Insider Selling: Cactus (NYSE:WHD) CEO Sells $6,197,000.00 in Stock

Cactus, Inc. (NYSE:WHD) CEO Scott Bender sold 100,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer owned 120,527 shares in the company, valued at approximately $7,469,058.19. The trade was a 45.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 value of $732,431.00.

Cactus Stock Up 0.1%

Cactus stock opened at $63.48 on Monday. Cactus, Inc. has a 12 month low of $33.20 and a 12 month high of $74.07. The stock has a fifty day simple moving average of $67.34 and a two-hundred day simple moving average of $58.83. The company has a current ratio of 2.59, a quick ratio of 1.81 and a debt-to-equity ratio of 0.01. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of 54.25, a PEG ratio of 2.24 and a beta of 1.42.

Cactus (NYSE:WHD) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $449.53 million for the quarter, compared to the consensus estimate of $400.82 million. During the same period in the prior year, the company posted $0.66 earnings per share. The company’s quarterly revenue was up 64.3% on a year-over-year basis. Equities analysts predict that Cactus, Inc. will post 3.12 EPS for the current fiscal year.

Cactus Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Monday, August 31st were paid a dividend of $0.15 per share. The ex-dividend date was Monday, August 31st. This represents a $0.60 annualized dividend and a yield of 0.9%. This is an increase from Cactus’s previous quarterly dividend of $0.14. Cactus’s dividend payout ratio (DPR) is currently 51.28%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on WHD shares. Citigroup lowered their price objective on shares of Cactus from $75.00 to $73.00 and set a “neutral” rating on the stock in a research report on Wednesday. Barclays lifted their target price on shares of Cactus from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Cactus in a research note on Tuesday, September 8th. Stifel Nicolaus increased their price target on Cactus from $68.00 to $72.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, Piper Sandler raised their price target on Cactus from $72.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Cactus presently has an average rating of “Hold” and an average target price of $66.40.

Hedge Funds Weigh In On Cactus

Several institutional investors and hedge funds have recently bought and sold shares of WHD. Capital International Investors increased its position in Cactus by 27.0% in the fourth quarter. Capital International Investors now owns 2,343,731 shares of the company’s stock worth $107,062,000 after buying an additional 498,210 shares in the last quarter. First Trust Advisors LP raised its stake in Cactus by 13.7% during the 1st quarter. First Trust Advisors LP now owns 2,090,619 shares of the company’s stock worth $99,033,000 after acquiring an additional 251,283 shares during the period. Geode Capital Management LLC raised its stake in Cactus by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 1,964,059 shares of the company’s stock worth $89,729,000 after acquiring an additional 28,415 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Cactus by 3.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,821,142 shares of the company’s stock valued at $86,266,000 after purchasing an additional 53,576 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in Cactus by 202.3% during the first quarter. Jennison Associates LLC now owns 1,713,701 shares of the company’s stock valued at $81,178,000 after purchasing an additional 1,146,766 shares in the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Cactus Company Profile

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.