Cactus, Inc. $WHD Position Lowered by Leeward Investments LLC MA

Leeward Investments LLC MA trimmed its position in Cactus, Inc. (NYSE:WHD) by 5.2% in the third quarter, Holdings Channel reports. The fund owned 344,061 shares of the company’s stock after selling 18,992 shares during the quarter. Cactus accounts for 1.1% of Leeward Investments LLC MA’s portfolio, making the stock its 26th largest holding. Leeward Investments LLC MA’s holdings in Cactus were worth $21,407,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of WHD. First Trust Advisors LP grew its position in Cactus by 13.7% during the 1st 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 during the last quarter. Dimensional Fund Advisors LP increased its holdings in Cactus by 3.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,821,142 shares of the company’s stock worth $86,266,000 after purchasing an additional 53,576 shares in the last quarter. Jennison Associates LLC increased its holdings in Cactus by 202.3% in the 1st quarter. Jennison Associates LLC now owns 1,713,701 shares of the company’s stock worth $81,178,000 after purchasing an additional 1,146,766 shares in the last quarter. Deprince Race & Zollo Inc. bought a new position in Cactus in the first quarter valued at about $41,895,000. Finally, Encompass Capital Advisors LLC bought a new position in Cactus in the first quarter valued at about $36,262,000. Institutional investors and hedge funds own 85.11% of the company’s stock.

Insider Buying and Selling

In other news, CEO Scott Bender sold 100,000 shares of the firm’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $61.97, for a total transaction of $6,197,000.00. Following the completion of the transaction, the chief executive officer directly owned 120,527 shares in the company, valued at $7,469,058.19. This trade represents a 45.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steven Bender sold 25,000 shares of the firm’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 owned 99,241 shares of the company’s stock, valued at $6,713,653.65. This trade represents a 20.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 450,155 shares of company stock worth $28,763,333. Corporate insiders own 12.91% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Cactus in a research note on Tuesday, September 8th. Piper Sandler boosted their price target on Cactus from $72.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Wall Street Zen raised Cactus from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Barclays raised their price objective on shares of Cactus from $74.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, October 15th. Finally, Citigroup cut their target price 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 equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Cactus currently has a consensus rating of “Hold” and an average price target of $66.60.

Cactus Stock Performance

Shares of Cactus stock opened at $63.14 on Monday. The company has a quick ratio of 1.81, a current ratio of 2.59 and a debt-to-equity ratio of 0.01. Cactus, Inc. has a twelve month low of $38.89 and a twelve month high of $74.07. The stock has a market cap of $5.06 billion, a price-to-earnings ratio of 53.96, a P/E/G ratio of 1.69 and a beta of 1.42. The company’s fifty day moving average is $66.59 and its 200 day moving average is $60.47.

Cactus (NYSE:WHD) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.29. The business had revenue of $449.53 million during the quarter, compared to the consensus estimate of $400.82 million. Cactus had a return on equity of 16.66% and a net margin of 6.01%. Cactus’s quarterly revenue was up 64.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 earnings per share. Sell-side 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. Shareholders 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. The ex-dividend date was Monday, August 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.0%. Cactus’s dividend payout ratio is presently 51.28%.

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.