Key Points
- Director Michael Mcgovern sold 12,000 shares of Cactus stock for about $678,840 at an average price of $56.57, reducing his ownership by 42.87%.
- Cactus recently reported better-than-expected quarterly results, with EPS of $0.70 versus the $0.65 consensus and revenue of $388.35 million versus estimates of $380.42 million.
- The company also announced a quarterly dividend of $0.14 per share, and analysts currently rate the stock a Moderate Buy with an average price target of $58.00.
Cactus, Inc. (NYSE:WHD - Get Free Report) Director Alan Semple sold 10,206 shares of Cactus stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $56.62, for a total transaction of $577,863.72. Following the completion of the transaction, the director owned 29,444 shares of the company's stock, valued at $1,667,119.28. This trade represents a 25.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Cactus Stock Up 3.0%
Shares of WHD opened at $57.74 on Friday. The company has a market capitalization of $4.61 billion, a P/E ratio of 54.47, a PEG ratio of 2.14 and a beta of 1.37. Cactus, Inc. has a one year low of $33.20 and a one year high of $59.25. The business's 50 day simple moving average is $51.42 and its 200-day simple moving average is $49.79. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.61 and a quick ratio of 1.71.
Cactus (NYSE:WHD - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.05. Cactus had a return on equity of 15.43% and a net margin of 6.17%.The firm had revenue of $388.35 million during the quarter, compared to analysts' expectations of $380.42 million. During the same period last year, the firm posted $0.73 EPS. The business's revenue was up 38.5% on a year-over-year basis. As a group, sell-side analysts predict that Cactus, Inc. will post 2.84 EPS for the current fiscal year.
Cactus Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Monday, June 1st will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, June 1st. Cactus's payout ratio is currently 52.83%.
Wall Street Analysts Forecast Growth
WHD has been the topic of a number of research analyst reports. Citigroup increased their price objective on shares of Cactus from $63.00 to $65.00 and gave the stock a "buy" rating in a report on Monday. Barclays boosted their target price on shares of Cactus from $62.00 to $70.00 and gave the stock an "overweight" rating in a research note on Monday. Zacks Research cut shares of Cactus from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 26th. Wall Street Zen lowered shares of Cactus from a "buy" rating to a "hold" rating in a report on Saturday, March 21st. Finally, Piper Sandler started coverage on shares of Cactus in a research report on Tuesday, February 24th. They issued an "overweight" rating and a $73.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $58.00.
View Our Latest Report on WHD
Institutional Investors Weigh In On Cactus
A number of institutional investors and hedge funds have recently modified their holdings of the business. Vest Financial LLC lifted its stake in shares of Cactus by 35.3% in the 3rd quarter. Vest Financial LLC now owns 107,899 shares of the company's stock valued at $4,259,000 after purchasing an additional 28,139 shares during the period. Hudson Edge Investment Partners Inc. grew its stake in shares of Cactus by 249.2% during the third quarter. Hudson Edge Investment Partners Inc. now owns 28,388 shares of the company's stock worth $1,120,000 after purchasing an additional 20,258 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in Cactus in the third quarter valued at about $1,872,000. VELA Investment Management LLC lifted its stake in Cactus by 24.2% in the fourth quarter. VELA Investment Management LLC now owns 146,042 shares of the company's stock valued at $6,671,000 after buying an additional 28,493 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. bought a new position in Cactus during the third quarter worth about $525,000. 85.11% of the stock is owned by institutional investors.
About Cactus
(
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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