State of New Jersey Common Pension Fund D Cuts Position in Cactus, Inc. (NYSE:WHD)

State of New Jersey Common Pension Fund D lowered its stake in shares of Cactus, Inc. (NYSE:WHD) by 1.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 32,186 shares of the company’s stock after selling 385 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Cactus were worth $1,878,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Creative Planning lifted its position in shares of Cactus by 27.5% during the 3rd quarter. Creative Planning now owns 11,292 shares of the company’s stock valued at $674,000 after acquiring an additional 2,433 shares during the period. Nisa Investment Advisors LLC raised its holdings in 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 during the last quarter. Andina Capital Management LLC boosted its position in Cactus by 18.8% during the third quarter. Andina Capital Management LLC now owns 12,348 shares of the company’s stock worth $737,000 after purchasing an additional 1,950 shares in the last quarter. New York State Teachers Retirement System grew its holdings in Cactus by 1.3% in the third quarter. New York State Teachers Retirement System now owns 15,500 shares of the company’s stock valued at $925,000 after purchasing an additional 200 shares during the last quarter. Finally, First Trust Direct Indexing L.P. acquired a new stake in Cactus in the third quarter valued at $226,000. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Analysts Set New Price Targets

Separately, Barclays downgraded Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price target for the company. in a research note on Monday, November 4th. One 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 data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $56.40.

Cactus Trading Up 0.2 %

Shares of Cactus stock opened at $58.48 on Tuesday. The business has a 50 day moving average price of $60.11 and a 200 day moving average price of $61.19. The company has a market capitalization of $4.65 billion, a P/E ratio of 20.74, a P/E/G ratio of 5.13 and a beta of 1.97. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67. Cactus, Inc. has a 1 year low of $44.57 and a 1 year high of $70.01.

Cactus Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 3rd will be given a $0.13 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.52 annualized dividend and a dividend yield of 0.89%. Cactus’s dividend payout ratio is currently 18.44%.

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.