Cactus, Inc. $WHD Shares Sold by TD Asset Management Inc

TD Asset Management Inc trimmed its holdings in shares of Cactus, Inc. (NYSE:WHD) by 25.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,164 shares of the company’s stock after selling 10,778 shares during the period. TD Asset Management Inc’s holdings in Cactus were worth $1,406,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Principal Financial Group Inc. raised its stake in shares of Cactus by 2.3% during the first quarter. Principal Financial Group Inc. now owns 365,477 shares of the company’s stock valued at $16,750,000 after purchasing an additional 8,164 shares during the period. Jane Street Group LLC raised its stake in shares of Cactus by 482.7% during the first quarter. Jane Street Group LLC now owns 238,879 shares of the company’s stock valued at $10,948,000 after purchasing an additional 197,887 shares during the period. KBC Group NV raised its stake in shares of Cactus by 11.9% during the first quarter. KBC Group NV now owns 3,373 shares of the company’s stock valued at $155,000 after purchasing an additional 360 shares during the period. Aigen Investment Management LP purchased a new stake in shares of Cactus during the first quarter valued at approximately $376,000. Finally, Wellington Management Group LLP raised its stake in shares of Cactus by 12.1% during the first quarter. Wellington Management Group LLP now owns 1,508,103 shares of the company’s stock valued at $69,116,000 after purchasing an additional 162,374 shares during the period. 85.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on WHD. Stifel Nicolaus dropped their price objective on shares of Cactus from $57.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, August 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Cactus in a research note on Wednesday, October 8th. Barclays reiterated an “overweight” rating and set a $52.00 price objective (down previously from $53.00) on shares of Cactus in a research note on Monday, August 4th. Zacks Research lowered shares of Cactus from a “hold” rating to a “strong sell” rating in a research note on Monday, September 8th. Finally, Wall Street Zen upgraded shares of Cactus from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $51.67.

Insider Buying and Selling at Cactus

In other Cactus news, EVP William D. Marsh sold 10,172 shares of the 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 sale, the executive vice president directly owned 11,088 shares of the company’s stock, valued at approximately $458,156.16. This represents a 47.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 13.75% of the company’s stock.

Cactus Trading Down 0.7%

WHD opened at $37.64 on Thursday. The stock has a market capitalization of $3.00 billion, a PE ratio of 14.20, a P/E/G ratio of 3.59 and a beta of 1.48. The firm’s fifty day moving average price is $39.46 and its 200 day moving average price is $41.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.85 and a quick ratio of 3.48. Cactus, Inc. has a 12-month low of $33.20 and a 12-month high of $70.01.

Cactus (NYSE:WHD) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). The company 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%. The company’s revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.81 earnings per share. As a group, research analysts expect that Cactus, Inc. will post 3.08 EPS for the current fiscal year.

Cactus Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Friday, August 29th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.5%. This is a positive change from Cactus’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, August 29th. Cactus’s dividend payout ratio is currently 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.