Cactus, Inc. $WHD Shares Sold by Vest Financial LLC

Vest Financial LLC cut its stake in Cactus, Inc. (NYSE:WHD) by 33.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 78,609 shares of the company’s stock after selling 39,102 shares during the period. Vest Financial LLC’s holdings in Cactus were worth $4,891,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. First Trust Advisors LP raised its holdings 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 purchasing an additional 251,283 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Cactus by 3.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,821,142 shares of the company’s stock worth $86,266,000 after purchasing an additional 53,576 shares during the period. Jennison Associates LLC lifted its position in shares of Cactus by 202.3% in the 1st quarter. Jennison Associates LLC now owns 1,713,701 shares of the company’s stock worth $81,178,000 after purchasing an additional 1,146,766 shares during the period. Wasatch Advisors LP boosted its stake in shares of Cactus by 79.0% in the 1st quarter. Wasatch Advisors LP now owns 1,349,420 shares of the company’s stock valued at $63,922,000 after purchasing an additional 595,562 shares during the last quarter. Finally, Deprince Race & Zollo Inc. bought a new stake in shares of Cactus in the 1st quarter valued at $41,895,000. Institutional investors and hedge funds own 85.11% of the company’s stock.

Wall Street Analyst Weigh In

WHD has been the subject of several recent analyst reports. Citigroup decreased their price objective on shares of Cactus from $75.00 to $73.00 and set a “neutral” rating for the company in a research report on Wednesday, September 30th. Wall Street Zen upgraded shares of Cactus from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Piper Sandler upped their price target on shares of Cactus from $72.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cactus in a report on Tuesday, September 8th. Finally, Barclays increased their price target on Cactus from $74.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, October 15th. 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.com, the stock has a consensus rating of “Hold” and an average price target of $66.60.

Insider Transactions at Cactus

In related news, 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 value of $1,691,250.00. Following the completion of the sale, the chief executive officer 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Joel Bender sold 100,000 shares of Cactus stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $70.37, for a total transaction of $7,037,000.00. Following the completion of the sale, the president directly owned 41,519 shares of the company’s stock, valued at approximately $2,921,692.03. The trade was a 70.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 463,455 shares of company stock valued at $29,495,764 over the last ninety days. Company insiders own 12.91% of the company’s stock.

Cactus Price Performance

WHD stock opened at $63.14 on Friday. The stock has a market capitalization of $5.06 billion, a PE ratio of 53.96, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The company’s 50-day moving average is $66.59 and its 200-day moving average is $60.39. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.59 and a quick ratio of 1.81. Cactus, Inc. has a 1 year low of $38.89 and a 1 year high of $74.07.

Cactus (NYSE:WHD) 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. Cactus had a return on equity of 16.66% and a net margin of 6.01%. The business had revenue of $449.53 million during the quarter, compared to analyst estimates of $400.82 million. During the same period in the previous year, the company posted $0.66 EPS. The firm’s revenue was up 64.3% compared to the same quarter last year. Equities research analysts expect that Cactus, Inc. will post 3.08 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. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Monday, August 31st. Cactus’s dividend payout ratio is presently 51.28%.

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.