Legal & General Group Plc Has $8.32 Million Stock Holdings in Cactus, Inc. $WHD

Legal & General Group Plc decreased its stake in Cactus, Inc. (NYSE:WHD) by 4.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 182,227 shares of the company’s stock after selling 9,441 shares during the period. Legal & General Group Plc owned 0.23% of Cactus worth $8,324,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in WHD. Advisors Asset Management Inc. increased its stake in shares of Cactus by 113.8% in the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock valued at $47,000 after buying an additional 543 shares during the period. AQR Capital Management LLC increased its stake in shares of Cactus by 101.1% in the first quarter. AQR Capital Management LLC now owns 11,427 shares of the company’s stock valued at $524,000 after buying an additional 5,745 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Cactus by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,685 shares of the company’s stock worth $1,819,000 after purchasing an additional 1,733 shares during the period. United Services Automobile Association acquired a new stake in Cactus during the first quarter worth approximately $203,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Cactus by 26.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,931 shares of the company’s stock worth $10,400,000 after purchasing an additional 46,835 shares during the period. Institutional investors and hedge funds own 85.11% of the company’s stock.

Insider Buying and Selling at Cactus

In other news, Director Michael Y. Mcgovern sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $56.57, for a total value of $678,840.00. Following the transaction, the director owned 15,990 shares in the company, valued at $904,554.30. This trade represents a 42.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alan Semple sold 10,206 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $56.62, for a total value of $577,863.72. Following the completion of the transaction, the director owned 29,444 shares in the company, valued at $1,667,119.28. This represents a 25.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 129,015 shares of company stock valued at $6,588,609. Company insiders own 12.91% of the company’s stock.

Cactus Trading Down 3.9%

Shares of Cactus stock opened at $56.59 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.71 and a current ratio of 2.61. Cactus, Inc. has a 52 week low of $33.20 and a 52 week high of $64.30. The stock has a 50 day moving average price of $55.29 and a two-hundred day moving average price of $51.69. The stock has a market capitalization of $4.54 billion, a PE ratio of 53.39, a price-to-earnings-growth ratio of 2.32 and a beta of 1.37.

Cactus (NYSE:WHD) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Cactus had a return on equity of 15.43% and a net margin of 6.17%.The firm had revenue of $388.35 million during the quarter, compared to analysts’ expectations of $380.42 million. During the same quarter last year, the firm posted $0.73 earnings per share. The company’s revenue for the quarter was up 38.5% compared to the same quarter last year. As a group, equities analysts anticipate that Cactus, Inc. will post 2.86 earnings per share for the current fiscal year.

Cactus Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Monday, June 1st will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Monday, June 1st. Cactus’s dividend payout ratio (DPR) is 52.83%.

Analyst Ratings Changes

WHD has been the subject of several recent analyst reports. Stifel Nicolaus raised their target price on Cactus from $59.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Wall Street Zen cut Cactus from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Barclays raised their target price on Cactus from $62.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Piper Sandler raised their target price on Cactus from $69.00 to $72.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Finally, Weiss Ratings cut Cactus from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 27th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Cactus currently has an average rating of “Moderate Buy” and an average price target of $62.60.

Cactus Company 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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.