Boston Trust Walden Corp Sells 100,230 Shares of Cactus, Inc. $WHD

Key Points

• Boston Trust Walden Corp cut its Cactus position by 9.6% in the first quarter, selling 100,230 shares and ending with 938,486 shares valued at about $44.5 million.
• Cactus reported stronger-than-expected quarterly results, posting EPS of $0.70 versus $0.65 expected and revenue of $388.35 million, up 38.5% year over year.
• Analysts remain moderately constructive on WHD, with several price-target increases and a consensus rating of “Moderate Buy” alongside an average target of $63.40.

Boston Trust Walden Corp reduced its holdings in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 9.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 938,486 shares of the company's stock after selling 100,230 shares during the period. Boston Trust Walden Corp owned 1.18% of Cactus worth $44,456,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake in Cactus by 67.6% during the third quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company's stock worth $25,000 after purchasing an additional 259 shares during the period. Johnson Financial Group Inc. acquired a new position in Cactus in the third quarter valued at approximately $33,000. Aster Capital Management DIFC Ltd lifted its stake in Cactus by 73.4% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company's stock valued at $34,000 after buying an additional 314 shares during the period. Huntington National Bank boosted its holdings in shares of Cactus by 55.4% during the 3rd quarter. Huntington National Bank now owns 1,094 shares of the company's stock worth $43,000 after buying an additional 390 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Cactus by 113.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company's stock worth $47,000 after buying an additional 543 shares in the last quarter. 85.11% of the stock is owned by institutional investors.

Cactus Stock Up 3.3%

Cactus stock opened at $50.38 on Friday. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of 47.53, a price-to-earnings-growth ratio of 1.91 and a beta of 1.38. The firm's fifty day moving average price is $56.69 and its two-hundred day moving average price is $53.24. Cactus, Inc. has a 1-year low of $33.20 and a 1-year high of $64.30. The company has a current ratio of 2.61, a quick ratio of 1.71 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.05. The company had revenue of $388.35 million for the quarter, compared to analyst estimates of $380.42 million. Cactus had a net margin of 6.17% and a return on equity of 15.43%. The firm's revenue was up 38.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.73 EPS. On average, equities research analysts predict that Cactus, Inc. will post 2.88 earnings per share for the current fiscal year.

Cactus Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 1st were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. Cactus's payout ratio is presently 52.83%.

Insider Buying and Selling at Cactus

In other Cactus news, Director Alan Semple sold 10,206 shares of the firm's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $56.62, for a total transaction of $577,863.72. Following the transaction, the director directly owned 29,444 shares in the company, valued at approximately $1,667,119.28. This trade represents a 25.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Y. Mcgovern sold 12,000 shares of Cactus stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $56.57, for a total transaction of $678,840.00. Following the transaction, the director directly owned 15,990 shares in the company, valued at $904,554.30. This represents a 42.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 12.91% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on WHD shares. Stifel Nicolaus reiterated a "buy" rating and set a $68.00 target price (up from $66.00) on shares of Cactus in a research report on Tuesday, June 16th. Weiss Ratings upgraded shares of Cactus from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, June 11th. Wall Street Zen downgraded shares of Cactus from a "buy" rating to a "hold" rating in a research note on Saturday, March 21st. Barclays upped their price objective on shares of Cactus from $62.00 to $70.00 and gave the company an "overweight" rating in a report on Monday, May 11th. Finally, Piper Sandler increased their price objective on shares of Cactus from $69.00 to $72.00 and gave the stock an "overweight" rating in a research report on Monday, May 18th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $63.40.

Cactus Profile

Cactus, Inc, together with its subsidiaries, designs, manufactures, sells, and leases pressure control and spoolable pipes in the United States, Australia, Canada, the Middle East, and internationally. It operates through two segments, Pressure Control and Spoolable Technologies. The Pressure Control segment designs, manufactures, sells, and rents a range of wellhead and pressure control equipment under the Cactus Wellhead brand name through service centers. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.

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