Principal Financial Group Inc. Acquires 15,760 Shares of Cactus, Inc. (NYSE:WHD)

Principal Financial Group Inc. lifted its holdings in shares of Cactus, Inc. (NYSE:WHD) by 4.8% during the third quarter, HoldingsChannel reports. The firm owned 342,278 shares of the company’s stock after purchasing an additional 15,760 shares during the quarter. Principal Financial Group Inc.’s holdings in Cactus were worth $20,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in WHD. State Street Corp grew its stake in shares of Cactus by 3.0% during the 3rd quarter. State Street Corp now owns 2,755,757 shares of the company’s stock worth $164,436,000 after acquiring an additional 81,149 shares during the period. Pacer Advisors Inc. purchased a new stake in Cactus during the second quarter valued at about $122,623,000. Geode Capital Management LLC boosted its position in Cactus by 6.5% during the third quarter. Geode Capital Management LLC now owns 1,758,286 shares of the company’s stock worth $104,934,000 after purchasing an additional 106,819 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Cactus by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,153,087 shares of the company’s stock worth $60,811,000 after purchasing an additional 38,983 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Cactus by 3.9% in the third quarter. Victory Capital Management Inc. now owns 761,745 shares of the company’s stock valued at $45,453,000 after purchasing an additional 28,663 shares during the period. 85.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other 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 value of $6,535,000.00. Following the completion of the sale, the chief operating officer now directly owns 57,567 shares in the company, valued at approximately $3,762,003.45. The trade was a 63.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen Tadlock sold 33,500 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $61.35, for a total transaction of $2,055,225.00. Following the transaction, the chief executive officer now directly owns 36,357 shares in the company, valued at approximately $2,230,501.95. This represents a 47.96 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 138,500 shares of company stock worth $8,916,325. Corporate insiders own 16.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Stifel Nicolaus reduced their price objective on shares of Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Bank of America lifted their price target on Cactus from $44.00 to $48.00 and gave the company an “underperform” rating in a research report on Monday, October 14th. Finally, Barclays cut 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Cactus currently has a consensus rating of “Hold” and an average target price of $56.40.

Cactus Price Performance

NYSE:WHD opened at $57.74 on Friday. Cactus, Inc. has a 52-week low of $37.58 and a 52-week high of $70.01. The stock has a fifty day moving average of $63.19 and a 200 day moving average of $59.59. 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 firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of 20.48, a P/E/G ratio of 2.98 and a beta of 1.97.

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

Cactus Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Monday, December 2nd. Cactus’s dividend payout ratio is currently 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.