WBI (NYSE:WBI) Issues Quarterly Earnings Results

WBI (NYSE:WBI) announced its earnings results on Wednesday. The company reported $0.10 earnings per share for the quarter, FiscalAI reports. The company had revenue of $217.77 million during the quarter.

WBI Stock Performance

Shares of WBI stock traded down $0.47 during trading on Thursday, hitting $33.08. 140,591 shares of the stock were exchanged, compared to its average volume of 965,192. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.79. The company has a fifty day moving average price of $32.27 and a 200-day moving average price of $28.23. The stock has a market capitalization of $4.08 billion and a price-to-earnings ratio of 132.30. WBI has a 1-year low of $18.64 and a 1-year high of $36.89.

WBI Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Thursday, August 27th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, August 27th. WBI’s dividend payout ratio (DPR) is 80.00%.

Insiders Place Their Bets

In other news, major shareholder Wbr Holdings Llc sold 5,894,826 shares of WBI stock in a transaction that occurred on Monday, June 22nd. The stock was 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 directly owned 1,980,921 shares in the company, valued at approximately $59,526,676.05. The trade was a 74.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David N. Capobianco sold 5,894,826 shares of the firm’s stock in a transaction on 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 sale, the director directly owned 1,980,921 shares of the company’s stock, valued at $59,526,676.05. This represents a 74.85% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 19,439,652 shares of company stock worth $584,161,543. Company insiders own 50.61% of the company’s stock.

Analyst Upgrades and Downgrades

WBI has been the topic of a number of research reports. Wall Street Zen upgraded WBI from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. The Goldman Sachs Group lifted their target price on WBI from $36.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Morgan Stanley raised their price target on shares of WBI from $34.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Barclays lifted 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. Finally, Weiss Ratings upgraded shares of WBI from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.20.

About WBI

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