Cactus (NYSE:WHD) President Sells 86,700 Shares

by · The Cerbat Gem

Cactus, Inc. (NYSE:WHD – Get Free Report) President Joel Bender sold 86,700 shares of Cactus stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $57.62, for a total value of $4,995,654.00. Following the completion of the sale, the president directly owned 41,519 shares in the company, valued at $2,392,324.78. This represents a 67.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Cactus Stock Down 1.8%

Shares of Cactus stock traded down $1.14 during trading on Monday, reaching $63.87. The stock had a trading volume of 897,245 shares, compared to its average volume of 806,155. The company has a current ratio of 2.59, a quick ratio of 1.81 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 54.59, a P/E/G ratio of 2.45 and a beta of 1.36. The stock has a fifty day moving average price of $55.55 and a two-hundred day moving average price of $54.41. Cactus, Inc. has a 52 week low of $33.20 and a 52 week high of $65.19.

Cactus (NYSE:WHD – Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.29. Cactus had a return on equity of 16.66% and a net margin of 6.01%.The business had revenue of $449.53 million for the quarter, compared to analyst estimates of $400.82 million. During the same quarter last year, the firm earned $0.66 EPS. Cactus’s revenue for the quarter was up 64.3% compared to the same quarter last year. Sell-side analysts predict that Cactus, Inc. will post 2.92 EPS for the current fiscal year.

Cactus Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 31st will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.9%. The ex-dividend date is Monday, August 31st. This is an increase from Cactus’s previous quarterly dividend of $0.14. Cactus’s dividend payout ratio (DPR) is presently 47.86%.

Analysts Set New Price Targets

WHD has been the subject of several research reports. Piper Sandler raised their price objective on shares of Cactus from $72.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Citigroup upped their price target on shares of Cactus from $65.00 to $67.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Weiss Ratings upgraded Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Barclays lifted their target price on shares of Cactus from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Stifel Nicolaus upped their target price on Cactus from $68.00 to $72.00 and gave the company a “buy” rating in a report on Friday. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $65.20.

Check Out Our Latest Stock Report on Cactus

Institutional Trading of Cactus

Several hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its holdings in Cactus by 20.0% during the 4th quarter. Wellington Management Group LLP now owns 3,963,961 shares of the company’s stock valued at $181,074,000 after buying an additional 659,366 shares in the last quarter. State Street Corp increased its position in shares of Cactus by 3.0% in the fourth quarter. State Street Corp now owns 2,844,994 shares of the company’s stock worth $129,959,000 after purchasing an additional 83,190 shares during the last quarter. Capital International Investors increased its holdings in shares of Cactus by 27.0% in the 4th quarter. Capital International Investors now owns 2,343,731 shares of the company’s stock worth $107,062,000 after buying an additional 498,210 shares during the last quarter. First Trust Advisors LP increased its stake in Cactus by 13.7% in the first quarter. First Trust Advisors LP now owns 2,090,619 shares of the company’s stock valued at $99,033,000 after acquiring an additional 251,283 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Cactus by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 1,964,059 shares of the company’s stock worth $89,729,000 after buying an additional 28,415 shares during the last quarter. Institutional investors own 85.11% of the company’s stock.

Cactus Company Profile

(Get Free Report)

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.

Recommended Stories