Insider Selling: WBI (NYSE:WBI) Major Shareholder Sells $177,139,521.30 in Stock

WBI (NYSE:WBI) major shareholder Waterbridge Resources Llc sold 5,894,826 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 1,980,921 shares in the company, valued at $59,526,676.05. This trade represents a 74.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

WBI Trading Down 1.3%

WBI stock opened at $28.22 on Thursday. The company has a market cap of $3.48 billion and a price-to-earnings ratio of 112.87. The business has a fifty day simple moving average of $29.45. WBI has a 12 month low of $18.64 and a 12 month high of $36.21. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.79.

WBI Announces Dividend

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

Wall Street Analysts Forecast Growth

WBI has been the topic of several research analyst reports. UBS Group set a $33.00 target price on shares of WBI in a research note on Monday, March 16th. Weiss Ratings raised shares of WBI from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Barclays increased their price objective on shares of WBI from $29.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st. Wells Fargo & Company raised 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 target price on shares of WBI from $34.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Three investment 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, the stock currently has a consensus rating of “Moderate Buy” and an average 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.