Kestra Private Wealth Services LLC Takes Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Kestra Private Wealth Services LLC acquired a new position in Advanced Drainage Systems, Inc. (NYSE:WMS) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 2,457 shares of the construction company’s stock, valued at approximately $346,000.

Other hedge funds have also bought and sold shares of the company. Raymond James & Associates boosted its holdings in shares of Advanced Drainage Systems by 0.8% during the 3rd quarter. Raymond James & Associates now owns 35,806 shares of the construction company’s stock valued at $4,076,000 after acquiring an additional 295 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Advanced Drainage Systems by 3.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 692,211 shares of the construction company’s stock worth $78,794,000 after buying an additional 20,947 shares during the last quarter. New York State Teachers Retirement System grew its holdings in shares of Advanced Drainage Systems by 94.9% in the third quarter. New York State Teachers Retirement System now owns 43,966 shares of the construction company’s stock worth $5,005,000 after acquiring an additional 21,413 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Advanced Drainage Systems by 11.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 87,740 shares of the construction company’s stock valued at $9,987,000 after acquiring an additional 8,775 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Advanced Drainage Systems by 8.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 446,694 shares of the construction company’s stock valued at $50,847,000 after acquiring an additional 35,868 shares during the period. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Oppenheimer upped their price target on shares of Advanced Drainage Systems from $172.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Stephens raised their target price on Advanced Drainage Systems from $138.00 to $182.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. KeyCorp boosted their price target on Advanced Drainage Systems from $160.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Finally, StockNews.com raised Advanced Drainage Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $159.13.

Insider Activity at Advanced Drainage Systems

In other news, Director Ross M. Jones sold 762,895 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $163.00, for a total transaction of $124,351,885.00. Following the sale, the director now directly owns 70,749 shares of the company’s stock, valued at approximately $11,532,087. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Ross M. Jones sold 762,895 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $163.00, for a total transaction of $124,351,885.00. Following the sale, the director now directly owns 70,749 shares in the company, valued at approximately $11,532,087. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael G. Huebert sold 10,000 shares of Advanced Drainage Systems stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $163.52, for a total value of $1,635,200.00. Following the completion of the transaction, the executive vice president now owns 13,450 shares of the company’s stock, valued at approximately $2,199,344. The disclosure for this sale can be found here. 3.79% of the stock is owned by corporate insiders.

Advanced Drainage Systems Trading Down 0.8 %

WMS stock opened at $168.05 on Wednesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.03 and a quick ratio of 2.04. Advanced Drainage Systems, Inc. has a 1-year low of $84.71 and a 1-year high of $176.31. The business has a 50 day simple moving average of $164.67 and a two-hundred day simple moving average of $143.11. The company has a market capitalization of $13.04 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 1.49 and a beta of 1.51.

Advanced Drainage Systems (NYSE:WMS) last issued its earnings results on Thursday, February 8th. The construction company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.44. The firm had revenue of $662.37 million during the quarter, compared to analyst estimates of $632.69 million. Advanced Drainage Systems had a net margin of 17.65% and a return on equity of 49.79%. Advanced Drainage Systems’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.99 earnings per share. Research analysts anticipate that Advanced Drainage Systems, Inc. will post 6.09 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.14 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.33%. Advanced Drainage Systems’s dividend payout ratio is currently 8.90%.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the construction and agriculture marketplaces in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.