WaterBridge Resources LLC and WaterBridge NDB LLC, acting as significant 10% owners in WaterBridge Infrastructure LLC (NASDAQ: WBI), have reported the disposition of 5,894,826 Class A shares. The total value of these transactions reached $177,139,521, executed on June 22, 2026. The shares were divested at a price of $30.05 per share. This liquidation occurs against a backdrop of substantial recent price appreciation for WBI, which has delivered a 45% return over the preceding six months. At the time of reporting, the stock was trading at $29.98. According to InvestingPro analysis, the equity appears to be trading at fair value relative to current market conditions. Analysts anticipate the company will achieve profitability within the current year, with expected earnings per share of $1.07.
The sales were executed by entities indirectly controlled by the reporting owners. Specifically, NDB Holdings LLC sold 3,920,948 Class A shares, Desert Environmental Holdings LLC sold 543,064 Class A shares, and WBR Holdings LLC sold 1,430,814 Class A shares. These transactions were conducted in connection with a sale under Rule 144. Prior to the sale, NDB Holdings LLC and Desert Environmental Holdings LLC redeemed a combined 4,464,012 WBI Operating LLC Units. This redemption, along with the cancellation of an equal number of Class B shares, resulted in the acquisition of 4,464,012 Class A shares, which occurred for no consideration.
WaterBridge Resources LLC serves as the managing member of WBR Holdings LLC, while WaterBridge NDB LLC is the managing member of NDB Holdings LLC. Desert Environmental Holdings LLC is also controlled by entities linked to Five Point Energy funds. These reporting owners are deemed to indirectly beneficially own the securities held by these respective holding entities. Following these transactions, the reporting owners continue to hold substantial indirect interests in WaterBridge Infrastructure LLC, including Class A shares, OpCo Units, and corresponding Class B shares.
In other recent news, WaterBridge Infrastructure reported its first-quarter 2026 earnings with an earnings per share (EPS) of $0.08, which was below the expected $0.14. Despite this earnings miss, the company has raised its full-year guidance, reflecting a positive outlook on future performance. Goldman Sachs responded to these developments by raising its price target for WaterBridge Infrastructure from $32 to $36 while maintaining a Buy rating on the stock. The updated estimates from Goldman Sachs followed the company’s earnings results, which showed stronger-than-expected outcomes driven by improved costs and produced water margins. The firm now projects WaterBridge’s 2026 EBITDA to be $463 million, which aligns with the higher end of the company’s guidance range of $425 million to $465 million. This projection is also slightly above the consensus estimates of $457 million.