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

PNC Financial Services Group Inc. cut its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 0.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 307,151 shares of the construction company’s stock after selling 289 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Advanced Drainage Systems were worth $48,272,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in WMS. CANADA LIFE ASSURANCE Co raised its position in Advanced Drainage Systems by 24.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 63,780 shares of the construction company’s stock worth $11,006,000 after purchasing an additional 12,655 shares during the period. Magnetar Financial LLC bought a new position in shares of Advanced Drainage Systems during the first quarter valued at about $525,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Advanced Drainage Systems by 16.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 139,677 shares of the construction company’s stock worth $24,059,000 after buying an additional 19,626 shares during the period. Castleark Management LLC bought a new stake in shares of Advanced Drainage Systems in the 1st quarter valued at about $580,000. Finally, Swedbank AB boosted its holdings in Advanced Drainage Systems by 5.8% during the 3rd quarter. Swedbank AB now owns 1,384,276 shares of the construction company’s stock valued at $217,553,000 after acquiring an additional 75,455 shares during the period. 89.83% of the stock is currently owned by institutional investors.

Advanced Drainage Systems Trading Down 0.5 %

Shares of NYSE WMS opened at $128.44 on Thursday. The stock has a market cap of $9.96 billion, a P/E ratio of 20.45, a price-to-earnings-growth ratio of 1.21 and a beta of 1.53. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.19 and a quick ratio of 2.15. Advanced Drainage Systems, Inc. has a 1 year low of $116.98 and a 1 year high of $184.27. The firm has a 50-day moving average of $149.58 and a 200 day moving average of $158.10.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings results on Friday, November 8th. The construction company reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.23). Advanced Drainage Systems had a return on equity of 40.31% and a net margin of 16.89%. The company had revenue of $782.60 million during the quarter, compared to the consensus estimate of $819.41 million. During the same period in the prior year, the firm earned $1.71 earnings per share. The business’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, sell-side analysts expect that Advanced Drainage Systems, Inc. will post 6.5 EPS for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Monday, December 2nd. Advanced Drainage Systems’s payout ratio is 10.19%.

Analyst Upgrades and Downgrades

WMS has been the subject of several recent research reports. Robert W. Baird lowered their price objective on Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Stephens reiterated an “equal weight” rating and set a $135.00 price target (down from $170.00) on shares of Advanced Drainage Systems in a report on Wednesday, November 13th. Oppenheimer cut their price target on shares of Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Loop Capital lowered their price objective on shares of Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Finally, Barclays dropped their price objective on Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Advanced Drainage Systems currently has an average rating of “Moderate Buy” and an average price target of $170.29.

Advanced Drainage Systems Company Profile

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.