TimesSquare Capital Management LLC Lowers Position in Cactus, Inc. (NYSE:WHD)

TimesSquare Capital Management LLC reduced its stake in Cactus, Inc. (NYSE:WHD) by 6.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 783,748 shares of the company’s stock after selling 49,810 shares during the period. TimesSquare Capital Management LLC owned approximately 0.99% of Cactus worth $35,582,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Cactus by 0.4% in the third quarter. Vanguard Group Inc. now owns 6,370,309 shares of the company’s stock valued at $319,853,000 after buying an additional 23,018 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Cactus by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 2,378,095 shares of the company’s stock worth $119,404,000 after purchasing an additional 108,905 shares during the period. Boston Trust Walden Corp increased its stake in Cactus by 1.4% during the fourth quarter. Boston Trust Walden Corp now owns 1,941,115 shares of the company’s stock worth $88,127,000 after purchasing an additional 26,185 shares during the period. FMR LLC lifted its position in shares of Cactus by 181.5% during the third quarter. FMR LLC now owns 1,898,398 shares of the company’s stock worth $95,319,000 after purchasing an additional 1,224,079 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Cactus by 0.4% in the third quarter. Northern Trust Corp now owns 696,317 shares of the company’s stock valued at $34,962,000 after purchasing an additional 2,553 shares during the period. Institutional investors and hedge funds own 85.11% of the company’s stock.

Cactus Stock Down 1.8 %

Shares of WHD traded down $0.91 during midday trading on Wednesday, reaching $50.56. The stock had a trading volume of 432,108 shares, compared to its average volume of 599,897. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.24 and a quick ratio of 2.17. The company’s fifty day simple moving average is $49.54 and its two-hundred day simple moving average is $45.59. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 9.11 and a beta of 1.95. Cactus, Inc. has a 1-year low of $31.36 and a 1-year high of $57.00.

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

Cactus Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Tuesday, May 28th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Friday, May 24th. Cactus’s dividend payout ratio (DPR) is 19.12%.

Insider Buying and Selling at Cactus

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

Analyst Ratings Changes

WHD has been the topic of several recent research reports. Barclays upped their target price on shares of Cactus from $55.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday. Benchmark reiterated a “hold” rating on shares of Cactus in a research note on Monday. Finally, Bank of America lifted their target price on Cactus from $40.00 to $43.00 and gave the company an “underperform” rating in a report on Monday, April 15th. One equities 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 MarketBeat, the company presently has an average rating of “Hold” and an average price target of $55.14.

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.