Cactus, Inc. (NYSE:WHD) Shares Purchased by Truist Financial Corp

Truist Financial Corp boosted its position in Cactus, Inc. (NYSE:WHD) by 6.3% during the second quarter, Holdings Channel.com reports. The fund owned 6,808 shares of the company’s stock after purchasing an additional 401 shares during the quarter. Truist Financial Corp’s holdings in Cactus were worth $288,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its holdings in Cactus by 59.9% in the third quarter. Public Employees Retirement System of Ohio now owns 678 shares of the company’s stock valued at $26,000 after acquiring an additional 254 shares during the last quarter. CWM LLC boosted its holdings in Cactus by 8.5% in the first quarter. CWM LLC now owns 3,506 shares of the company’s stock valued at $145,000 after acquiring an additional 274 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Cactus by 6.4% in the first quarter. Ameritas Investment Partners Inc. now owns 5,022 shares of the company’s stock valued at $207,000 after acquiring an additional 304 shares during the last quarter. California State Teachers Retirement System boosted its holdings in Cactus by 0.4% in the first quarter. California State Teachers Retirement System now owns 76,609 shares of the company’s stock valued at $3,159,000 after acquiring an additional 333 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of Cactus by 2.9% during the first quarter. Arizona State Retirement System now owns 17,593 shares of the company’s stock worth $725,000 after purchasing an additional 489 shares in the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Bank of America cut Cactus from a “neutral” rating to an “underperform” rating and boosted their price objective for the stock from $46.00 to $47.00 in a research note on Monday, October 16th. JPMorgan Chase & Co. assumed coverage on Cactus in a research note on Wednesday, September 13th. They set a “neutral” rating and a $60.00 price objective on the stock. Benchmark restated a “buy” rating and set a $60.00 price objective on shares of Cactus in a research note on Tuesday, August 8th. Citigroup boosted their price objective on Cactus from $40.00 to $52.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 18th. Finally, Stifel Nicolaus boosted their price objective on Cactus from $61.00 to $68.00 in a research note on Thursday, August 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $58.00.

Insider Transactions at Cactus

In related news, Director John A. Odonnell sold 27,508 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $50.95, for a total value of $1,401,532.60. Following the completion of the sale, the director now directly owns 20,313 shares of the company’s stock, valued at $1,034,947.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director John A. Odonnell sold 27,508 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $50.95, for a total value of $1,401,532.60. Following the completion of the sale, the director now directly owns 20,313 shares of the company’s stock, valued at $1,034,947.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP William D. Marsh sold 2,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $55.50, for a total value of $111,000.00. Following the completion of the sale, the vice president now directly owns 1,700 shares of the company’s stock, valued at $94,350. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 298,870 shares of company stock valued at $16,514,803. 17.71% of the stock is currently owned by insiders.

Cactus Stock Up 1.9 %

Shares of NYSE WHD opened at $44.32 on Monday. Cactus, Inc. has a 1 year low of $31.36 and a 1 year high of $58.30. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 1.65 and a beta of 2.03. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.60 and a current ratio of 2.76. The stock’s 50-day simple moving average is $49.62 and its 200-day simple moving average is $45.61.

Cactus (NYSE:WHD) last announced its earnings results on Wednesday, November 8th. The company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.01). Cactus had a return on equity of 25.02% and a net margin of 14.97%. The business had revenue of $287.80 million for the quarter, compared to analysts’ expectations of $288.20 million. During the same period in the previous year, the firm posted $0.52 earnings per share. The firm’s revenue was up 56.0% compared to the same quarter last year. As a group, equities analysts anticipate that Cactus, Inc. will post 2.87 earnings per share for the current fiscal year.

Cactus Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Monday, November 27th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, November 24th. Cactus’s payout ratio is 20.78%.

Cactus Company Profile

Cactus, Inc designs, manufactures, and sells a range of wellheads and pressure control equipment in the United States, Australia, China, and the Kingdom of Saudi Arabia. The company's principal products include Cactus SafeDrill wellhead systems, Cactus SafeLink monobore, SafeClamp, and SafeInject systems, as well as frac stacks, zipper manifolds, and production trees.