WBI (NYSE:WBI) Major Shareholder Sells 1,755,174 Shares of Stock

WBI (NYSE:WBI) major shareholder Energy Corp/De Devon sold 1,755,174 shares of WBI stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $30.05, for a total value of $52,742,978.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

WBI Price Performance

Shares of NYSE:WBI traded down $0.37 during mid-day trading on Wednesday, hitting $28.22. The company had a trading volume of 2,148,444 shares, compared to its average volume of 988,979. The company has a fifty day moving average of $29.40. The firm has a market capitalization of $3.48 billion and a P/E ratio of 112.87. 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 declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were issued a dividend of $0.05 per share. The ex-dividend date was Thursday, June 4th. This represents a $0.20 annualized dividend and a yield of 0.7%. WBI’s dividend payout ratio is 80.00%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. 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. Barclays lifted their price target on shares of WBI from $29.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, May 21st. UBS Group set a $33.00 target price on WBI in a research report on Monday, March 16th. Weiss Ratings raised WBI from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Finally, Morgan Stanley increased their price target on WBI from $34.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.20.

About WBI

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