Jennison Associates LLC Has $38.36 Million Holdings in Cactus, Inc. (NYSE:WHD)

Jennison Associates LLC trimmed its position in shares of Cactus, Inc. (NYSE:WHD) by 29.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 642,795 shares of the company’s stock after selling 271,516 shares during the period. Jennison Associates LLC’s holdings in Cactus were worth $38,356,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in WHD. Quest Partners LLC acquired a new stake in shares of Cactus in the third quarter worth $34,000. GAMMA Investing LLC boosted its holdings in Cactus by 33.8% during the second quarter. GAMMA Investing LLC now owns 1,345 shares of the company’s stock valued at $71,000 after purchasing an additional 340 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Cactus during the first quarter valued at $115,000. Nisa Investment Advisors LLC boosted its position in Cactus by 10.8% in the third quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company’s stock valued at $188,000 after buying an additional 307 shares in the last quarter. Finally, NJ State Employees Deferred Compensation Plan acquired a new stake in Cactus during the 3rd quarter valued at $209,000. Institutional investors own 85.11% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on WHD shares. Barclays cut shares of Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price target on the stock. in a research note on Monday, November 4th. Stifel Nicolaus decreased their price objective on shares of Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a report on Friday, October 11th. Finally, Bank of America raised their price target on Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a research report on Monday, October 14th. 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $56.40.

Cactus Stock Up 5.3 %

Cactus stock opened at $68.78 on Friday. The company has a current ratio of 3.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.01. The company has a fifty day simple moving average of $61.87 and a 200 day simple moving average of $57.22. The company has a market cap of $5.47 billion, a P/E ratio of 24.39, a price-to-earnings-growth ratio of 3.08 and a beta of 1.95. Cactus, Inc. has a 1-year low of $37.58 and a 1-year high of $70.01.

Cactus (NYSE:WHD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.04. The company had revenue of $293.18 million during the quarter, compared to the consensus estimate of $287.47 million. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.80 EPS. Research analysts anticipate that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Monday, December 2nd. Cactus’s dividend payout ratio is presently 18.44%.

Insiders Place Their Bets

In other Cactus news, Director Bruce M. Rothstein sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $65.22, for a total transaction of $326,100.00. Following the completion of the transaction, the director now directly owns 12,177 shares in the company, valued at $794,183.94. The trade was a 29.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen Tadlock sold 33,500 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $61.35, for a total value of $2,055,225.00. Following the completion of the sale, the chief executive officer now directly owns 36,357 shares in the company, valued at approximately $2,230,501.95. This represents a 47.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 138,500 shares of company stock worth $8,916,325 over the last three months. Insiders own 17.71% of the company’s stock.

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.