Cactus, Inc. $WHD Shares Sold by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors LLC decreased its stake in Cactus, Inc. by 4.8%, selling 14,571 shares to end up with 291,151 shares worth approximately $13.34 million.
• Analysts have mixed views on Cactus, with JPMorgan lowering its price target from $52.00 to $50.00 and setting a "neutral" rating, while Barclays maintains an "overweight" rating at a price target of $52.00.
• Cactus, Inc. increased its quarterly dividend to $0.14 per share, with an annualized yield of 1.3%, reflecting a rise from the previous dividend of $0.13.

Great Lakes Advisors LLC trimmed its holdings in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 4.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 291,151 shares of the company's stock after selling 14,571 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.37% of Cactus worth $13,343,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Advisors Asset Management Inc. grew its holdings in Cactus by 113.8% in the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company's stock worth $47,000 after purchasing an additional 543 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Cactus during the first quarter valued at $57,000. Financial Harvest LLC acquired a new position in shares of Cactus in the first quarter worth about $130,000. KBC Group NV raised its position in shares of Cactus by 11.9% in the first quarter. KBC Group NV now owns 3,373 shares of the company's stock worth $155,000 after acquiring an additional 360 shares during the period. Finally, Central Pacific Bank Trust Division raised its position in shares of Cactus by 7.5% during the 1st quarter. Central Pacific Bank Trust Division now owns 3,586 shares of the company's stock worth $164,000 after purchasing an additional 250 shares during the last quarter. 85.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Stifel Nicolaus dropped their price objective on shares of Cactus from $57.00 to $53.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Wall Street Zen raised shares of Cactus from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. JPMorgan Chase & Co. dropped their price target on shares of Cactus from $52.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Zacks Research cut shares of Cactus from a "hold" rating to a "strong sell" rating in a research note on Monday, September 8th. Finally, Barclays reissued an "overweight" rating and issued a $52.00 price target (down previously from $53.00) on shares of Cactus in a research note on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Cactus currently has a consensus rating of "Hold" and an average price target of $50.75.

Insider Transactions at Cactus

In other Cactus 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 transaction of $420,307.04. Following the transaction, the executive vice president directly owned 11,088 shares of the company's stock, valued at approximately $458,156.16. This trade represents a 47.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 13.75% of the company's stock.

Cactus Stock Down 4.1%

Cactus stock traded down $1.72 during mid-day trading on Friday, reaching $40.00. 560,876 shares of the company's stock were exchanged, compared to its average volume of 585,326. The company has a market cap of $3.19 billion, a P/E ratio of 15.09, a P/E/G ratio of 3.94 and a beta of 1.53. Cactus, Inc. has a twelve month low of $33.80 and a twelve month high of $70.01. The company has a quick ratio of 3.48, a current ratio of 4.85 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average of $42.29 and a 200-day moving average of $42.90.

Cactus (NYSE:WHD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). The firm had revenue of $273.58 million during the quarter, compared to analyst estimates of $280.28 million. Cactus had a net margin of 16.19% and a return on equity of 17.34%. Cactus's revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.81 earnings per share. Sell-side analysts expect that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, August 29th will be given a $0.14 dividend. This is a positive change from Cactus's previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.4%. Cactus's payout ratio is 21.13%.

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.