Cactus, Inc. $WHD Stock Sold by Fort Washington Investment Advisors Inc. OH

Key Points

• Fort Washington Investment Advisors reduced its Cactus position by 6.7% in the third quarter, selling 25,435 shares and retaining 354,292 shares valued at approximately $22 million. Institutional investors collectively own 85.11% of the company.
• Analyst sentiment remains mixed, with three Buy ratings and four Holds, producing a consensus rating of Hold and an average price target of $66.60.
• Cactus reported stronger-than-expected quarterly results, including $0.93 in earnings per share versus a $0.64 estimate and 64.3% year-over-year revenue growth. The company also increased its quarterly dividend to $0.15 per share.

Fort Washington Investment Advisors Inc. OH reduced its position in Cactus, Inc. (NYSE:WHD - Free Report) by 6.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 354,292 shares of the company's stock after selling 25,435 shares during the period. Fort Washington Investment Advisors Inc. OH owned 0.44% of Cactus worth $22,044,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Sax Wealth Advisors LLC bought a new position in shares of Cactus during the 3rd quarter valued at approximately $277,000. GAMMA Investing LLC grew its holdings in shares of Cactus by 45.3% in the third quarter. GAMMA Investing LLC now owns 3,678 shares of the company's stock valued at $229,000 after purchasing an additional 1,146 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Cactus by 134.4% in the third quarter. Farther Finance Advisors LLC now owns 3,448 shares of the company's stock valued at $215,000 after purchasing an additional 1,977 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in Cactus in the second quarter worth $250,000. Finally, Squarepoint Ops LLC increased its position in Cactus by 104.5% in the second 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. Hedge funds and other institutional investors own 85.11% of the company's stock.

Wall Street Analysts Forecast Growth

WHD has been the subject of several research reports. Stifel Nicolaus increased their price objective on shares of Cactus from $68.00 to $72.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Citigroup dropped their price objective on shares of Cactus from $75.00 to $73.00 and set a "neutral" rating for the company in a research note on Wednesday, September 30th. Wall Street Zen raised shares of Cactus from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Piper Sandler boosted their target price on shares of Cactus from $72.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Cactus in a research report on Tuesday, September 8th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $66.60.

Cactus Price Performance

NYSE:WHD opened at $61.27 on Friday. The firm has a market capitalization of $4.91 billion, a price-to-earnings ratio of 52.36, a PEG ratio of 1.67 and a beta of 1.42. Cactus, Inc. has a 1 year low of $34.81 and a 1 year high of $74.07. The business has a 50 day simple moving average of $67.69 and a 200-day simple moving average of $59.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.59 and a quick ratio of 1.81.

Cactus (NYSE:WHD - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.93 EPS for the quarter, topping analysts' consensus estimates of $0.64 by $0.29. The firm had revenue of $449.53 million during the quarter, compared to analysts' expectations of $400.82 million. Cactus had a return on equity of 16.66% and a net margin of 6.01%. The company's quarterly revenue was up 64.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 EPS. Equities analysts forecast that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Increases Dividend

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

Insider Buying and Selling

In other Cactus news, CEO Scott Bender sold 100,000 shares of the business'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 owned 120,527 shares in the company, valued at $7,469,058.19. The trade was a 45.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steven Bender sold 25,000 shares of the business's stock in a transaction 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 transaction, the chief executive officer owned 99,241 shares in the company, valued at $6,713,653.65. This trade represents a 20.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 463,455 shares of company stock valued at $29,495,764 in the last three months. Corporate insiders own 12.91% of the company's stock.

Cactus Company Profile

Cactus, Inc is an oilfield equipment company that designs, manufactures, sells and rents wellhead and pressure control equipment for onshore oil and gas producers. Its products are used throughout the life cycle of a well, from drilling and completion to production and workover operations.

The company's offerings include conventional and automated wellheads, production trees, frac stacks, zipper manifolds and other pressure control systems. Cactus also provides equipment installation, field service, maintenance, rental and monitoring services intended to help operators improve wellsite safety, efficiency and control.

Founded in 2011 and headquartered in Houston, Texas, Cactus primarily serves oil and gas customers in North America and select international markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.