Cactus Inc (WHD) COO Joel Bender Sells 1,935,639 Shares of Stock

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Cactus Inc (NYSE:WHD) COO Joel Bender sold 1,935,639 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $35.93, for a total transaction of $69,547,509.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NYSE:WHD opened at $36.02 on Tuesday. Cactus Inc has a 52 week low of $24.60 and a 52 week high of $40.97. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.68 and a quick ratio of 2.34. The company has a market cap of $2.62 billion and a P/E ratio of 20.24.

Cactus (NYSE:WHD) last posted its earnings results on Wednesday, March 6th. The company reported $0.45 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.45. Cactus had a net margin of 9.50% and a return on equity of 37.69%. The company had revenue of $139.82 million during the quarter, compared to analysts’ expectations of $146.27 million. As a group, equities analysts anticipate that Cactus Inc will post 1.98 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of WHD. Neuberger Berman Group LLC lifted its position in Cactus by 455.5% during the third quarter. Neuberger Berman Group LLC now owns 1,840,590 shares of the company’s stock valued at $70,458,000 after acquiring an additional 1,509,243 shares during the last quarter. BlackRock Inc. lifted its position in Cactus by 42.4% during the third quarter. BlackRock Inc. now owns 3,321,353 shares of the company’s stock valued at $127,141,000 after acquiring an additional 988,965 shares during the last quarter. Vanguard Group Inc lifted its position in Cactus by 43.7% during the third quarter. Vanguard Group Inc now owns 3,198,471 shares of the company’s stock valued at $122,438,000 after acquiring an additional 973,085 shares during the last quarter. Vanguard Group Inc. lifted its position in Cactus by 43.7% during the third quarter. Vanguard Group Inc. now owns 3,198,471 shares of the company’s stock valued at $122,438,000 after acquiring an additional 973,085 shares during the last quarter. Finally, FMR LLC lifted its position in Cactus by 82.9% during the third quarter. FMR LLC now owns 1,914,055 shares of the company’s stock valued at $73,270,000 after acquiring an additional 867,298 shares during the last quarter. 52.02% of the stock is owned by institutional investors.

WHD has been the subject of several research reports. Raymond James initiated coverage on shares of Cactus in a research report on Wednesday, February 6th. They issued a “strong-buy” rating and a $39.00 price target for the company. Citigroup lowered their price target on shares of Cactus from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, January 4th. Bank of America initiated coverage on shares of Cactus in a research report on Monday, December 3rd. They issued a “buy” rating and a $36.00 price target for the company. ValuEngine raised shares of Cactus from a “sell” rating to a “hold” rating in a research report on Saturday, February 2nd. Finally, Stephens initiated coverage on shares of Cactus in a research report on Wednesday, January 9th. They issued an “overweight” rating and a $45.00 price target for the company. One analyst has rated the stock with a sell rating, one has given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $40.91.

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About Cactus

Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment. The company's principal products include Cactus SafeDrill wellhead systems, frac stacks, zipper manifolds, and production trees. It also provides field services, such as 24-hour service crews to assist with the installation, maintenance, and safe handling of the wellhead and pressure control equipment, as well as repair services for equipment that it sells or rents.

See Also: Systematic Risk

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