Legal & General Group Plc Reduces Stake in Cactus, Inc. (NYSE:WHD)

Legal & General Group Plc reduced its stake in shares of Cactus, Inc. (NYSE:WHD) by 5.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 190,617 shares of the company’s stock after selling 10,812 shares during the period. Legal & General Group Plc’s holdings in Cactus were worth $11,124,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of WHD. Oarsman Capital Inc. bought a new position in Cactus during the fourth quarter valued at $26,000. Smartleaf Asset Management LLC lifted its position in shares of Cactus by 74.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 522 shares of the company’s stock valued at $30,000 after buying an additional 223 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Cactus by 165.4% during the 4th quarter. Versant Capital Management Inc now owns 576 shares of the company’s stock worth $34,000 after acquiring an additional 359 shares during the period. Jones Financial Companies Lllp increased its holdings in Cactus by 66.9% in the 4th quarter. Jones Financial Companies Lllp now owns 841 shares of the company’s stock worth $49,000 after acquiring an additional 337 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in Cactus in the 4th quarter valued at about $76,000. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Barclays cut their target price on shares of Cactus from $61.00 to $54.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. Stifel Nicolaus cut their price objective on shares of Cactus from $64.00 to $61.00 and set a “buy” rating for the company in a report on Tuesday. 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $53.80.

Cactus Trading Down 0.5 %

Shares of Cactus stock opened at $36.30 on Thursday. The company’s 50-day moving average price is $47.87 and its 200-day moving average price is $57.29. The company has a current ratio of 3.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a 12-month low of $33.80 and a 12-month high of $70.01. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 5.13 and a beta of 1.74.

Cactus (NYSE:WHD) last posted its earnings results on Wednesday, February 26th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.01). The firm had revenue of $272.12 million during the quarter, compared to analysts’ expectations of $277.59 million. Cactus had a return on equity of 20.24% and a net margin of 16.57%. On average, equities analysts expect that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 3rd were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.43%. The ex-dividend date was Monday, March 3rd. Cactus’s dividend payout ratio is 18.84%.

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.