Cactus, Inc. (NYSE:WHD) COO Sells $6,535,000 Worth of Stock

Cactus, Inc. (NYSE:WHD) has made headlines as the Chief Operating Officer Steven Bender sold 100,000 shares of the company's stock in a significant transaction on November 6. The shares were sold at an average price of $65.35, amounting to a total of $6,535,000. Following this sale, Bender still maintains ownership of 57,567 shares, valued at around $3,762,003.45. This action marked a 0.00% decrease in his stock position. The transaction was reported in a legal filing with the Securities and Exchange Commission (SEC).

Cactus Stock Performance

The stock of Cactus, Inc. witnessed an increase of 1.6% during trading on a recent Friday, reaching $67.22 per share. During this trading day, a total of 763,298 shares changed hands, slightly surpassing its average volume of 739,930. Currently, Cactus has a market capitalization of $5.35 billion, with a price-to-earnings ratio of 23.46 and a PEG ratio of 3.29, along with a beta of 1.95. The company's 50-day simple moving average is at $60.12, while the 200-day moving average stands at $56.25. Over the past year, Cactus's stock has seen a low of $37.58 and a high of $69.77. The company maintains a current ratio of 3.82, a quick ratio of 2.67, and a minimal debt-to-equity ratio of 0.01.

Latest Earnings Report

Cactus recently released its earnings results on October 30. The company reported earnings of $0.79 per share, exceeding analysts' expectations of $0.75 by $0.04. The total revenue for the quarter was $293.18 million, which was higher than the analysts' projections of $287.47 million. Cactus also recorded a return on equity of 20.24% along with a net margin of 16.57%. It's worth noting that during the same quarter the previous year, the firm had earnings of $0.80 per share. Year-over-year, the revenue increased by 1.8%, with predictions suggesting that Cactus will achieve earnings of $3.07 per share for the ongoing fiscal year.

Dividend Announcement from Cactus

Furthermore, Cactus has announced a quarterly dividend set to be distributed on December 19. Shareholders on record by December 2 will receive a dividend of $0.13. The ex-dividend date is also December 2, marking an annualized dividend of $0.52 and a yield of 0.77%. Notably, Cactus's dividend payout ratio is 18.44%.

Institutional Investors and Cactus

In recent months, various institutional investors and hedge funds have been actively trading shares of Cactus. For instance, SG Americas Securities LLC entered a new position in the first quarter valued at about $115,000. Meanwhile, Susquehanna Fundamental Investments LLC acquired stakes worth around $1,423,000 during the same period. Sei Investments Co. increased its holding by 13.2% in the first quarter, and Russell Investments Group Ltd. amplified its stake by an impressive 330.4%. Collectively, hedge funds and other institutional investors currently own approximately 85.11% of Cactus's stock.

Analyst Ratings and Expectations

Wall Street analysts have had mixed sentiments about Cactus's performance. Stifel Nicolaus downgraded its price target for the stock from $69.00 to $67.00 while maintaining a "buy" rating. Conversely, Bank of America raised its price target from $44.00 to $48.00, giving it an "underperform" rating. Barclays adjusted its rating from "overweight" to "equal weight" setting a target price at $61.00. Furthermore, Piper Sandler set its price target at $54.00 with a "neutral" rating. Presently, one analyst has rated the stock as a sell, four analysts have issued hold ratings, and two have recommended buying the stock, which results in an average rating of "Hold" and a consensus price target of $56.40.

About Cactus, Inc.

Cactus, Inc. operates internationally, designing, manufacturing, selling, and leasing pressure control equipment and spoolable pipes. The company's operations are divided into two core segments: Pressure Control and Spoolable Technologies. The Pressure Control segment focuses on the sales and rentals of wellhead and various pressure control equipment, marketed under the Cactus Wellhead brand through a network of service centers.

Cactus, Stock, Sale, Dividend, Earnings