Boston Trust Walden Corp Sells 50,558 Shares of Cactus, Inc. $WHD

Boston Trust Walden Corp lessened its stake in Cactus, Inc. (NYSE:WHD) by 6.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 760,064 shares of the company’s stock after selling 50,558 shares during the quarter. Boston Trust Walden Corp’s holdings in Cactus were worth $47,291,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new stake in shares of Cactus during the 2nd quarter valued at $35,000. Signaturefd LLC lifted its holdings in shares of Cactus by 56.8% during the 3rd quarter. Signaturefd LLC now owns 665 shares of the company’s stock worth $41,000 after acquiring an additional 241 shares during the last quarter. Harbor Investment Advisory LLC bought a new stake in shares of Cactus during the 2nd quarter worth $58,000. Parkside Financial Bank & Trust grew its position in Cactus by 474.5% in the second quarter. Parkside Financial Bank & Trust now owns 1,465 shares of the company’s stock worth $75,000 after acquiring an additional 1,210 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Cactus by 29.5% in the second quarter. GAMMA Investing LLC now owns 2,532 shares of the company’s stock worth $130,000 after acquiring an additional 577 shares in the last quarter. Institutional investors own 85.11% of the company’s stock.

Cactus Price Performance

Shares of Cactus stock opened at $58.08 on Thursday. Cactus, Inc. has a 52-week low of $39.16 and a 52-week high of $74.07. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of 40.33, a price-to-earnings-growth ratio of 1.58 and a beta of 1.38. The company has a fifty day moving average of $65.45 and a 200-day moving average of $58.47. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 3.06.

Cactus (NYSE:WHD) last released its earnings results on Wednesday, October 28th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.77 by $0.19. The company had revenue of $430.89 million for the quarter, compared to analyst estimates of $437.94 million. Cactus had a net margin of 6.69% and a return on equity of 17.93%. The firm’s quarterly revenue was up 63.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.67 EPS. Equities research analysts expect that Cactus, Inc. will post 3.22 EPS for the current year.

Cactus Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Monday, November 30th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.0%. The ex-dividend date is Monday, November 30th. Cactus’s dividend payout ratio is presently 41.67%.

Insider Buying and Selling at Cactus

In other news, CEO Steven Bender sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $67.65, for a total transaction of $1,691,250.00. Following the transaction, the chief executive officer directly owned 99,241 shares of the company’s stock, valued at approximately $6,713,653.65. This trade represents a 20.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Joel Bender sold 100,000 shares of Cactus stock in a transaction dated 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 completion of the transaction, the president owned 41,519 shares in the company, valued at approximately $2,921,692.03. This represents a 70.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 325,000 shares of company stock worth $21,316,250 over the last three months. Company insiders own 12.91% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on WHD. Stifel Nicolaus increased their target price on Cactus from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Barclays upped their price objective on Cactus from $74.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, October 15th. Piper Sandler increased their price objective on Cactus from $75.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday. Citigroup raised their price objective on Cactus from $73.00 to $74.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Cactus in a research report on Tuesday, September 8th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $74.75.

Cactus Company Profile

Cactus, Inc (NYSE: WHD) designs, manufactures, sells and rents wellhead and pressure-control equipment used in onshore oil and gas drilling and production. Its products are designed to help operators manage pressure and control access to wells during drilling, completion and production activities.

The company’s offerings include wellhead systems, frac stacks, zipper manifolds and other pressure-control equipment. Cactus also provides field services, including equipment installation, maintenance and support, as well as rental services for selected products.