Cactus, Inc. $WHD Holdings Decreased by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its position in Cactus, Inc. (NYSE:WHD) by 44.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 13,971 shares of the company’s stock after selling 11,379 shares during the quarter. State of Alaska Department of Revenue’s holdings in Cactus were worth $868,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in WHD. Squarepoint Ops LLC boosted its stake in shares of Cactus by 104.5% during the second quarter. Squarepoint Ops LLC now owns 369,645 shares of the company’s stock valued at $18,937,000 after purchasing an additional 188,864 shares in the last quarter. Energy Income Partners LLC raised its stake in Cactus by 48.4% in the first quarter. Energy Income Partners LLC now owns 300,759 shares of the company’s stock worth $14,247,000 after buying an additional 98,124 shares in the last quarter. Morningstar Investment Management LLC bought a new position in Cactus in the first quarter worth approximately $949,000. Deprince Race & Zollo Inc. purchased a new stake in Cactus during the first quarter worth $41,895,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. lifted its holdings in Cactus by 62.3% during the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 72,920 shares of the company’s stock worth $3,454,000 after buying an additional 27,986 shares during the period. Institutional investors own 85.11% of the company’s stock.

Cactus Trading Up 2.8%

Shares of NYSE:WHD opened at $64.20 on Thursday. The business’s 50-day moving average is $67.03 and its 200 day moving average is $60.28. Cactus, Inc. has a 1 year low of $37.15 and a 1 year high of $74.07. The firm has a market capitalization of $5.15 billion, a P/E ratio of 54.88, a P/E/G ratio of 1.67 and a beta of 1.42. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.59 and a quick ratio of 1.81.

Cactus (NYSE:WHD) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.29. The company had revenue of $449.53 million during the quarter, compared to analysts’ expectations of $400.82 million. Cactus had a return on equity of 16.66% and a net margin of 6.01%. The firm’s revenue was up 64.3% compared to the same quarter last year. During the same period last year, the business posted $0.66 earnings per share. On average, research analysts predict that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Monday, August 31st were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.9%. This is an increase from Cactus’s previous quarterly dividend of $0.14. The ex-dividend date was Monday, August 31st. Cactus’s dividend payout ratio is currently 51.28%.

Insider Activity at Cactus

In related news, President Joel Bender sold 100,000 shares of Cactus stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $70.37, for a total value of $7,037,000.00. Following the completion of the sale, the president directly owned 41,519 shares in the company, valued at $2,921,692.03. This trade represents a 70.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Scott Bender sold 100,000 shares of Cactus stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $61.97, for a total transaction of $6,197,000.00. Following the completion of the sale, the chief executive officer owned 120,527 shares of the company’s stock, valued at $7,469,058.19. This trade represents a 45.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 463,455 shares of company stock worth $29,495,764. 12.91% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on WHD. Wall Street Zen raised Cactus from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Citigroup cut their price target on Cactus from $75.00 to $73.00 and set a “neutral” rating on the stock in a report on Wednesday, September 30th. Piper Sandler boosted their price target on Cactus from $72.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Stifel Nicolaus boosted their price target on Cactus from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Barclays upped their price objective on Cactus from $74.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, October 15th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Cactus currently has an average rating of “Hold” and an average target price of $66.60.

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.