WBI (NYSE:WBI) Major Shareholder Waterbridge Resources Llc Sells 5,894,826 Shares

WBI (NYSE:WBI) major shareholder Waterbridge Resources Llc sold 5,894,826 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $30.05, for a total transaction of $177,139,521.30. Following the completion of the transaction, the insider owned 1,980,921 shares in the company, valued at $59,526,676.05. The trade was a 74.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

WBI Price Performance

WBI stock opened at $30.04 on Tuesday. The company has a 50 day moving average price of $29.35. The stock has a market cap of $3.71 billion and a PE ratio of 120.14. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.30 and a current ratio of 1.30. WBI has a 1-year low of $18.64 and a 1-year high of $36.21.

WBI Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were issued a $0.05 dividend. The ex-dividend date was Thursday, June 4th. This represents a $0.20 dividend on an annualized basis and a yield of 0.7%. WBI’s dividend payout ratio is currently 80.00%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wall Street Zen upgraded WBI from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Morgan Stanley increased their price target on WBI from $34.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. The Goldman Sachs Group raised their price objective on WBI from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Wells Fargo & Company boosted their price objective on shares of WBI from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Friday, March 13th. Finally, Barclays boosted their price objective on shares of WBI from $29.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, May 21st. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, WBI currently has a consensus rating of “Moderate Buy” and an average target price of $33.20.

WBI Company Profile

WaterBridge Infrastructure LLC is an integrated, pure-play water infrastructure company. WaterBridge Infrastructure LLC is based in HOUSTON.