Cactus (NYSE:WHD) Earns Hold Rating from Benchmark

Benchmark restated their hold rating on shares of Cactus (NYSE:WHD) in a report issued on Monday morning, Benzinga reports.

Separately, Bank of America raised their price objective on shares of Cactus from $40.00 to $43.00 and gave the company an underperform rating in a research note on Monday, April 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and an average price target of $55.14.

Cactus Stock Up 1.1 %

Cactus stock opened at $51.11 on Monday. The firm has a market capitalization of $4.06 billion, a P/E ratio of 20.36, a P/E/G ratio of 9.11 and a beta of 1.95. The company has a 50-day simple moving average of $49.65 and a 200-day simple moving average of $45.63. Cactus has a one year low of $31.36 and a one year high of $57.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.17 and a current ratio of 3.24.

Cactus (NYSE:WHD) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.08. The company had revenue of $274.12 million during the quarter, compared to analysts’ expectations of $270.70 million. Cactus had a return on equity of 22.46% and a net margin of 14.46%. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.64 earnings per share. As a group, equities analysts expect that Cactus will post 2.87 earnings per share for the current year.

Cactus Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Tuesday, May 28th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, May 24th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.94%. Cactus’s dividend payout ratio (DPR) is presently 19.12%.

Insider Transactions at Cactus

In related news, President Joel Bender sold 358,458 shares of Cactus stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $51.10, for a total value of $18,317,203.80. Following the transaction, the president now owns 156,586 shares of the company’s stock, valued at approximately $8,001,544.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Cactus news, President Joel Bender sold 358,458 shares of Cactus stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $51.10, for a total transaction of $18,317,203.80. Following the transaction, the president now directly owns 156,586 shares in the company, valued at approximately $8,001,544.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP William D. Marsh sold 1,700 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $46.20, for a total value of $78,540.00. Following the completion of the sale, the executive vice president now owns 3,911 shares of the company’s stock, valued at approximately $180,688.20. The disclosure for this sale can be found here. Insiders sold a total of 681,759 shares of company stock valued at $34,599,109 in the last three months. 16.84% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC grew its position in Cactus by 181.5% in the 3rd quarter. FMR LLC now owns 1,898,398 shares of the company’s stock worth $95,319,000 after purchasing an additional 1,224,079 shares during the last quarter. First Trust Advisors LP grew its position in Cactus by 595.4% during the fourth quarter. First Trust Advisors LP now owns 683,051 shares of the company’s stock worth $31,011,000 after buying an additional 584,831 shares in the last quarter. Public Employees Retirement Association of Colorado increased its stake in Cactus by 3,350.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 513,417 shares of the company’s stock valued at $23,309,000 after acquiring an additional 498,536 shares during the period. Norges Bank bought a new position in Cactus during the fourth quarter valued at about $20,204,000. Finally, Wasatch Advisors LP raised its holdings in Cactus by 39.1% in the 1st quarter. Wasatch Advisors LP now owns 1,336,006 shares of the company’s stock valued at $66,921,000 after acquiring an additional 375,829 shares in the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

About Cactus

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.