Jennison Associates LLC Sells 167,786 Shares of Cactus, Inc. (NYSE:WHD)

Jennison Associates LLC decreased its holdings in Cactus, Inc. (NYSE:WHD) by 13.0% in the first quarter, HoldingsChannel.com reports. The fund owned 1,122,788 shares of the company’s stock after selling 167,786 shares during the quarter. Jennison Associates LLC’s holdings in Cactus were worth $56,240,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. First Trust Advisors LP boosted its stake in Cactus by 595.4% in the 4th quarter. First Trust Advisors LP now owns 683,051 shares of the company’s stock worth $31,011,000 after purchasing an additional 584,831 shares during the period. Public Employees Retirement Association of Colorado grew its stake in Cactus by 3,350.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 513,417 shares of the company’s stock valued at $23,309,000 after acquiring an additional 498,536 shares in the last quarter. Norges Bank bought a new stake in Cactus in the 4th quarter valued at $20,204,000. Wasatch Advisors LP lifted its stake in Cactus by 39.1% in the 1st quarter. Wasatch Advisors LP now owns 1,336,006 shares of the company’s stock worth $66,921,000 after purchasing an additional 375,829 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Cactus by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 6,518,664 shares of the company’s stock valued at $295,947,000 after purchasing an additional 148,355 shares during the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Insider Buying and Selling

In related news, EVP William D. Marsh sold 2,059 shares of Cactus stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $51.03, for a total transaction of $105,070.77. Following the completion of the sale, the executive vice president now owns 1,852 shares in the company, valued at approximately $94,507.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Scott Bender sold 39,957 shares of Cactus stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $51.01, for a total transaction of $2,038,206.57. Following the completion of the sale, the chief executive officer now owns 400,234 shares in the company, valued at approximately $20,415,936.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP William D. Marsh sold 2,059 shares of Cactus stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $51.03, for a total transaction of $105,070.77. Following the sale, the executive vice president now owns 1,852 shares of the company’s stock, valued at approximately $94,507.56. The disclosure for this sale can be found here. Insiders have sold 602,059 shares of company stock valued at $30,948,949 in the last 90 days. Company insiders own 16.84% of the company’s stock.

Cactus Trading Down 0.4 %

NYSE WHD traded down $0.23 during trading on Tuesday, hitting $51.25. The stock had a trading volume of 138,341 shares, compared to its average volume of 770,808. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.17 and a current ratio of 3.24. The stock has a 50 day simple moving average of $50.93 and a 200 day simple moving average of $47.74. Cactus, Inc. has a one year low of $37.58 and a one year high of $57.00. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 1.61 and a beta of 1.98.

Cactus (NYSE:WHD) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. Cactus had a return on equity of 22.46% and a net margin of 14.46%. The company had revenue of $274.12 million during the quarter, compared to analysts’ expectations of $270.70 million. During the same quarter in the previous year, the business earned $0.64 EPS. Cactus’s revenue was up 20.0% compared to the same quarter last year. Sell-side analysts predict that Cactus, Inc. will post 2.94 earnings per share for the current year.

Cactus Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Tuesday, May 28th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend was Tuesday, May 28th. Cactus’s dividend payout ratio is presently 19.12%.

Analysts Set New Price Targets

WHD has been the topic of a number of research analyst reports. Barclays boosted their target price on Cactus from $55.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Johnson Rice lowered shares of Cactus from a “buy” rating to an “accumulate” rating in a research report on Friday, May 31st. Benchmark restated a “hold” rating on shares of Cactus in a report on Monday, May 6th. Finally, Bank of America increased their price target on shares of 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 assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $55.14.

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.