Key Points
- CEO insider sale: Cactus CEO Steven Bender sold 25,000 shares at an average price of $67.65 for approximately $1.69 million, reducing his direct ownership by 20.12% to 99,241 shares.
- Strong quarterly results: Cactus reported quarterly EPS of $0.93, beating estimates of $0.64, while revenue rose 64.3% year over year to $449.53 million.
- Dividend and analyst outlook: The company raised its quarterly dividend to $0.15 per share, while analysts maintained a generally positive view, with a consensus rating of “Moderate Buy” and a $65.20 target price.
Cactus, Inc. (NYSE:WHD - Get Free Report) CEO Steven Bender sold 25,000 shares of Cactus stock in a transaction on Friday, August 7th. The shares were sold at an average price of $67.65, for a total transaction of $1,691,250.00. Following the completion of the sale, the chief executive officer directly owned 99,241 shares of the company's stock, valued at approximately $6,713,653.65. This trade represents a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Cactus Price Performance
Shares of NYSE WHD opened at $70.85 on Tuesday. The firm has a market capitalization of $5.68 billion, a P/E ratio of 60.56, a P/E/G ratio of 2.43 and a beta of 1.36. The firm's 50-day moving average price is $56.41 and its 200-day moving average price is $54.95. The company has a current ratio of 2.59, a quick ratio of 1.81 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a 1-year low of $33.20 and a 1-year high of $71.09.
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. The business had revenue of $449.53 million during the quarter, compared to analyst estimates of $400.82 million. Cactus had a return on equity of 16.66% and a net margin of 6.01%.The firm's revenue was up 64.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 EPS. Equities research analysts anticipate that Cactus, Inc. will post 3.07 earnings per share for the current fiscal year.
Cactus Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 31st will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, August 31st. This is a positive change from Cactus's previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.8%. Cactus's payout ratio is currently 47.86%.
Hedge Funds Weigh In On Cactus
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd grew its position in Cactus by 73.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company's stock valued at $34,000 after buying an additional 314 shares during the period. Johnson Financial Group Inc. bought a new stake in Cactus in the third quarter worth about $33,000. Advisors Asset Management Inc. boosted its stake in Cactus by 113.8% in the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company's stock valued at $47,000 after acquiring an additional 543 shares during the last quarter. Harbor Investment Advisory LLC purchased a new position in Cactus in the second quarter valued at about $58,000. Finally, Global Retirement Partners LLC grew its position in shares of Cactus by 39,200.0% during the 4th quarter. Global Retirement Partners LLC now owns 1,179 shares of the company's stock valued at $54,000 after acquiring an additional 1,176 shares during the period. 85.11% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts recently issued reports on WHD shares. Wall Street Zen raised shares of Cactus from a "hold" rating to a "buy" rating in a research report on Saturday. Piper Sandler upped their price objective on shares of Cactus from $72.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. Stifel Nicolaus lifted their price objective on shares of Cactus from $68.00 to $72.00 and gave the company a "buy" rating in a report on Friday, July 31st. Citigroup boosted their target price on shares of Cactus from $65.00 to $67.00 and gave the stock a "buy" rating in a research report on Thursday, June 18th. Finally, Weiss Ratings upgraded shares of Cactus from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, June 11th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Cactus currently has an average rating of "Moderate Buy" and a consensus target price of $65.20.
Check Out Our Latest Research Report on WHD
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.
Further Reading
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