdings in Cactus were worth $2,057,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of WHD. Bridgewater Associates LP acquired a new stake in shares of Cactus during the 3rd quarter worth $9,501,000. Rhumbline Advisers boosted its position in Cactus by 69.7% during the 2nd quarter. Rhumbline Advisers now owns 206,982 shares of the company’s stock valued at $10,916,000 after purchasing an additional 84,984 shares during the period. TD Asset Management Inc boosted its position in shares of Cactus by 160.8% during the second quarter. TD Asset Management Inc now owns 38,600 shares of the company’s stock worth $2,036,000 after buying an additional 23,800 shares during the period. Amalgamated Bank lifted its stake in shares of Cactus by 800.4% in the 2nd quarter. Amalgamated Bank now owns 20,071 shares of the company’s stock worth $1,059,000 after acquiring an additional 17,842 shares during the period. Finally, Citigroup Inc. lifted its holdings in Cactus by 81.2% in the 3rd quarter. Citigroup Inc. now owns 89,464 shares of the company’s stock valued at $5,338,000 after acquiring an additional 40,099 shares during the last quarter. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Steven Bender sold 100,000 shares of the business’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 completion of the transaction, the chief operating officer now owns 57,567 shares in the company, valued at approximately $3,762,003.45. The trade was a 63.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce M. Rothstein sold 5,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $65.22, for a total transaction of $326,100.00. Following the completion of the transaction, the director now directly owns 12,177 shares of the company’s stock, valued at $794,183.94. This trade represents a 29.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 138,500 shares of company stock valued at $8,916,325 in the last 90 days. 16.84% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on WHD. Barclays cut Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price objective for the company. in a research report on Monday, November 4th. Bank of America raised their price objective on Cactus from $44.00 to $48.00 and gave the company an “underperform” rating in a research note on Monday, October 14th. Finally, Stifel Nicolaus reduced their target price on Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $56.40.

Cactus Price Performance

NYSE WHD opened at $57.35 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82. The stock has a 50-day simple moving average of $63.31 and a 200 day simple moving average of $59.61. The stock has a market capitalization of $4.56 billion, a PE ratio of 20.34, a P/E/G ratio of 2.98 and a beta of 1.97. Cactus, Inc. has a twelve month low of $37.58 and a twelve month high of $70.01.

Cactus (NYSE:WHD) last posted its earnings results on Wednesday, October 30th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.75 by $0.04. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The business had revenue of $293.18 million during the quarter, compared to the consensus estimate of $287.47 million. During the same quarter last year, the company earned $0.80 EPS. Cactus’s revenue was up 1.8% on a year-over-year basis. Research analysts anticipate that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Monday, December 2nd were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Monday, December 2nd. Cactus’s payout ratio is 18.44%.

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.