PNC Financial Services Group Inc. Boosts Stake in Advanced Drainage Systems, Inc. (NYSE:WMS)

PNC Financial Services Group Inc. lifted its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 0.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 307,288 shares of the construction company’s stock after purchasing an additional 137 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Advanced Drainage Systems were worth $35,522,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Huntington National Bank grew its stake in Advanced Drainage Systems by 123.1% in the 3rd quarter. Huntington National Bank now owns 386 shares of the construction company’s stock worth $61,000 after buying an additional 213 shares in the last quarter. Millburn Ridgefield Corp grew its position in Advanced Drainage Systems by 642.4% in the third quarter. Millburn Ridgefield Corp now owns 490 shares of the construction company’s stock worth $77,000 after acquiring an additional 424 shares in the last quarter. UMB Bank n.a. grew its position in Advanced Drainage Systems by 12.7% in the fourth quarter. UMB Bank n.a. now owns 781 shares of the construction company’s stock worth $90,000 after acquiring an additional 88 shares in the last quarter. Spire Wealth Management purchased a new position in Advanced Drainage Systems in the fourth quarter worth $94,000. Finally, First Horizon Advisors Inc. grew its position in Advanced Drainage Systems by 18.3% in the fourth quarter. First Horizon Advisors Inc. now owns 884 shares of the construction company’s stock worth $102,000 after acquiring an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on WMS shares. Oppenheimer cut their price objective on Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Stephens reaffirmed an “equal weight” rating and issued a $135.00 target price on shares of Advanced Drainage Systems in a research note on Friday, February 7th. StockNews.com raised Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. Barclays reduced their target price on shares of Advanced Drainage Systems from $160.00 to $149.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. Finally, Robert W. Baird lowered their price target on shares of Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $164.25.

Advanced Drainage Systems Trading Up 1.4 %

NYSE:WMS opened at $114.96 on Monday. The company has a fifty day moving average of $119.00 and a 200 day moving average of $134.50. Advanced Drainage Systems, Inc. has a 52 week low of $101.90 and a 52 week high of $184.27. The company has a quick ratio of 1.98, a current ratio of 3.21 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $8.92 billion, a P/E ratio of 19.22, a P/E/G ratio of 1.13 and a beta of 1.61.

Advanced Drainage Systems (NYSE:WMS) last posted its earnings results on Thursday, February 6th. The construction company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.25). Advanced Drainage Systems had a return on equity of 35.79% and a net margin of 15.90%. On average, research analysts predict that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current year.

Advanced Drainage Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Friday, February 28th. Advanced Drainage Systems’s dividend payout ratio (DPR) is currently 10.70%.

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.