WBI (NYSE:WBI) Sets New 12-Month High – Here’s Why

WBI (NYSE:WBI)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $36.51 and last traded at $36.23, with a volume of 22632 shares trading hands. The stock had previously closed at $35.48.

Analyst Upgrades and Downgrades

WBI has been the topic of a number of recent analyst reports. Barclays lifted their target price on WBI from $29.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st. The Goldman Sachs Group raised their price target on shares of WBI from $36.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Morgan Stanley raised their price target on shares of WBI from $34.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. Wall Street Zen upgraded shares of WBI from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Weiss Ratings upgraded shares of WBI from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.20.

WBI Price Performance

The stock’s 50-day moving average price is $31.79. The stock has a market cap of $4.37 billion and a PE ratio of 141.74. 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 (NYSE:WBI) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.08 earnings per share for the quarter. The firm had revenue of $200.98 million for the quarter. Sell-side analysts anticipate that WBI will post 0.3 earnings per share for the current fiscal year.

WBI Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, June 4th. WBI’s payout ratio is presently 80.00%.

Insider Buying and Selling at WBI

In other news, major shareholder Wbr Holdings Llc 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 transaction of $177,139,521.30. Following the completion of the transaction, the insider owned 1,980,921 shares of the company’s stock, valued at approximately $59,526,676.05. This trade represents 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 accessible through the SEC website. Also, Director David N. Capobianco sold 5,894,826 shares of WBI stock in a transaction 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 transaction, the director owned 1,980,921 shares in the company, valued at approximately $59,526,676.05. This trade represents a 74.85% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 19,439,652 shares of company stock valued at $584,161,543. Insiders own 50.61% of the company’s stock.

About WBI

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