Cactus, Inc. $WHD Shares Sold by Vest Financial LLC

Vest Financial LLC cut its position in Cactus, Inc. (NYSE:WHD) by 33.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,609 shares of the company’s stock after selling 39,102 shares during the quarter. Vest Financial LLC owned 0.10% of Cactus worth $4,891,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in WHD. First Trust Advisors LP raised its position in Cactus by 13.7% during the first quarter. First Trust Advisors LP now owns 2,090,619 shares of the company’s stock valued at $99,033,000 after purchasing an additional 251,283 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Cactus by 3.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,821,142 shares of the company’s stock valued at $86,266,000 after purchasing an additional 53,576 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Cactus by 202.3% in the 1st quarter. Jennison Associates LLC now owns 1,713,701 shares of the company’s stock valued at $81,178,000 after purchasing an additional 1,146,766 shares in the last quarter. Wasatch Advisors LP increased its stake in shares of Cactus by 79.0% in the 1st quarter. Wasatch Advisors LP now owns 1,349,420 shares of the company’s stock valued at $63,922,000 after purchasing an additional 595,562 shares during the last quarter. Finally, Deprince Race & Zollo Inc. bought a new position in shares of Cactus in the 1st quarter valued at $41,895,000. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WHD has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Cactus in a research report on Tuesday, September 8th. Stifel Nicolaus increased their target price on shares of Cactus from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Citigroup reduced their price target on shares of Cactus from $75.00 to $73.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 30th. Wall Street Zen upgraded shares of Cactus from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Piper Sandler lifted their price target on shares of Cactus from $72.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $66.60.

Cactus Trading Up 4.6%

Shares of WHD stock opened at $63.14 on Friday. Cactus, Inc. has a twelve month low of $38.89 and a twelve month high of $74.07. The stock’s fifty day simple moving average is $66.59 and its 200 day simple moving average is $60.39. The company has a quick ratio of 1.81, a current ratio of 2.59 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $5.06 billion, a P/E ratio of 53.96, a P/E/G ratio of 1.61 and a beta of 1.42.

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

Cactus Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Monday, August 31st were given a dividend of $0.15 per share. The ex-dividend date was Monday, August 31st. This represents a $0.60 annualized dividend and a yield of 1.0%. This is a boost from Cactus’s previous quarterly dividend of $0.14. Cactus’s dividend payout ratio is 51.28%.

Insider Buying and Selling at Cactus

In other news, CEO Stephen Tadlock sold 38,455 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $63.80, for a total transaction of $2,453,429.00. Following the completion of the transaction, the chief executive officer owned 43,178 shares of the company’s stock, valued at approximately $2,754,756.40. This trade represents a 47.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott Bender sold 100,000 shares of the firm’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $61.97, for a total transaction of $6,197,000.00. Following the transaction, the chief executive officer directly owned 120,527 shares of the company’s stock, valued at $7,469,058.19. The trade was a 45.35% 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. Over the last 90 days, insiders sold 463,455 shares of company stock valued at $29,495,764. 12.91% of the stock is owned by insiders.

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.