Key Points
- President Joel Bender sold 63,963 shares on March 5 at an average price of $50.74 for proceeds of $3.245M, trimming his holding by 20.85% to 242,838 shares (≈$12.32M).
- Cactus beat quarterly expectations and declared a dividend: Q EPS $0.65 vs $0.58 consensus on $261.2M revenue (down 4% YoY), and it announced a $0.14 quarterly dividend ($0.56 annual, 1.1% yield); analysts maintain a "Moderate Buy" consensus with an average target of $56.33.
Cactus, Inc. (NYSE:WHD - Get Free Report) President Joel Bender sold 63,963 shares of the business's stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $50.74, for a total transaction of $3,245,482.62. Following the transaction, the president owned 242,838 shares in the company, valued at $12,321,600.12. The trade was a 20.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Cactus Trading Up 3.2%
NYSE:WHD opened at $51.64 on Tuesday. The company has a current ratio of 5.81, a quick ratio of 4.13 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of 21.51, a PEG ratio of 4.91 and a beta of 1.25. The firm has a fifty day simple moving average of $53.87 and a two-hundred day simple moving average of $45.88. Cactus, Inc. has a 12 month low of $33.20 and a 12 month high of $59.25.
Cactus (NYSE:WHD - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.07. Cactus had a net margin of 15.39% and a return on equity of 15.18%. The firm had revenue of $261.20 million during the quarter, compared to the consensus estimate of $250.60 million. During the same period in the previous year, the firm posted $0.71 earnings per share. The business's revenue was down 4.0% compared to the same quarter last year. Analysts expect that Cactus, Inc. will post 3.08 EPS for the current fiscal year.
Cactus Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Monday, March 2nd will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, March 2nd. Cactus's payout ratio is presently 23.33%.
Hedge Funds Weigh In On Cactus
A number of hedge funds have recently added to or reduced their stakes in WHD. State of Tennessee Department of Treasury increased its holdings in Cactus by 12.1% during the 4th quarter. State of Tennessee Department of Treasury now owns 35,452 shares of the company's stock worth $1,619,000 after purchasing an additional 3,823 shares in the last quarter. EP Wealth Advisors LLC bought a new position in shares of Cactus in the fourth quarter valued at approximately $335,000. Cim LLC bought a new position in shares of Cactus in the fourth quarter valued at approximately $218,000. Voloridge Investment Management LLC boosted its position in shares of Cactus by 25.9% during the fourth quarter. Voloridge Investment Management LLC now owns 74,035 shares of the company's stock valued at $3,382,000 after buying an additional 15,229 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Cactus by 20.0% during the fourth 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 during the last quarter. Institutional investors and hedge funds own 85.11% of the company's stock.
Analyst Upgrades and Downgrades
WHD has been the topic of several recent research reports. Citigroup increased their price target on Cactus from $55.00 to $63.00 and gave the stock a "buy" rating in a report on Tuesday, March 3rd. Weiss Ratings restated a "hold (c)" rating on shares of Cactus in a report on Monday, December 29th. Piper Sandler started coverage on Cactus in a research report on Tuesday, February 24th. They set an "overweight" rating and a $73.00 target price on the stock. Wall Street Zen upgraded Cactus from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Zacks Research downgraded shares of Cactus from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 26th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Cactus currently has a consensus rating of "Moderate Buy" and an average price target of $56.33.
Check Out Our Latest Analysis on Cactus
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.
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