Cactus (NYSE:WHD) Director Michael Mcgovern Sells 12,000 Shares

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

Cactus Trading Up 3.0%

NYSE WHD traded up $1.67 on Thursday, hitting $57.74. 722,579 shares of the company were exchanged, compared to its average volume of 981,763. The company’s 50 day moving average price is $51.27 and its 200-day moving average price is $49.65. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.61 and a quick ratio of 1.71. The firm has a market capitalization of $4.61 billion, a P/E ratio of 54.47, a price-to-earnings-growth ratio of 2.18 and a beta of 1.37. Cactus, Inc. has a twelve month low of $33.20 and a twelve month high of $59.25.

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

Cactus Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Monday, June 1st will be issued a $0.14 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.0%. Cactus’s dividend payout ratio is currently 52.83%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on WHD shares. Zacks Research downgraded Cactus from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Wall Street Zen downgraded Cactus from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Citigroup upped their target price on Cactus from $63.00 to $65.00 and gave the company a “buy” rating in a report on Monday. Piper Sandler started coverage on Cactus in a report on Tuesday, February 24th. They issued an “overweight” rating and a $73.00 target price on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cactus in a report on Friday, March 27th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Institutional Investors Weigh In On Cactus

Large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake in shares of Cactus by 67.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock valued at $25,000 after buying an additional 259 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Cactus in the 3rd quarter valued at approximately $33,000. Aster Capital Management DIFC Ltd grew its stake in shares of Cactus by 73.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company’s stock valued at $34,000 after buying an additional 314 shares in the last quarter. Huntington National Bank grew its stake in shares of Cactus by 55.4% in the 3rd quarter. Huntington National Bank now owns 1,094 shares of the company’s stock valued at $43,000 after buying an additional 390 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in shares of Cactus by 113.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock valued at $47,000 after buying an additional 543 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.