Cactus (NYSE:WHD) Director Sells $678,840.00 in Stock

Cactus, Inc. (NYSE:WHD) Director Michael Mcgovern sold 12,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $56.57, for a total transaction of $678,840.00. Following the transaction, the director directly owned 15,990 shares of the company’s stock, valued at approximately $904,554.30. This trade represents a 42.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Cactus Stock Performance

Shares of WHD traded up $1.67 during midday trading on Thursday, hitting $57.74. 722,579 shares of the stock traded hands, compared to its average volume of 981,763. Cactus, Inc. has a 1-year low of $33.20 and a 1-year high of $59.25. The firm has a market capitalization of $4.61 billion, a PE ratio of 54.47, a price-to-earnings-growth ratio of 2.18 and a beta of 1.37. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.71 and a current ratio of 2.61. The business’s 50 day moving average price is $51.27 and its two-hundred day moving average price is $49.65.

Cactus (NYSE:WHD) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. Cactus had a net margin of 6.17% and a return on equity of 15.43%. The company had revenue of $388.35 million during the quarter, compared to the consensus estimate of $380.42 million. During the same quarter in the previous year, the company posted $0.73 earnings per share. The company’s revenue for the quarter was up 38.5% compared to the same quarter last year. Equities research analysts predict that Cactus, Inc. will post 2.84 EPS for the current fiscal year.

Cactus Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.56 annualized dividend and a yield of 1.0%. Cactus’s dividend payout ratio (DPR) is presently 52.83%.

Analyst Ratings Changes

Several equities analysts have commented on WHD shares. Citigroup raised their target price on shares of Cactus from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Monday. Wall Street Zen cut shares of Cactus from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Barclays raised their target price on shares of Cactus from $62.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday. Zacks Research cut shares of Cactus from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Cactus in a research note on Friday, March 27th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Cactus currently has a consensus rating of “Moderate Buy” and an average price target of $58.00.

Institutional Investors Weigh In On Cactus

Hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its holdings in Cactus by 67.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock worth $25,000 after buying an additional 259 shares during the period. Aster Capital Management DIFC Ltd raised its holdings in Cactus by 73.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company’s stock worth $34,000 after buying an additional 314 shares during the period. Johnson Financial Group Inc. acquired a new stake in Cactus during the 3rd quarter worth about $33,000. Advisors Asset Management Inc. raised its holdings in Cactus by 113.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock worth $47,000 after buying an additional 543 shares during the period. Finally, Huntington National Bank raised its holdings in Cactus by 55.4% during the 3rd quarter. Huntington National Bank now owns 1,094 shares of the company’s stock worth $43,000 after buying an additional 390 shares during the period. 85.11% of the stock is currently owned by institutional investors.

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.