Cactus (NYSE:WHD) CEO Sells 100,000 Shares of Company Stock

Cactus, Inc. (NYSE:WHD) CEO Scott Bender sold 100,000 shares of Cactus stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $61.97, for a total transaction of $6,197,000.00. Following the sale, the chief executive officer owned 120,527 shares in the company, valued at approximately $7,469,058.19. The trade was a 45.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Scott Bender also recently made the following trade(s):

• On Monday, August 3rd, Scott Bender sold 100,000 shares of Cactus stock. The shares were sold at an average price of $63.89, for a total transaction of $6,389,000.00.
• On Monday, July 27th, Scott Bender sold 13,300 shares of Cactus stock. The stock was sold at an average price of $55.07, for a total value of $732,431.00.

Cactus Trading Up 2.1%

WHD stock traded up $1.28 during mid-day trading on Friday, reaching $63.48. 493,450 shares of the stock traded hands, compared to its average volume of 884,375. Cactus, Inc. has a one year low of $33.20 and a one year high of $74.07. The stock has a market capitalization of $5.09 billion, a PE ratio of 54.25, a PEG ratio of 2.19 and a beta of 1.42. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 2.59. The business has a 50-day moving average price of $67.17 and a two-hundred day moving average price of $58.71.

Cactus (NYSE:WHD) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.29. Cactus had a net margin of 6.01% and a return on equity of 16.66%. The company had revenue of $449.53 million during the quarter, compared to analyst estimates of $400.82 million. During the same quarter last year, the business posted $0.66 EPS. The firm’s revenue for the quarter was up 64.3% on a year-over-year basis. Equities research analysts expect that Cactus, Inc. will post 3.12 EPS for the current year.

Cactus Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Monday, August 31st were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.9%. This is an increase from Cactus’s previous quarterly dividend of $0.14. The ex-dividend date was Monday, August 31st. Cactus’s dividend payout ratio is currently 51.28%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Citigroup reduced their price target on shares of Cactus from $75.00 to $73.00 and set a “neutral” rating for the company in a research report on Wednesday. Barclays upped their price objective on shares of Cactus from $70.00 to $74.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Stifel Nicolaus increased their price objective on shares of Cactus from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Cactus in a report on Tuesday, September 8th. Finally, Piper Sandler boosted their target price on shares of Cactus from $72.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $66.40.

Hedge Funds Weigh In On Cactus

A number of institutional investors and hedge funds have recently bought and sold shares of WHD. Capital International Investors raised its holdings in Cactus by 27.0% in the 4th quarter. Capital International Investors now owns 2,343,731 shares of the company’s stock valued at $107,062,000 after buying an additional 498,210 shares during the period. First Trust Advisors LP raised its stake in shares of Cactus by 13.7% in the 1st 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 period. Geode Capital Management LLC lifted its holdings in shares of 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 acquiring an additional 28,415 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Cactus by 3.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,821,142 shares of the company’s stock worth $86,266,000 after purchasing an additional 53,576 shares during the period. Finally, Jennison Associates LLC increased its holdings in Cactus by 202.3% in the 1st quarter. Jennison Associates LLC now owns 1,713,701 shares of the company’s stock valued at $81,178,000 after purchasing an additional 1,146,766 shares during the last quarter. 85.11% of the stock is currently owned by institutional investors and hedge funds.

About Cactus

Cactus, Inc is an oilfield equipment company that designs, manufactures, sells and rents wellhead and pressure control equipment for onshore oil and gas producers. Its products are used throughout the life cycle of a well, from drilling and completion to production and workover operations.

The company’s offerings include conventional and automated wellheads, production trees, frac stacks, zipper manifolds and other pressure control systems. Cactus also provides equipment installation, field service, maintenance, rental and monitoring services intended to help operators improve wellsite safety, efficiency and control.

Founded in 2011 and headquartered in Houston, Texas, Cactus primarily serves oil and gas customers in North America and select international markets.