Cactus, Inc. $WHD Shares Sold by Royce & Associates LP

Royce & Associates LP cut its holdings in Cactus, Inc. (NYSE:WHD) by 15.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 471,112 shares of the company’s stock after selling 87,105 shares during the quarter. Royce & Associates LP’s holdings in Cactus were worth $29,313,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in WHD. Squarepoint Ops LLC increased its stake in shares of Cactus by 104.5% during the 2nd quarter. Squarepoint Ops LLC now owns 369,645 shares of the company’s stock worth $18,937,000 after purchasing an additional 188,864 shares during the last quarter. Energy Income Partners LLC raised its holdings in shares of Cactus by 48.4% during the 1st quarter. Energy Income Partners LLC now owns 300,759 shares of the company’s stock valued at $14,247,000 after purchasing an additional 98,124 shares in the last quarter. Morningstar Investment Management LLC bought a new position in shares of Cactus during the 1st quarter valued at $949,000. Jennison Associates LLC lifted its stake 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 during the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of Cactus by 17.4% in the 1st quarter. Bessemer Group Inc. now owns 559,901 shares of the company’s stock valued at $26,523,000 after purchasing an additional 83,080 shares during the last quarter. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cactus

In other Cactus news, President Joel Bender sold 100,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $70.37, for a total transaction of $7,037,000.00. Following the completion of the transaction, the president owned 41,519 shares of the company’s stock, valued at $2,921,692.03. The trade was a 70.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Scott Bender sold 100,000 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $63.91, for a total transaction of $6,391,000.00. Following the sale, the chief executive officer owned 120,527 shares of the company’s stock, valued at $7,702,880.57. 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. Insiders sold a total of 300,000 shares of company stock worth $19,625,000 in the last quarter. Insiders own 12.91% of the company’s stock.

Cactus Stock Performance

Cactus stock traded up $0.35 during trading hours on Friday, reaching $62.10. 326,048 shares of the company were exchanged, compared to its average volume of 709,632. Cactus, Inc. has a 12 month low of $39.16 and a 12 month high of $74.07. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average of $64.03 and a 200 day moving average of $58.65. The firm has a market cap of $4.98 billion, a price-to-earnings ratio of 43.13, a PEG ratio of 1.58 and a beta of 1.38.

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

Cactus Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Monday, November 30th will be paid a $0.15 dividend. The ex-dividend date is Monday, November 30th. This represents a $0.60 dividend on an annualized basis and a yield of 1.0%. Cactus’s dividend payout ratio (DPR) is presently 41.67%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WHD. Barclays upped their price objective on shares of Cactus from $74.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, October 15th. Wall Street Zen downgraded shares of Cactus from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Citigroup raised their target price on Cactus from $73.00 to $74.00 and gave the company a “neutral” rating in a report on Tuesday, November 3rd. Piper Sandler boosted their price target on Cactus from $75.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cactus in a research report on Tuesday, September 8th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.75.

Cactus Profile

Cactus, Inc. designs, manufactures, sells and rents wellhead and pressure-control equipment used in oil and natural gas drilling and production. Its products include wellhead systems, frac trees and other equipment that help control pressure and manage the flow of fluids at the wellsite. The company also provides field services, including equipment installation, maintenance and support. Through its Spoolable Technologies business, Cactus offers flexible, spoolable pipe products for energy and other industrial applications.