Advanced Drainage Systems, Inc. $WMS Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 1.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 274,556 shares of the construction company’s stock after selling 4,644 shares during the period. PNC Financial Services Group Inc. owned 0.35% of Advanced Drainage Systems worth $37,650,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its position in shares of Advanced Drainage Systems by 352.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock valued at $26,000 after buying an additional 176 shares during the last quarter. SJS Investment Consulting Inc. lifted its stake in shares of Advanced Drainage Systems by 78.1% in the first quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company’s stock worth $33,000 after buying an additional 107 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Advanced Drainage Systems during the third quarter worth about $36,000. Kestra Advisory Services LLC acquired a new position in Advanced Drainage Systems during the fourth quarter worth about $37,000. Finally, Los Angeles Capital Management LLC purchased a new stake in Advanced Drainage Systems during the 4th quarter valued at about $42,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

Advanced Drainage Systems Price Performance

Advanced Drainage Systems stock opened at $140.66 on Friday. The company has a current ratio of 2.42, a quick ratio of 1.35 and a debt-to-equity ratio of 0.92. The company has a 50-day moving average price of $142.16 and a 200 day moving average price of $148.77. Advanced Drainage Systems, Inc. has a 12-month low of $110.85 and a 12-month high of $179.32. The stock has a market cap of $10.78 billion, a P/E ratio of 25.86, a PEG ratio of 1.53 and a beta of 1.26.

Advanced Drainage Systems (NYSE:WMS) last posted its earnings results on Thursday, May 21st. The construction company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.12. Advanced Drainage Systems had a net margin of 13.98% and a return on equity of 26.63%. The company had revenue of $676.76 million for the quarter, compared to analyst estimates of $651.92 million. During the same period in the previous year, the business posted $1.03 EPS. Advanced Drainage Systems’s revenue was up 9.9% on a year-over-year basis. Sell-side analysts anticipate that Advanced Drainage Systems, Inc. will post 6.55 earnings per share for the current year.

Advanced Drainage Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.20 dividend. This is a boost from Advanced Drainage Systems’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, June 1st. Advanced Drainage Systems’s payout ratio is currently 14.71%.

Analyst Ratings Changes

WMS has been the subject of a number of recent research reports. Barclays increased their price objective on shares of Advanced Drainage Systems from $181.00 to $191.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Jefferies Financial Group assumed coverage on Advanced Drainage Systems in a report on Thursday, June 11th. They set a “buy” rating and a $175.00 target price on the stock. UBS Group cut their price target on Advanced Drainage Systems from $215.00 to $205.00 and set a “buy” rating for the company in a report on Friday, May 22nd. Royal Bank Of Canada lifted their price objective on Advanced Drainage Systems from $168.00 to $170.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Finally, Stephens raised Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $190.00 to $175.00 in a research note on Wednesday, May 27th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $187.00.

Advanced Drainage Systems Profile

Advanced Drainage Systems, Inc (NYSE: WMS) is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.

The company’s product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.