WBI (NYSE:WBI) Price Target Raised to $41.00

WBI (NYSE:WBI) had its price target boosted by The Goldman Sachs Group from $36.00 to $41.00 in a research report report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently issued reports on WBI. Wall Street Zen raised shares of WBI from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Weiss Ratings raised shares of WBI from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Barclays lifted their price objective on WBI from $29.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, May 21st. Finally, Morgan Stanley upped their target price on WBI from $34.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, WBI has an average rating of “Moderate Buy” and a consensus price target of $34.20.

WBI Stock Performance

WBI stock opened at $34.69 on Wednesday. WBI has a fifty-two week low of $18.64 and a fifty-two week high of $36.37. The firm has a market capitalization of $4.28 billion and a price-to-earnings ratio of 138.75. The firm has a fifty day moving average price of $31.27. 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 (NYSE:WBI) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.08 earnings per share (EPS) for the quarter. The firm had revenue of $200.98 million for the quarter. As a group, sell-side analysts forecast that WBI will post 0.37 EPS for the current fiscal year.

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 issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Thursday, June 4th. WBI’s dividend payout ratio is 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.