WBI (NYSE:WBI) Major Shareholder Sells 5,894,826 Shares

WBI (NYSE:WBI) major shareholder Wbr Holdings Llc sold 5,894,826 shares of the stock in a transaction 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 transaction, the insider directly owned 1,980,921 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

WBI Stock Performance

Shares of WBI traded down $3.15 during trading hours on Monday, hitting $30.04. The stock had a trading volume of 4,436,400 shares, 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 12 month low of $18.64 and a 12 month high of $36.21. The firm has a fifty day moving average price of $29.35.

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 0.7%. The ex-dividend date of this dividend was Thursday, June 4th. WBI’s dividend payout ratio is currently 80.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WBI. Barclays upped their price target on WBI from $29.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, May 21st. The Goldman Sachs Group raised their price target on WBI from $32.00 to $36.00 and gave the company a “buy” rating in a report on Friday, May 29th. Morgan Stanley increased their price objective on shares of WBI from $34.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. Wells Fargo & Company lifted their price objective on shares of WBI from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Friday, March 13th. Finally, Weiss Ratings raised shares of WBI from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus 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.