Joel Bender Sells 100,000 Shares of Cactus (NYSE:WHD) Stock

Cactus, Inc. (NYSE:WHD) President Joel Bender sold 100,000 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $70.37, for a total value of $7,037,000.00. Following 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 Securities & Exchange Commission, which is available at 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 Stock Performance

Cactus stock traded up $1.51 during trading hours on Wednesday, reaching $72.20. 713,466 shares of the stock were exchanged, compared to its average volume of 898,046. Cactus, Inc. has a 52-week low of $33.20 and a 52-week high of $74.07. The stock has a market cap of $5.79 billion, a P/E ratio of 61.71, a P/E/G ratio of 2.48 and a beta of 1.36. 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’s 50 day moving average is $60.68 and its 200 day moving average is $56.55.

Cactus (NYSE:WHD) last issued its earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.29. The business had revenue of $449.53 million for the quarter, compared to the consensus estimate of $400.82 million. Cactus had a net margin of 6.01% and a return on equity of 16.66%. The business’s quarterly revenue was up 64.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 earnings per share. Analysts predict that Cactus, Inc. will post 3.12 EPS for the current fiscal year.

Cactus Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 31st will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, August 31st. This is a positive change from Cactus’s previous quarterly dividend of $0.14. Cactus’s payout ratio is presently 51.28%.

Analysts Set New Price Targets

A number of analysts recently weighed in on WHD shares. Piper Sandler lifted their price target on Cactus from $72.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Wall Street Zen raised shares of Cactus from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Citigroup cut shares of Cactus from a “buy” rating to a “neutral” rating and raised their price objective for the company from $67.00 to $75.00 in a research note on Thursday, August 20th. Barclays upped their target price on shares of Cactus from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Finally, Stifel Nicolaus lifted their price target 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. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $66.80.

Institutional Investors Weigh In On Cactus

Large investors have recently added to or reduced their stakes in the business. Maryland State Retirement & Pension System increased its holdings 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 acquiring an additional 208 shares in the last quarter. Covestor Ltd increased its stake in shares of Cactus by 8.6% during the 4th quarter. Covestor Ltd now owns 2,758 shares of the company’s stock worth $126,000 after purchasing an additional 219 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Cactus by 0.5% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 57,938 shares of the company’s stock worth $2,532,000 after purchasing an additional 269 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Cactus by 1.9% in the 4th 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 lifted its stake in Cactus by 0.5% in the 2nd 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. 85.11% of the stock is owned by institutional investors and hedge funds.

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.