WBI (NYSE:WBI) Sets New 12-Month High – What’s Next?

WBI (NYSE:WBI)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $36.37 and last traded at $35.4970, with a volume of 18438 shares traded. The stock had previously closed at $34.77.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WBI. Wall Street Zen raised shares of WBI from a “sell” rating to a “hold” rating in a research note on Sunday. 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. Weiss Ratings raised shares of WBI from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 18th. The Goldman Sachs Group increased their price target on shares of WBI from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Finally, Barclays raised their price objective on shares of WBI from $29.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, May 21st. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.20.

WBI Price Performance

The company has a debt-to-equity ratio of 0.79, a current ratio of 1.30 and a quick ratio of 1.30. The company’s 50-day simple moving average is $30.89. The company has a market cap of $4.29 billion and a price-to-earnings ratio of 138.72.

WBI (NYSE:WBI) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.08 EPS for the quarter. The company had revenue of $200.98 million for the quarter. On average, research analysts predict that WBI will post 0.37 earnings per share for the current fiscal year.

WBI Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, June 4th. WBI’s dividend payout ratio (DPR) is currently 80.00%.

Insider Activity

In other news, major shareholder Wbr Holdings Llc sold 5,894,826 shares of the business’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 owned 1,980,921 shares of the company’s stock, valued at $59,526,676.05. The trade was a 74.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Energy Corp/De Devon sold 1,755,174 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 transaction of $52,742,978.70. The SEC filing for this sale provides additional information. Insiders sold 19,439,652 shares of company stock valued at $584,161,543 over the last quarter. 50.61% of the stock is currently owned by company insiders.

About WBI

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