Cactus, Inc. $WHD Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC trimmed its position in Cactus, Inc. (NYSE:WHD) by 23.5% during the second quarter, Holdings Channel.com reports. The firm owned 262,778 shares of the company’s stock after selling 80,563 shares during the period. TimesSquare Capital Management LLC’s holdings in Cactus were worth $11,489,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Teacher Retirement System of Texas purchased a new stake in Cactus in the first quarter valued at approximately $447,000. Xponance Inc. raised its position in Cactus by 5.7% in the 1st quarter. Xponance Inc. now owns 5,405 shares of the company’s stock valued at $248,000 after purchasing an additional 291 shares during the last quarter. Kingsview Wealth Management LLC acquired a new stake in Cactus during the 1st quarter worth $2,586,000. Diversify Advisory Services LLC grew its position in Cactus by 38.1% during the 1st quarter. Diversify Advisory Services LLC now owns 5,600 shares of the company’s stock worth $257,000 after purchasing an additional 1,545 shares during the last quarter. Finally, Financial Harvest LLC acquired a new position in Cactus in the first quarter valued at $130,000. Institutional investors and hedge funds own 85.11% of the company’s stock.

Cactus Price Performance

Shares of NYSE WHD opened at $42.51 on Thursday. The firm’s 50-day simple moving average is $39.88 and its 200 day simple moving average is $41.82. The stock has a market cap of $3.39 billion, a P/E ratio of 16.94, a P/E/G ratio of 8.93 and a beta of 1.46. Cactus, Inc. has a fifty-two week low of $33.20 and a fifty-two week high of $69.98. The company has a quick ratio of 3.74, a current ratio of 5.28 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last announced its earnings results on Wednesday, October 29th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.58 by $0.09. Cactus had a return on equity of 16.02% and a net margin of 15.86%.The business had revenue of $263.95 million during the quarter, compared to the consensus estimate of $253.89 million. During the same period in the prior year, the business posted $0.74 earnings per share. Cactus’s revenue was down 10.0% compared to the same quarter last year. Equities analysts expect that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Monday, December 1st will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.56 dividend on an annualized basis and a yield of 1.3%. Cactus’s payout ratio is currently 22.31%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WHD. Wall Street Zen raised Cactus from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Bank of America raised Cactus from an “underperform” rating to a “neutral” rating and upped their target price for the company from $39.00 to $40.00 in a research note on Wednesday, October 29th. Zacks Research raised shares of Cactus from a “strong sell” rating to a “hold” rating in a research note on Monday, November 3rd. Stifel Nicolaus upped their price objective on shares of Cactus from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Barclays lowered their price target on Cactus from $52.00 to $51.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $47.75.

Insider Buying and Selling at Cactus

In other news, EVP William D. Marsh sold 10,172 shares of the firm’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $41.32, for a total value of $420,307.04. Following the sale, the executive vice president owned 11,088 shares in the company, valued at approximately $458,156.16. This trade represents a 47.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 13.75% of the company’s stock.

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.