Insider Selling: WBI (NYSE:WBI) Major Shareholder Sells $52,742,978.70 in Stock

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

WBI Price Performance

Shares of WBI opened at $31.04 on Friday. The business’s 50-day moving average is $29.63. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $3.83 billion and a P/E ratio of 124.17. WBI has a 1 year low of $18.64 and a 1 year high of $36.21.

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WBI Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on WBI shares. UBS Group set a $33.00 price target on shares of WBI in a research report on Monday, March 16th. Morgan Stanley increased their price objective 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 research note on Monday, May 18th. 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 report on Friday, March 13th. Finally, The Goldman Sachs Group upped 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. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, WBI has a consensus rating of “Moderate Buy” and an average target price of $33.20.

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WBI Company Profile

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

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