Alliancebernstein L.P. Sells 70,118 Shares of Cactus, Inc. (NYSE:WHD)

Alliancebernstein L.P. lowered its position in shares of Cactus, Inc. (NYSE:WHD) by 9.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 660,237 shares of the company’s stock after selling 70,118 shares during the period. Alliancebernstein L.P.’s holdings in Cactus were worth $38,531,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WHD. The Manufacturers Life Insurance Company boosted its stake in Cactus by 0.8% in the third quarter. The Manufacturers Life Insurance Company now owns 36,560 shares of the company’s stock worth $2,182,000 after buying an additional 301 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Cactus in the 3rd quarter valued at $434,000. State Street Corp grew its holdings in shares of Cactus by 3.0% during the 3rd quarter. State Street Corp now owns 2,755,757 shares of the company’s stock valued at $164,436,000 after purchasing an additional 81,149 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Cactus during the 3rd quarter valued at $596,000. Finally, Barclays PLC raised its position in Cactus by 429.4% in the 3rd quarter. Barclays PLC now owns 123,562 shares of the company’s stock worth $7,373,000 after purchasing an additional 100,223 shares during the period. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Barclays cut their price target on shares of Cactus from $61.00 to $54.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $55.00.

Cactus Stock Down 7.7 %

Shares of NYSE WHD opened at $37.51 on Friday. The firm’s fifty day moving average is $52.64 and its 200 day moving average is $58.93. Cactus, Inc. has a 52 week low of $35.35 and a 52 week high of $70.01. The company has a quick ratio of 2.67, a current ratio of 3.82 and a debt-to-equity ratio of 0.01. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 5.13 and a beta of 1.74.

Cactus (NYSE:WHD) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.01). The firm had revenue of $272.12 million during the quarter, compared to analysts’ expectations of $277.59 million. Cactus had a net margin of 16.57% and a return on equity of 20.24%. On average, equities research analysts expect that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 3rd were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date was Monday, March 3rd. Cactus’s payout ratio is 18.84%.

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.