Cactus, Inc. (NYSE:WHD – Get Free Report) President Joel Bender sold 86,700 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $57.62, for a total transaction of $4,995,654.00. Following the completion of the sale, the president owned 41,519 shares of the company’s stock, valued at approximately $2,392,324.78. This represents a 67.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Cactus Price Performance
Shares of WHD opened at $65.91 on Thursday. The stock has a 50 day simple moving average of $55.75 and a 200 day simple moving average of $54.61. Cactus, Inc. has a 52-week low of $33.20 and a 52-week high of $68.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 2.59. The firm has a market capitalization of $5.28 billion, a PE ratio of 56.33, a P/E/G ratio of 2.41 and a beta of 1.36.
Cactus (NYSE:WHD – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.29. The firm had revenue of $449.53 million for the quarter, compared to analyst estimates of $400.82 million. Cactus had a net margin of 6.01% and a return on equity of 16.66%. The business’s revenue was up 64.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 earnings per share. Sell-side analysts predict that Cactus, Inc. will post 3.07 EPS for the current fiscal year.
Cactus Increases Dividend
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on WHD shares. Weiss Ratings raised shares of Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Piper Sandler boosted their price target on Cactus from $72.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Citigroup upped their price objective on Cactus from $65.00 to $67.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Barclays increased their price objective on Cactus from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Stifel Nicolaus lifted their target price on Cactus from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Cactus currently has an average rating of “Moderate Buy” and an average target price of $65.20.
Read Our Latest Research Report on WHD
Institutional Trading of Cactus
Several institutional investors and hedge funds have recently bought and sold shares of WHD. Maryland State Retirement & Pension System increased its position in Cactus by 2.1% during the 4th quarter. Maryland State Retirement & Pension System now owns 10,066 shares of the company’s stock worth $460,000 after purchasing an additional 208 shares in the last quarter. Covestor Ltd boosted its position in Cactus by 8.6% in the fourth quarter. Covestor Ltd now owns 2,758 shares of the company’s stock valued at $126,000 after buying an additional 219 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of Cactus by 0.5% during the second quarter. CANADA LIFE ASSURANCE Co now owns 57,938 shares of the company’s stock worth $2,532,000 after buying an additional 269 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Cactus by 1.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 15,734 shares of the company’s stock worth $719,000 after buying an additional 300 shares during the last quarter. Finally, California State Teachers Retirement System increased its holdings in shares of Cactus by 0.5% during the second quarter. California State Teachers Retirement System now owns 66,538 shares of the company’s stock worth $2,909,000 after buying an additional 306 shares in the last quarter. Institutional investors own 85.11% of the company’s stock.
Cactus Company Profile
Cactus, Inc, together with its subsidiaries, designs, manufactures, sells, and leases pressure control and spoolable pipes in the United States, Australia, Canada, the Middle East, and internationally. It operates through two segments, Pressure Control and Spoolable Technologies. The Pressure Control segment designs, manufactures, sells, and rents a range of wellhead and pressure control equipment under the Cactus Wellhead brand name through service centers. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.
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