Kestra Private Wealth Services LLC Takes $475,000 Position in Advanced Drainage Systems, Inc. $WMS

Kestra Private Wealth Services LLC purchased a new stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,465 shares of the construction company’s stock, valued at approximately $475,000.

Several other hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new stake in Advanced Drainage Systems during the 4th quarter worth about $156,587,000. Wellington Management Group LLP increased its holdings in shares of Advanced Drainage Systems by 234.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,188,906 shares of the construction company’s stock valued at $164,901,000 after purchasing an additional 832,929 shares during the period. Amundi increased its holdings in shares of Advanced Drainage Systems by 80.9% in the 4th quarter. Amundi now owns 1,279,576 shares of the construction company’s stock valued at $185,324,000 after purchasing an additional 572,193 shares during the period. Interval Partners LP lifted its position in shares of Advanced Drainage Systems by 98.0% in the third quarter. Interval Partners LP now owns 968,534 shares of the construction company’s stock worth $134,336,000 after purchasing an additional 479,413 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in shares of Advanced Drainage Systems by 875.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 458,910 shares of the construction company’s stock worth $66,464,000 after purchasing an additional 411,883 shares in the last quarter. 89.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on WMS. Jefferies Financial Group assumed coverage on shares of Advanced Drainage Systems in a report on Thursday, June 11th. They set a “buy” rating and a $175.00 price target for the company. Royal Bank Of Canada upped their price objective on shares of Advanced Drainage Systems from $168.00 to $170.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. UBS Group cut their target price on shares of Advanced Drainage Systems from $215.00 to $205.00 and set a “buy” rating for the company in a research report on Friday, May 22nd. Barclays decreased their target price on shares of Advanced Drainage Systems from $198.00 to $181.00 and set an “overweight” rating for the company in a research note on Wednesday, April 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Advanced Drainage Systems in a research note on Monday, April 20th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $185.75.

Advanced Drainage Systems Stock Up 0.0%

Shares of Advanced Drainage Systems stock opened at $152.24 on Friday. The firm has a market cap of $11.67 billion, a price-to-earnings ratio of 27.99, a P/E/G ratio of 1.64 and a beta of 1.26. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.42 and a quick ratio of 1.35. Advanced Drainage Systems, Inc. has a 52-week low of $109.63 and a 52-week high of $179.32. The stock has a 50-day simple moving average of $141.85 and a 200-day simple moving average of $148.84.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings results on Thursday, May 21st. The construction company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.95 by $0.12. Advanced Drainage Systems had a return on equity of 26.63% and a net margin of 13.98%.The business had revenue of $676.76 million during the quarter, compared to analysts’ expectations of $651.92 million. During the same quarter in the previous year, the business posted $1.03 EPS. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, equities research analysts expect that Advanced Drainage Systems, Inc. will post 6.55 earnings per share for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.5%. This is a boost from Advanced Drainage Systems’s previous quarterly dividend of $0.18. The ex-dividend date was Monday, June 1st. Advanced Drainage Systems’s dividend payout ratio is presently 14.71%.

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.