New York State Common Retirement Fund Has $2.39 Million Stock Position in Cactus, Inc. (NYSE:WHD)

New York State Common Retirement Fund lowered its stake in Cactus, Inc. (NYSE:WHD) by 88.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,624 shares of the company’s stock after selling 390,365 shares during the period. New York State Common Retirement Fund owned 0.07% of Cactus worth $2,389,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in WHD. Arizona State Retirement System lifted its holdings in shares of Cactus by 1.5% during the third quarter. Arizona State Retirement System now owns 18,375 shares of the company’s stock worth $923,000 after purchasing an additional 273 shares during the period. Los Angeles Capital Management LLC lifted its holdings in shares of Cactus by 2.8% during the third quarter. Los Angeles Capital Management LLC now owns 19,530 shares of the company’s stock worth $981,000 after purchasing an additional 533 shares during the period. Signaturefd LLC lifted its holdings in shares of Cactus by 164.5% during the third quarter. Signaturefd LLC now owns 857 shares of the company’s stock worth $43,000 after purchasing an additional 533 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Cactus by 2.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,101 shares of the company’s stock worth $1,321,000 after purchasing an additional 575 shares during the period. Finally, Dfpg Investments LLC lifted its holdings in shares of Cactus by 14.5% during the fourth quarter. Dfpg Investments LLC now owns 5,676 shares of the company’s stock worth $254,000 after purchasing an additional 718 shares during the period. Institutional investors and hedge funds own 85.11% of the company’s stock.

Wall Street Analysts Forecast Growth

WHD has been the topic of a number of recent research reports. Barclays lifted their price target on shares of Cactus from $55.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday. Benchmark reissued a “hold” rating on shares of Cactus in a research note on Monday. Finally, Bank of America lifted their target price on shares of Cactus from $40.00 to $43.00 and gave the stock an “underperform” rating in a research note on Monday, April 15th. 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $55.14.

Cactus Trading Down 0.4 %

WHD opened at $51.47 on Wednesday. Cactus, Inc. has a 1-year low of $31.36 and a 1-year high of $57.00. The company has a current ratio of 3.24, a quick ratio of 2.17 and a debt-to-equity ratio of 0.01. The company has a market cap of $4.08 billion, a P/E ratio of 20.51, a price-to-earnings-growth ratio of 9.11 and a beta of 1.95. The company has a fifty day moving average price of $49.44 and a two-hundred day moving average price of $45.56.

Cactus (NYSE:WHD) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. Cactus had a net margin of 14.46% and a return on equity of 22.46%. The firm had revenue of $274.12 million during the quarter, compared to the consensus estimate of $270.70 million. During the same period in the previous year, the firm posted $0.64 earnings per share. The business’s revenue was up 20.0% compared to the same quarter last year. Analysts predict that Cactus, Inc. will post 2.87 EPS for the current fiscal year.

Cactus Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Tuesday, May 28th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.93%. The ex-dividend date is Friday, May 24th. Cactus’s dividend payout ratio (DPR) is currently 19.12%.

Insider Buying and Selling at Cactus

In other Cactus news, EVP William D. Marsh sold 1,700 shares of Cactus stock in a transaction on Monday, March 11th. The shares were sold at an average price of $46.20, for a total value of $78,540.00. Following the completion of the sale, the executive vice president now directly owns 3,911 shares of the company’s stock, valued at $180,688.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP William D. Marsh sold 1,700 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $46.20, for a total value of $78,540.00. Following the completion of the sale, the executive vice president now directly owns 3,911 shares of the company’s stock, valued at $180,688.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Scott Bender sold 78,000 shares of Cactus stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $45.79, for a total value of $3,571,620.00. Following the transaction, the chief executive officer now directly owns 20 shares in the company, valued at approximately $915.80. The disclosure for this sale can be found here. Insiders own 16.84% of the company’s stock.

About Cactus

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.