Key Points
- Cactus CEO Scott Bender sold 100,000 shares at an average price of $61.97, generating $6.197 million; the transaction was conducted under a pre-arranged Rule 10b5-1 plan and reduced his ownership by 45.35%.
- Cactus reported strong quarterly results, with EPS of $0.93 and revenue of $449.53 million, beating estimates and increasing revenue 64.3% year over year.
- The stock has a consensus “Hold” rating with an average analyst price target of $66.40, while the company raised its quarterly dividend to $0.15 per share.
Cactus, Inc. (NYSE:WHD - Get Free Report) CEO Scott Bender sold 100,000 shares of Cactus stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $61.97, for a total transaction of $6,197,000.00. Following the completion of the sale, the chief executive officer owned 120,527 shares in the company, valued at approximately $7,469,058.19. This represents a 45.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Scott Bender also recently made the following trade(s):
- On Monday, August 3rd, Scott Bender sold 100,000 shares of Cactus stock. The stock was sold at an average price of $63.89, for a total transaction of $6,389,000.00.
- On Monday, July 27th, Scott Bender sold 13,300 shares of Cactus stock. The shares were sold at an average price of $55.07, for a total transaction of $732,431.00.
Cactus Trading Up 2.1%
Shares of Cactus stock opened at $63.48 on Friday. Cactus, Inc. has a twelve month low of $33.20 and a twelve month high of $74.07. The company has a quick ratio of 1.81, a current ratio of 2.59 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $67.34 and a 200-day moving average price of $58.74. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of 54.25, a PEG ratio of 2.19 and a beta of 1.42.
Cactus (NYSE:WHD - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.93 EPS for the quarter, topping analysts' consensus estimates of $0.64 by $0.29. Cactus had a return on equity of 16.66% and a net margin of 6.01%.The company had revenue of $449.53 million for the quarter, compared to the consensus estimate of $400.82 million. During the same period in the previous year, the business earned $0.66 earnings per share. The firm's revenue for the quarter was up 64.3% on a year-over-year basis. Equities research analysts anticipate that Cactus, Inc. will post 3.12 EPS for the current fiscal year.
Cactus Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Monday, August 31st were issued a dividend of $0.15 per share. This is a positive change from Cactus's previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.60 annualized dividend and a dividend yield of 0.9%. Cactus's payout ratio is currently 51.28%.
Wall Street Analysts Forecast Growth
WHD has been the subject of a number of research reports. Citigroup lowered their target price on Cactus from $75.00 to $73.00 and set a "neutral" rating for the company in a research report on Wednesday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Cactus in a research note on Tuesday, September 8th. Wall Street Zen raised shares of Cactus from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Stifel Nicolaus increased their price objective on shares of Cactus from $68.00 to $72.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Finally, Barclays lifted their price objective on shares of Cactus from $70.00 to $74.00 and gave the stock an "overweight" rating in a research note on Monday, August 3rd. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Cactus currently has a consensus rating of "Hold" and an average target price of $66.40.
View Our Latest Research 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. Energy Income Partners LLC grew its position in Cactus by 48.4% in the 1st quarter. Energy Income Partners LLC now owns 300,759 shares of the company's stock valued at $14,247,000 after acquiring an additional 98,124 shares during the last quarter. Morningstar Investment Management LLC bought a new stake in shares of Cactus during the first quarter worth $949,000. Squarepoint Ops LLC lifted its position in shares of Cactus by 104.5% during the second quarter. Squarepoint Ops LLC now owns 369,645 shares of the company's stock worth $18,937,000 after purchasing an additional 188,864 shares during the last quarter. Deprince Race & Zollo Inc. bought a new stake in shares of Cactus during the first quarter worth $41,895,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. boosted its stake in shares of Cactus by 62.3% during the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 72,920 shares of the company's stock valued at $3,454,000 after purchasing an additional 27,986 shares during the period. 85.11% of the stock is owned by institutional investors.
Cactus Company Profile
(
Get Free Report)
Cactus, Inc is an oilfield equipment company that designs, manufactures, sells and rents wellhead and pressure control equipment for onshore oil and gas producers. Its products are used throughout the life cycle of a well, from drilling and completion to production and workover operations.
The company's offerings include conventional and automated wellheads, production trees, frac stacks, zipper manifolds and other pressure control systems. Cactus also provides equipment installation, field service, maintenance, rental and monitoring services intended to help operators improve wellsite safety, efficiency and control.
Founded in 2011 and headquartered in Houston, Texas, Cactus primarily serves oil and gas customers in North America and select international markets.
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