Cactus (NYSE:WHD) CEO Sells $732,431.00 in Stock

Cactus, Inc. (NYSE:WHD) CEO Scott Bender sold 13,300 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $55.07, for a total value of $732,431.00. Following the sale, the chief executive officer directly owned 128,219 shares of the company’s stock, valued at approximately $7,061,020.33. This represents a 9.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cactus Stock Up 4.9%

Cactus stock opened at $65.04 on Friday. The stock has a 50 day moving average of $55.52 and a two-hundred day moving average of $54.31. Cactus, Inc. has a twelve month low of $33.20 and a twelve month high of $65.19. The stock has a market capitalization of $5.21 billion, a price-to-earnings ratio of 55.59, a PEG ratio of 2.34 and a beta of 1.38. The company has a current ratio of 2.59, a quick ratio of 1.71 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last released its earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.29. Cactus had a return on equity of 16.66% and a net margin of 6.01%.The business had revenue of $449.53 million for the quarter, compared to analyst estimates of $400.82 million. During the same quarter in the previous year, the company posted $0.66 earnings per share. The company’s revenue for the quarter was up 64.3% compared to the same quarter last year. As a group, research analysts expect that Cactus, Inc. will post 2.92 earnings per share for the current year.

Cactus Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 31st will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.60 annualized dividend and a yield of 0.9%. This is an increase from Cactus’s previous quarterly dividend of $0.14. Cactus’s dividend payout ratio is presently 47.86%.

Trending Headlines about Cactus

Here are the key news stories impacting Cactus this week:

• Positive Sentiment: Cactus reported adjusted earnings of $0.93 per share, well above the $0.64-$0.71 analyst estimates and up from $0.66 a year earlier. Revenue increased 64.3% year over year to $449.5 million, also surpassing expectations. Cactus Q2 earnings and revenue report
• Positive Sentiment: Management cited strong international demand and growth in Pressure Control and Spoolable Technologies, which helped expand earnings and backlog. The company expects Spoolable Technologies revenue to rise approximately 15%-20% in the third quarter. WHD Q2 earnings beat estimates
• Positive Sentiment: Cactus raised its quarterly dividend by 7.1%, from $0.14 to $0.15 per share, signaling confidence in cash generation and strengthening the income appeal of the stock. Cactus raises dividend after Q2 results
• Neutral Sentiment: Analyst sentiment remains generally favorable, with a consensus rating of “Moderate Buy” and recent price-target increases from Citigroup, Barclays, Stifel and Piper Sandler. However, the average target of $63.60 suggests limited upside after the recent rally.
• Negative Sentiment: Management expects Pressure Control revenue to decline about 10% in the third quarter, partially offsetting Spoolable Technologies growth and highlighting uneven performance between business segments. Cactus third-quarter segment outlook
• Negative Sentiment: CEO Scott Bender sold 13,300 shares for approximately $732,000, reducing his direct ownership by 9.4%. The transaction may create a modest sentiment overhang, although it does not change the company’s operating outlook. Cactus CEO insider sale

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Maryland State Retirement & Pension System boosted its position in shares of 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 grew 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 during the period. CANADA LIFE ASSURANCE Co increased its holdings in shares of Cactus by 0.5% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 57,938 shares of the company’s stock valued at $2,532,000 after purchasing an additional 269 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of 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 purchasing an additional 300 shares in the last quarter. Finally, California State Teachers Retirement System increased its holdings in shares of 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 purchasing an additional 306 shares in the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Analyst Ratings Changes

WHD has been the subject of several recent analyst reports. Barclays raised their target price on shares of Cactus from $62.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Weiss Ratings upgraded shares of Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Citigroup increased their price target on shares of Cactus from $65.00 to $67.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Piper Sandler raised their price objective on shares of Cactus from $72.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Finally, Stifel Nicolaus lifted their price objective on Cactus from $68.00 to $72.00 and gave the company a “buy” rating in a report on Friday. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.40.

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.