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 firm’s stock in a transaction on 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 completion of the sale, the insider 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

WBI Stock Down 9.5%

Shares of NYSE WBI traded down $3.15 during trading on Monday, reaching $30.04. 4,436,400 shares of the stock traded hands, compared to its average volume of 1,530,086. 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 52-week low of $18.64 and a 52-week high of $36.21. The firm has a 50-day moving average of $29.35.

WBI Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of WBI from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Wall Street Zen upgraded shares of WBI from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. The Goldman Sachs Group boosted their price objective on shares of WBI from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Wells Fargo & Company upped their target price 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. Finally, Morgan Stanley lifted their price objective on WBI from $34.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.