10,278 Cactus, Inc. $WHD Shares Sold by Freedom Day Solutions LLC

Freedom Day Solutions LLC cut its stake in shares of Cactus, Inc. (NYSE:WHD) by 25.5% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 30,051 shares of the company’s stock after selling 10,278 shares during the period. Freedom Day Solutions LLC’s holdings in Cactus were worth $1,870,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of WHD. SteelPeak Wealth LLC purchased a new position in shares of Cactus in the third quarter valued at $211,000. Sax Wealth Advisors LLC acquired a new position in Cactus in the 3rd quarter worth $277,000. GAMMA Investing LLC boosted its position in Cactus by 45.3% in the 3rd quarter. GAMMA Investing LLC now owns 3,678 shares of the company’s stock valued at $229,000 after buying an additional 1,146 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Cactus by 134.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,448 shares of the company’s stock valued at $215,000 after buying an additional 1,977 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Cactus during the second quarter valued at about $250,000. Institutional investors and hedge funds own 85.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Barclays boosted their price target on Cactus from $74.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday. Piper Sandler raised their price objective on Cactus from $72.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Citigroup dropped their price objective on Cactus from $75.00 to $73.00 and set a “neutral” rating on the stock in a report on Wednesday, September 30th. Wall Street Zen upgraded Cactus from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Stifel Nicolaus lifted their price target on shares of Cactus from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Cactus has an average rating of “Hold” and a consensus price target of $66.60.

Insider Transactions at Cactus

In other Cactus news, CEO Stephen Tadlock sold 38,455 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $63.80, for a total transaction of $2,453,429.00. Following the sale, the chief executive officer directly owned 43,178 shares of the company’s stock, valued at approximately $2,754,756.40. This represents a 47.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Joel Bender sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $70.37, for a total transaction of $7,037,000.00. Following the completion of the transaction, the president owned 41,519 shares in the company, valued at approximately $2,921,692.03. The trade was a 70.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 463,455 shares of company stock valued at $29,495,764. 12.91% of the stock is currently owned by insiders.

Cactus Stock Performance

Shares of WHD stock opened at $61.68 on Tuesday. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 52.72, a PEG ratio of 1.65 and a beta of 1.42. Cactus, Inc. has a one year low of $36.80 and a one year high of $74.07. The company’s 50-day simple moving average is $67.39 and its 200-day simple moving average is $60.06. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 2.59.

Cactus (NYSE:WHD) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $400.82 million. During the same quarter in the prior year, the firm posted $0.66 earnings per share. Cactus’s revenue for the quarter was up 64.3% compared to the same quarter last year. Equities analysts anticipate that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Monday, August 31st were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. This is an increase from Cactus’s previous quarterly dividend of $0.14. Cactus’s dividend payout ratio is currently 51.28%.

About Cactus

Cactus, Inc (NYSE: WHD) designs, manufactures, sells and rents wellhead and pressure-control equipment used in onshore oil and gas drilling and production. Its products are designed to help operators manage pressure and control access to wells during drilling, completion and production activities.

The company’s offerings include wellhead systems, frac stacks, zipper manifolds and other pressure-control equipment. Cactus also provides field services, including equipment installation, maintenance and support, as well as rental services for selected products.