Cactus, Inc. $WHD Position Cut by Freedom Day Solutions LLC

Freedom Day Solutions LLC lowered its holdings in Cactus, Inc. (NYSE:WHD) by 25.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,051 shares of the company’s stock after selling 10,278 shares during the quarter. Freedom Day Solutions LLC’s holdings in Cactus were worth $1,870,000 as of its most recent filing with the SEC.

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

Insider Transactions at Cactus

In other news, CEO Stephen Tadlock sold 38,455 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $63.80, for a total transaction of $2,453,429.00. Following the completion of the sale, the chief executive officer owned 43,178 shares in the company, valued at approximately $2,754,756.40. The trade was a 47.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven Bender sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $67.65, for a total transaction of $1,691,250.00. Following the completion of the transaction, the chief executive officer owned 99,241 shares in the company, valued at $6,713,653.65. The trade was a 20.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 463,455 shares of company stock worth $29,495,764 in the last three months. 12.91% of the stock is currently owned by insiders.

Cactus Stock Performance

Cactus stock opened at $61.68 on Tuesday. Cactus, Inc. has a 52 week low of $36.80 and a 52 week high of $74.07. The stock has a fifty day moving average price of $67.39 and a 200 day moving average price of $60.06. The company has a current ratio of 2.59, a quick ratio of 1.81 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $4.95 billion, a P/E ratio of 52.72, a PEG ratio of 1.65 and a beta of 1.42.

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. The firm had revenue of $449.53 million during the quarter, compared to the consensus estimate of $400.82 million. Cactus had a net margin of 6.01% and a return on equity of 16.66%. Cactus’s revenue was up 64.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.66 earnings per share. Equities research analysts anticipate that Cactus, Inc. will post 3.08 earnings per share for the current year.

Cactus Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Monday, August 31st were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.0%. This is a boost from Cactus’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Monday, August 31st. Cactus’s dividend payout ratio (DPR) is presently 51.28%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on WHD shares. Barclays upped their price target on Cactus from $74.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday. Weiss Ratings reiterated a “hold (c)” rating on shares of Cactus in a research report on Tuesday, September 8th. Wall Street Zen raised Cactus from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Stifel Nicolaus lifted their target price on shares of Cactus from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Citigroup lowered their price target on shares of Cactus from $75.00 to $73.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 30th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Cactus presently has a consensus rating of “Hold” and an average price target of $66.60.

Cactus 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.