Waterbridge Resources Llc Sells 5,894,826 Shares of WBI (NYSE:WBI) Stock

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

WBI Stock Down 4.6%

Shares of WBI stock opened at $28.60 on Wednesday. The firm has a market cap of $3.53 billion and a PE ratio of 114.40. The company has a 50-day moving average of $29.40. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.79. WBI has a 52-week low of $18.64 and a 52-week high of $36.21.

WBI Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.7%. The ex-dividend date was Thursday, June 4th. WBI’s dividend payout ratio (DPR) is currently 80.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on WBI shares. Wall Street Zen upgraded WBI from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. The Goldman Sachs Group lifted their target price on shares of WBI from $32.00 to $36.00 and gave the company a “buy” rating in a report on Friday, May 29th. Wells Fargo & Company boosted their target price on shares of WBI from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Friday, March 13th. UBS Group set a $33.00 price target on shares of WBI in a report on Monday, March 16th. Finally, Barclays raised their price target on shares of WBI from $29.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $33.20.

WBI Company Profile

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