WBI (NYSE:WBI) Sets New 52-Week High After Analyst Upgrade

WBI (NYSE:WBI) shares hit a new 52-week high during mid-day trading on Wednesday after The Goldman Sachs Group raised their price target on the stock from $36.00 to $41.00. The Goldman Sachs Group currently has a buy rating on the stock. WBI traded as high as $36.37 and last traded at $35.4970, with a volume of 18438 shares. The stock had previously closed at $34.77.

WBI has been the topic of several other research reports. Wall Street Zen upgraded shares of WBI from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. 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. Weiss Ratings raised shares of WBI from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Finally, Morgan Stanley boosted their target price on shares of WBI from $34.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.20.

Insider Activity

In other news, 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 sale, the insider owned 1,980,921 shares of the company’s stock, valued at approximately $59,526,676.05. This represents a 74.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David N. Capobianco sold 5,894,826 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 transaction of $177,139,521.30. Following the transaction, the director directly owned 1,980,921 shares of the company’s stock, valued at approximately $59,526,676.05. This represents a 74.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 19,439,652 shares of company stock worth $584,161,543. 50.61% of the stock is currently owned by insiders.

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 firm has a market cap of $4.30 billion and a PE ratio of 139.27. The firm has a fifty day moving average of $31.12.

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

WBI Dividend Announcement

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

About WBI

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