PNC Financial Services Group Inc. Sells 4,289 Shares of Advanced Drainage Systems, Inc. $WMS

PNC Financial Services Group Inc. lowered its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 279,200 shares of the construction company’s stock after selling 4,289 shares during the period. PNC Financial Services Group Inc. owned 0.36% of Advanced Drainage Systems worth $40,437,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its stake in shares of Advanced Drainage Systems by 352.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock worth $26,000 after purchasing an additional 176 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Advanced Drainage Systems during the 3rd quarter worth approximately $33,000. Cullen Frost Bankers Inc. raised its stake in shares of Advanced Drainage Systems by 1,242.1% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 255 shares of the construction company’s stock worth $35,000 after purchasing an additional 236 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Advanced Drainage Systems during the 3rd quarter worth approximately $36,000. Finally, Larson Financial Group LLC raised its stake in shares of Advanced Drainage Systems by 24.4% during the 4th quarter. Larson Financial Group LLC now owns 377 shares of the construction company’s stock worth $55,000 after purchasing an additional 74 shares in the last quarter. Institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Down 1.1%

WMS opened at $135.30 on Friday. Advanced Drainage Systems, Inc. has a 1-year low of $105.14 and a 1-year high of $179.32. The stock’s fifty day simple moving average is $142.50 and its 200 day simple moving average is $150.18. The company has a current ratio of 4.12, a quick ratio of 3.08 and a debt-to-equity ratio of 0.72. The stock has a market cap of $10.54 billion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 1.43 and a beta of 1.33.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings data on Thursday, May 21st. The construction company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.09. The firm had revenue of $676.76 million for the quarter, compared to analysts’ expectations of $651.92 million. Advanced Drainage Systems had a return on equity of 27.72% and a net margin of 15.75%.The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.03 EPS. As a group, research analysts expect that Advanced Drainage Systems, Inc. will post 6.2 earnings per share for the current year.

Advanced Drainage Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, June 1st. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.18. Advanced Drainage Systems’s dividend payout ratio (DPR) is 11.98%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on WMS shares. KeyCorp increased their price target on Advanced Drainage Systems from $180.00 to $198.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. Royal Bank Of Canada increased their price target on Advanced Drainage Systems from $176.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Weiss Ratings restated a “hold (c)” rating on shares of Advanced Drainage Systems in a research note on Monday, April 20th. UBS Group set a $215.00 price target on Advanced Drainage Systems and gave the company a “buy” rating in a research note on Friday, February 6th. Finally, Oppenheimer restated an “outperform” rating and issued a $195.00 price target (down from $200.00) on shares of Advanced Drainage Systems in a research note on Friday, April 17th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Advanced Drainage Systems has an average rating of “Moderate Buy” and a consensus price target of $199.83.

About Advanced Drainage Systems

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.