Key Points
- Cactus CEO Scott Bender sold 13,300 shares at an average price of $55.07, generating approximately $732,431. Following the sale, he retained 128,219 shares, a 9.4% reduction in his direct ownership.
- Cactus reported quarterly EPS of $0.93, beating estimates of $0.64, while revenue rose 64.3% year over year to $449.53 million. Analysts expect full-year EPS of $2.92.
- The company increased its quarterly dividend to $0.15 per share, or $0.60 annualized, representing a 1.1% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $63.60.
Cactus, Inc. (NYSE:WHD - Get Free Report) CEO Scott Bender sold 13,300 shares of Cactus stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $55.07, for a total transaction of $732,431.00. Following the transaction, the chief executive officer directly owned 128,219 shares in the company, valued at approximately $7,061,020.33. This trade represents a 9.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Cactus Price Performance
WHD opened at $52.31 on Thursday. Cactus, Inc. has a 52-week low of $33.20 and a 52-week high of $64.30. The company has a 50 day moving average of $55.46 and a two-hundred day moving average of $54.16. The company has a market cap of $4.19 billion, a P/E ratio of 49.35, a P/E/G ratio of 2.00 and a beta of 1.38. The company has a quick ratio of 1.71, a current ratio of 2.61 and a debt-to-equity ratio of 0.01.
Cactus (NYSE:WHD - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.29. Cactus had a net margin of 6.17% and a return on equity of 15.43%. The business had revenue of $449.53 million for the quarter, compared to the consensus estimate of $400.82 million. During the same quarter last year, the firm posted $0.66 EPS. The business's revenue for the quarter was up 64.3% compared to the same quarter last year. On average, analysts expect that Cactus, Inc. will post 2.92 earnings per share for the current year.
Cactus Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 31st will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.1%. This is a boost from Cactus's previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Monday, August 31st. Cactus's dividend payout ratio is 52.83%.
Wall Street Analysts Forecast Growth
WHD has been the subject of several analyst reports. Citigroup upped their target price on Cactus from $65.00 to $67.00 and gave the stock a "buy" rating in a research report on Thursday, June 18th. Weiss Ratings upgraded Cactus from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, June 11th. Barclays boosted their price target on Cactus from $62.00 to $70.00 and gave the stock an "overweight" rating in a research report on Monday, May 11th. Stifel Nicolaus restated a "buy" rating and issued a $68.00 price target (up from $66.00) on shares of Cactus in a report on Tuesday, June 16th. Finally, Piper Sandler increased their price objective 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. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $63.60.
Check Out Our Latest Stock Report on Cactus
Hedge Funds Weigh In On Cactus
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Johnson Financial Group Inc. acquired a new stake in shares of Cactus during the third quarter valued at about $33,000. Aster Capital Management DIFC Ltd lifted its stake in shares of Cactus by 73.4% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company's stock worth $34,000 after acquiring an additional 314 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Cactus by 113.8% in the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company's stock worth $47,000 after acquiring an additional 543 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in Cactus by 39,200.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,179 shares of the company's stock valued at $54,000 after purchasing an additional 1,176 shares during the last quarter. Finally, Harbor Investment Advisory LLC purchased a new position in Cactus in the second quarter valued at about $58,000. 85.11% of the stock is owned by hedge funds and other 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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