Cactus, Inc. (NYSE:WHD – Get Free Report) President Joel Bender sold 100,000 shares of the company’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 sale, the president directly owned 41,519 shares of the company’s stock, valued at approximately $2,921,692.03. This represents a 70.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Joel Bender also recently made the following trade(s):
- On Thursday, July 30th, Joel Bender sold 86,700 shares of Cactus stock. The shares were sold at an average price of $57.62, for a total transaction of $4,995,654.00.
Cactus Price Performance
Shares of NYSE:WHD opened at $72.20 on Thursday. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of 61.71, a PEG ratio of 2.49 and a beta of 1.37. 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 12 month low of $33.20 and a 12 month high of $74.07. The stock’s 50 day moving average price is $61.11 and its 200 day moving average price is $56.66.
Cactus Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 31st will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.8%. This is a boost from Cactus’s previous quarterly dividend of $0.14. The ex-dividend date is Monday, August 31st. Cactus’s dividend payout ratio (DPR) is presently 51.28%.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the stock. Citigroup cut shares of Cactus from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $67.00 to $75.00 in a research note on Thursday, August 20th. Piper Sandler lifted their price target on shares of Cactus from $72.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Wall Street Zen raised Cactus from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Stifel Nicolaus increased their price objective on Cactus from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Barclays raised their price objective on Cactus from $70.00 to $74.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Cactus presently has an average rating of “Hold” and a consensus target price of $66.80.
View Our Latest Analysis on WHD
Institutional Investors Weigh In On Cactus
Several hedge funds have recently made changes to their positions in WHD. Maryland State Retirement & Pension System raised its stake in Cactus by 2.1% during the 4th quarter. Maryland State Retirement & Pension System now owns 10,066 shares of the company’s stock valued at $460,000 after purchasing an additional 208 shares during the period. Covestor Ltd boosted its position in shares of Cactus by 8.6% in the fourth quarter. Covestor Ltd now owns 2,758 shares of the company’s stock worth $126,000 after buying an additional 219 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in shares of Cactus by 0.5% in 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 period. Oregon Public Employees Retirement Fund grew its holdings 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 valued at $719,000 after buying an additional 300 shares in the last quarter. Finally, California State Teachers Retirement System grew 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 valued at $2,909,000 after buying an additional 306 shares in the last quarter. Hedge funds and other 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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