Cactus, Inc. $WHD Stock Position Lowered by Boston Trust Walden Corp

Key Points

• Boston Trust Walden Corp reduced its Cactus position by 6.2% in the third quarter, selling 50,558 shares; it retained 760,064 shares, worth about $47.3 million.
• Cactus beat quarterly EPS estimates with $0.96 per share versus $0.77 expected, while revenue of $430.9 million missed forecasts. Revenue rose 63.2% year over year.
• Company insiders sold 325,000 shares worth about $21.3 million over the past quarter. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $74.75.

Boston Trust Walden Corp cut its holdings in Cactus, Inc. (NYSE:WHD - Free Report) by 6.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 760,064 shares of the company's stock after selling 50,558 shares during the period. Boston Trust Walden Corp owned 0.95% of Cactus worth $47,291,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. First Trust Advisors LP lifted its position in shares of Cactus by 13.7% during the first quarter. First Trust Advisors LP now owns 2,090,619 shares of the company's stock worth $99,033,000 after acquiring 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 first quarter. Dimensional Fund Advisors LP now owns 1,821,142 shares of the company's stock worth $86,266,000 after acquiring an additional 53,576 shares during the period. Jennison Associates LLC boosted its holdings in shares of Cactus by 202.3% in the first quarter. Jennison Associates LLC now owns 1,713,701 shares of the company's stock worth $81,178,000 after acquiring an additional 1,146,766 shares during the period. Encompass Capital Advisors LLC purchased a new position in shares of Cactus in the first quarter valued at $36,262,000. Finally, Bank of America Corp DE grew its position in shares of Cactus by 34.8% in the first quarter. Bank of America Corp DE now owns 659,889 shares of the company's stock valued at $31,259,000 after purchasing an additional 170,534 shares in the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cactus

In other Cactus news, CEO Steven Bender sold 25,000 shares of the company's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $67.65, for a total value of $1,691,250.00. Following the transaction, the chief executive officer directly owned 99,241 shares in the company, valued at $6,713,653.65. This represents a 20.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Scott Bender sold 100,000 shares of the company's stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $63.91, for a total value of $6,391,000.00. Following the completion of the transaction, the chief executive officer owned 120,527 shares in the company, valued at $7,702,880.57. This represents a 45.35% decrease in their ownership of the stock. 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 quarter, insiders sold 325,000 shares of company stock valued at $21,316,250. Company insiders own 12.91% of the company's stock.

Cactus Stock Down 6.4%

Shares of NYSE:WHD opened at $58.08 on Thursday. The firm has a fifty day moving average price of $65.45 and a two-hundred day moving average price of $58.47. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.06 and a quick ratio of 2.10. Cactus, Inc. has a one year low of $39.16 and a one year high of $74.07. The company has a market cap of $4.66 billion, a price-to-earnings ratio of 40.33, a PEG ratio of 1.58 and a beta of 1.38.

Cactus (NYSE:WHD - Get Free Report) 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. The firm had revenue of $430.89 million during the quarter, compared to analyst estimates of $437.94 million. Cactus had a net margin of 6.69% and a return on equity of 17.93%. The business's revenue for the quarter was up 63.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.67 EPS. Analysts anticipate that Cactus, Inc. will post 3.22 EPS for the current fiscal year.

Cactus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Monday, November 30th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, November 30th. This represents a $0.60 annualized dividend and a yield of 1.0%. Cactus's dividend payout ratio (DPR) is currently 41.67%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WHD. Weiss Ratings reiterated a "hold (c)" rating on shares of Cactus in a research note on Tuesday, September 8th. Wall Street Zen downgraded Cactus from a "buy" rating to a "hold" rating in a research note on Saturday, October 31st. Piper Sandler lifted their target price on Cactus from $75.00 to $78.00 and gave the company an "overweight" rating in a report on Tuesday. Citigroup upped their price target on Cactus from $73.00 to $74.00 and gave the company a "neutral" rating in a research report on Tuesday. Finally, Barclays increased their price target on shares of Cactus from $74.00 to $75.00 and gave the stock an "overweight" rating in a report on Thursday, October 15th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $74.75.

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.

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