Hancock Whitney Corp Invests $223,000 in Cactus, Inc. (NYSE:WHD)

Hancock Whitney Corp purchased a new stake in Cactus, Inc. (NYSE:WHD) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,732 shares of the company’s stock, valued at approximately $223,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Fisher Asset Management LLC boosted its holdings in shares of Cactus by 10.0% in the third quarter. Fisher Asset Management LLC now owns 330,444 shares of the company’s stock worth $19,718,000 after buying an additional 30,014 shares during the period. Citigroup Inc. lifted its position in shares of Cactus by 81.2% in the 3rd quarter. Citigroup Inc. now owns 89,464 shares of the company’s stock valued at $5,338,000 after acquiring an additional 40,099 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Cactus by 8.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 687,816 shares of the company’s stock valued at $41,042,000 after acquiring an additional 53,318 shares in the last quarter. Intech Investment Management LLC acquired a new position in Cactus in the 3rd quarter worth approximately $987,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Cactus during the 3rd quarter worth approximately $1,485,000. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Insider Buying and Selling at Cactus

In other Cactus news, CEO Stephen Tadlock sold 33,500 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $61.35, for a total transaction of $2,055,225.00. Following the transaction, the chief executive officer now owns 36,357 shares in the company, valued at $2,230,501.95. This trade represents a 47.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Steven Bender sold 100,000 shares of Cactus stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $65.35, for a total transaction of $6,535,000.00. Following the completion of the transaction, the chief operating officer now directly owns 57,567 shares in the company, valued at approximately $3,762,003.45. This represents a 63.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 138,500 shares of company stock worth $8,916,325 over the last three months. Corporate insiders own 17.72% of the company’s stock.

Cactus Stock Down 0.4 %

Shares of Cactus stock opened at $67.70 on Thursday. The firm has a market cap of $5.39 billion, a price-to-earnings ratio of 24.01, a P/E/G ratio of 3.21 and a beta of 1.95. The stock has a 50-day simple moving average of $62.74 and a 200-day simple moving average of $57.76. Cactus, Inc. has a 52-week low of $37.58 and a 52-week high of $70.01. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67.

Cactus (NYSE:WHD) last posted its earnings results on Wednesday, October 30th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.75 by $0.04. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The company had revenue of $293.18 million during the quarter, compared to the consensus estimate of $287.47 million. During the same period in the previous year, the firm posted $0.80 earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, equities research analysts expect that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.77%. The ex-dividend date is Monday, December 2nd. Cactus’s payout ratio is 18.44%.

Wall Street Analyst Weigh In

WHD has been the subject of several recent analyst reports. Bank of America raised their target price on Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a research report on Monday, October 14th. Stifel Nicolaus lowered their target price on Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Finally, Barclays lowered shares of Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price target for the company. in a research report on Monday, November 4th. 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. Based on data from MarketBeat, Cactus has a consensus rating of “Hold” and a consensus target price of $56.40.

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.