Fernbridge Capital Management LP Decreases Stock Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

Fernbridge Capital Management LP lowered its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 3.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 243,748 shares of the construction company’s stock after selling 9,801 shares during the period. Advanced Drainage Systems accounts for approximately 1.5% of Fernbridge Capital Management LP’s portfolio, making the stock its 18th largest position. Fernbridge Capital Management LP owned 0.31% of Advanced Drainage Systems worth $28,177,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of WMS. Assenagon Asset Management S.A. boosted its holdings in shares of Advanced Drainage Systems by 50.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 96,764 shares of the construction company’s stock valued at $11,186,000 after buying an additional 32,418 shares in the last quarter. KBC Group NV lifted its position in Advanced Drainage Systems by 21.2% in the fourth quarter. KBC Group NV now owns 738,749 shares of the construction company’s stock valued at $85,399,000 after acquiring an additional 129,252 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Advanced Drainage Systems by 5.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 593,562 shares of the construction company’s stock valued at $68,616,000 after acquiring an additional 31,510 shares during the last quarter. D.B. Root & Company LLC boosted its stake in Advanced Drainage Systems by 64.9% in the fourth quarter. D.B. Root & Company LLC now owns 5,658 shares of the construction company’s stock valued at $654,000 after acquiring an additional 2,227 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Advanced Drainage Systems by 14.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 163,910 shares of the construction company’s stock worth $18,948,000 after purchasing an additional 20,146 shares during the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Up 0.4 %

WMS stock opened at $111.61 on Friday. The stock has a market capitalization of $8.66 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 1.13 and a beta of 1.48. The company has a fifty day moving average of $108.70 and a 200-day moving average of $123.11. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.98 and a current ratio of 3.21. Advanced Drainage Systems, Inc. has a one year low of $93.92 and a one year high of $184.27.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings data on Thursday, February 6th. The construction company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.25). Advanced Drainage Systems had a net margin of 15.90% and a return on equity of 35.79%. As a group, analysts expect that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Friday, February 28th. Advanced Drainage Systems’s payout ratio is 10.70%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WMS. KeyCorp reduced their target price on Advanced Drainage Systems from $180.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Barclays decreased their price objective on Advanced Drainage Systems from $149.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Advanced Drainage Systems in a report on Tuesday, April 1st. They issued a “buy” rating and a $134.00 target price on the stock. Loop Capital reduced their price target on shares of Advanced Drainage Systems from $170.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Finally, Stephens reissued an “equal weight” rating and set a $135.00 price objective on shares of Advanced Drainage Systems in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Advanced Drainage Systems presently has an average rating of “Moderate Buy” and a consensus target price of $153.78.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in North America and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments. It offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; plastic leachfield chambers and systems; EZflow synthetic aggregate bundles; wastewater purification through mechanical aeration wastewater for residential and commercial systems; septic tanks and accessories; combined treatment and dispersal systems, including advanced enviro-septic and advanced treatment leachfield systems; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.