Lisanti Capital Growth LLC Acquires 58,020 Shares of Cactus, Inc. $WHD

Lisanti Capital Growth LLC bought a new position in Cactus, Inc. (NYSE:WHD) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 58,020 shares of the company’s stock, valued at approximately $3,610,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Hohimer Wealth Management LLC lifted its position in shares of Cactus by 4.9% during the third quarter. Hohimer Wealth Management LLC now owns 4,604 shares of the company’s stock worth $286,000 after purchasing an additional 216 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Cactus by 56.8% in the third quarter. Signaturefd LLC now owns 665 shares of the company’s stock worth $41,000 after purchasing an additional 241 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Cactus by 1.3% in the second quarter. Arizona State Retirement System now owns 19,154 shares of the company’s stock worth $981,000 after purchasing an additional 242 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in shares of Cactus by 6.5% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 4,900 shares of the company’s stock worth $305,000 after purchasing an additional 300 shares during the last quarter. Finally, Your Advocates Ltd. LLP bought a new position in shares of Cactus in the third quarter worth about $34,000. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Cactus Stock Up 4.1%

NYSE:WHD opened at $61.58 on Thursday. Cactus, Inc. has a 1-year low of $39.16 and a 1-year high of $74.07. The company has a 50-day moving average of $64.43 and a 200 day moving average of $58.59. The firm has a market cap of $4.94 billion, a PE ratio of 42.76, a price-to-earnings-growth ratio of 1.51 and a beta of 1.38. 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 (NYSE:WHD) last issued its earnings results on Wednesday, October 28th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.19. The company had revenue of $430.89 million for the quarter, compared to analysts’ expectations of $437.94 million. Cactus had a net margin of 6.69% and a return on equity of 17.93%. The firm’s quarterly revenue was up 63.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.67 EPS. As a group, research analysts anticipate that Cactus, Inc. will post 3.22 EPS for the current fiscal year.

Cactus Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Monday, November 30th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, November 30th. Cactus’s dividend payout ratio is presently 41.67%.

Analyst Upgrades and Downgrades

WHD has been the topic of several recent analyst reports. Barclays raised their price target on shares of Cactus from $74.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, October 15th. Stifel Nicolaus boosted 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. Weiss Ratings restated a “hold (c)” rating on shares of Cactus in a research note on Tuesday, September 8th. Wall Street Zen downgraded shares of Cactus from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Finally, Piper Sandler raised their target price on shares of Cactus from $75.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 3rd. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.75.

Insider Buying and Selling

In related news, CEO Scott Bender sold 100,000 shares of Cactus stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 120,527 shares of the company’s stock, valued at $7,702,880.57. This trade represents a 45.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joel Bender sold 100,000 shares of the business’s stock in a transaction that occurred on 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 directly owned 41,519 shares of the company’s stock, valued at $2,921,692.03. This trade represents a 70.66% decrease in their position. 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. Over the last quarter, insiders have sold 300,000 shares of company stock worth $19,625,000. Insiders own 12.91% of the company’s stock.

Cactus Profile

Cactus, Inc. designs, manufactures, sells and rents wellhead and pressure-control equipment used in oil and natural gas drilling and production. Its products include wellhead systems, frac trees and other equipment that help control pressure and manage the flow of fluids at the wellsite. The company also provides field services, including equipment installation, maintenance and support. Through its Spoolable Technologies business, Cactus offers flexible, spoolable pipe products for energy and other industrial applications.