PNC Financial Services Group Inc. Sells 289 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

PNC Financial Services Group Inc. trimmed its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 0.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 307,151 shares of the construction company’s stock after selling 289 shares during the period. PNC Financial Services Group Inc. owned about 0.40% of Advanced Drainage Systems worth $48,272,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WMS. Swedbank AB purchased a new position in Advanced Drainage Systems in the first quarter valued at about $220,853,000. Boston Partners lifted its stake in Advanced Drainage Systems by 16.9% in the first quarter. Boston Partners now owns 1,519,118 shares of the construction company’s stock valued at $261,609,000 after purchasing an additional 219,629 shares during the last quarter. Millennium Management LLC grew its holdings in Advanced Drainage Systems by 136.2% during the second quarter. Millennium Management LLC now owns 312,393 shares of the construction company’s stock valued at $50,105,000 after purchasing an additional 180,154 shares during the period. Lazard Freres Gestion S.A.S. purchased a new stake in Advanced Drainage Systems in the second quarter worth $28,870,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Advanced Drainage Systems in the second quarter valued at $21,657,000. 89.83% of the stock is owned by hedge funds and other institutional investors.

Advanced Drainage Systems Stock Down 0.5 %

WMS opened at $128.44 on Thursday. 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 one year low of $116.98 and a one year high of $184.27. The firm has a market capitalization 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 fifty day moving average price of $149.58 and a 200-day moving average price of $158.10.

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

Advanced Drainage Systems Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Oppenheimer cut their price target on Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Robert W. Baird lowered their price target on shares of Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Loop Capital dropped their price target on shares of Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. KeyCorp reduced their price objective on shares of Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Finally, Stephens restated an “equal weight” rating and set a $135.00 target price (down previously from $170.00) on shares of Advanced Drainage Systems in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $170.29.

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.