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 the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $30.05, for a total value of $177,139,521.30. Following the sale, the insider owned 1,980,921 shares of the company’s stock, valued at approximately $59,526,676.05. The trade was a 74.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

WBI Stock Down 9.5%

Shares of WBI stock traded down $3.15 on Monday, hitting $30.04. 4,436,400 shares of the company’s stock traded hands, compared to its average volume of 1,530,086. The firm’s fifty day moving average price is $29.35. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.30 and a quick ratio of 1.30. WBI has a one year low of $18.64 and a one year high of $36.21.

WBI Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Thursday, June 4th. WBI’s payout ratio is presently 80.00%.

Analyst Ratings Changes

WBI has been the subject of several recent research reports. Morgan Stanley boosted their price objective on WBI from $34.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. UBS Group set a $33.00 target price on shares of WBI in a research report on Monday, March 16th. Barclays upped their target price on shares of WBI from $29.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, May 21st. The Goldman Sachs Group lifted their price target on WBI from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Finally, Wells Fargo & Company lifted their price objective on shares of WBI from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Friday, March 13th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, WBI presently has a consensus rating of “Moderate Buy” and a consensus 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.