Insider Selling: Cactus (NYSE:WHD) CEO Sells $6,391,000.00 in Stock

Cactus, Inc. (NYSE:WHD) CEO Scott Bender sold 100,000 shares of Cactus stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $63.91, for a total transaction of $6,391,000.00. Following the completion of the transaction, the chief executive officer directly owned 120,527 shares in the company, valued at $7,702,880.57. The trade was a 45.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Scott Bender also recently made the following trade(s):

• On Thursday, October 1st, Scott Bender sold 100,000 shares of Cactus stock. The shares were sold at an average price of $61.97, for a total transaction of $6,197,000.00.

Cactus Stock Down 5.4%

Shares of NYSE:WHD opened at $54.91 on Friday. The stock has a market cap of $4.40 billion, a P/E ratio of 38.13, a P/E/G ratio of 1.48 and a beta of 1.38. The firm has a fifty day moving average price of $65.22 and a 200 day moving average price of $58.48. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.06 and a quick ratio of 2.10. Cactus, Inc. has a 1-year low of $39.16 and a 1-year high of $74.07.

Cactus (NYSE:WHD) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.19. Cactus had a net margin of 6.69% and a return on equity of 17.93%. The company had revenue of $430.89 million for the quarter, compared to analyst estimates of $437.94 million. During the same period in the previous year, the business posted $0.67 earnings per share. Cactus’s quarterly revenue was up 63.2% on a year-over-year basis. Sell-side analysts predict that Cactus, Inc. will post 3.22 EPS for the current year.

Cactus Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Monday, November 30th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, November 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.1%. Cactus’s dividend payout ratio (DPR) is currently 41.67%.

Wall Street Analysts Forecast Growth

Several analysts have commented on WHD shares. Wall Street Zen downgraded Cactus from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Barclays lifted their target price on Cactus from $74.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, October 15th. Citigroup boosted their target price on Cactus from $73.00 to $74.00 and gave the company a “neutral” rating in a report on Tuesday. Weiss Ratings restated a “hold (c)” rating on shares of Cactus in a research note on Tuesday, September 8th. Finally, Piper Sandler upped their price target on Cactus from $75.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $74.75.

Institutional Trading of Cactus

Several hedge funds and other institutional investors have recently made changes to their positions in the company. First Trust Advisors LP increased its holdings in Cactus by 13.7% in the first quarter. First Trust Advisors LP now owns 2,090,619 shares of the company’s stock valued at $99,033,000 after buying an additional 251,283 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Cactus by 3.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,821,142 shares of the company’s stock valued at $86,266,000 after acquiring an additional 53,576 shares during the period. Jennison Associates LLC lifted its position in shares of Cactus by 202.3% during the 1st quarter. Jennison Associates LLC now owns 1,713,701 shares of the company’s stock valued at $81,178,000 after acquiring an additional 1,146,766 shares during the period. Encompass Capital Advisors LLC purchased a new stake in shares of Cactus during the 1st quarter worth approximately $36,262,000. Finally, Bank of America Corp DE boosted its stake in shares of Cactus by 34.8% during the 1st quarter. Bank of America Corp DE now owns 659,889 shares of the company’s stock worth $31,259,000 after acquiring an additional 170,534 shares in the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Cactus Company Profile

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.