Integrated Wealth Concepts LLC Makes New $434,000 Investment in Cactus, Inc. (NYSE:WHD)

Integrated Wealth Concepts LLC acquired a new position in shares of Cactus, Inc. (NYSE:WHD) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 7,266 shares of the company’s stock, valued at approximately $434,000.

A number of other large investors have also recently made changes to their positions in the company. Quest Partners LLC acquired a new position in Cactus during the 3rd quarter worth approximately $34,000. GAMMA Investing LLC lifted its position in shares of Cactus by 81.5% during the 3rd quarter. GAMMA Investing LLC now owns 2,441 shares of the company’s stock worth $146,000 after purchasing an additional 1,096 shares during the last quarter. Nisa Investment Advisors LLC grew its stake 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 worth $188,000 after purchasing an additional 307 shares in the last quarter. NJ State Employees Deferred Compensation Plan purchased a new position in Cactus in the third quarter valued at $209,000. Finally, CIBC Asset Management Inc acquired a new stake in Cactus in the third quarter valued at $212,000. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WHD has been the topic of a number of recent analyst reports. Barclays downgraded Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price objective on the stock. in a report on Monday, November 4th. Bank of America boosted their target price on Cactus from $44.00 to $48.00 and gave the company an “underperform” rating in a report on Monday, October 14th. Finally, Stifel Nicolaus decreased their price objective on Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a 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 given a buy rating to the company. Based on data from MarketBeat, Cactus currently has a consensus rating of “Hold” and an average price target of $56.40.

Insider Activity at Cactus

In other news, CEO Stephen Tadlock sold 33,500 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $61.35, for a total value of $2,055,225.00. Following the transaction, the chief executive officer now owns 36,357 shares of the company’s stock, valued at approximately $2,230,501.95. This trade represents a 47.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bruce M. Rothstein sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $65.22, for a total value of $326,100.00. Following the completion of the transaction, the director now directly owns 12,177 shares in the company, valued at $794,183.94. This trade represents a 29.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 138,500 shares of company stock worth $8,916,325. 16.84% of the stock is owned by insiders.

Cactus Trading Up 0.8 %

NYSE:WHD opened at $64.92 on Thursday. Cactus, Inc. has a 12-month low of $37.58 and a 12-month high of $70.01. 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 stock’s 50 day simple moving average is $63.89 and its 200-day simple moving average is $58.87. The firm has a market cap of $5.17 billion, a P/E ratio of 23.02, a PEG ratio of 3.02 and a beta of 1.97.

Cactus (NYSE:WHD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $287.47 million. During the same quarter in the prior year, the firm earned $0.80 EPS. Cactus’s quarterly revenue was up 1.8% on a year-over-year basis. Equities analysts anticipate that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.80%. Cactus’s payout ratio is 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.