PNC Financial Services Group Inc. Has $35.52 Million Stake in Advanced Drainage Systems, Inc. (NYSE:WMS)

PNC Financial Services Group Inc. raised its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS) by 0.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 307,288 shares of the construction company’s stock after buying an additional 137 shares during the quarter. PNC Financial Services Group Inc. owned 0.40% of Advanced Drainage Systems worth $35,522,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Swedbank AB raised its holdings in shares of Advanced Drainage Systems by 5.8% during the third quarter. Swedbank AB now owns 1,384,276 shares of the construction company’s stock valued at $217,553,000 after purchasing an additional 75,455 shares during the period. QRG Capital Management Inc. grew its holdings in Advanced Drainage Systems by 8.8% during the third quarter. QRG Capital Management Inc. now owns 1,638 shares of the construction company’s stock worth $257,000 after buying an additional 132 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Advanced Drainage Systems by 12.8% in the third quarter. Crossmark Global Holdings Inc. now owns 4,999 shares of the construction company’s stock valued at $786,000 after purchasing an additional 566 shares during the last quarter. Entropy Technologies LP purchased a new stake in Advanced Drainage Systems in the 3rd quarter valued at about $1,707,000. Finally, Victory Capital Management Inc. increased its stake in Advanced Drainage Systems by 31.8% in the 3rd quarter. Victory Capital Management Inc. now owns 164,190 shares of the construction company’s stock valued at $25,804,000 after buying an additional 39,593 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Wall Street Analysts Forecast Growth

WMS has been the subject of several research analyst reports. Barclays decreased their target price on Advanced Drainage Systems from $160.00 to $149.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. UBS Group upgraded shares of Advanced Drainage Systems from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a report on Wednesday, January 8th. StockNews.com upgraded shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a report on Wednesday, March 5th. Stephens restated an “equal weight” rating and set a $135.00 price target on shares of Advanced Drainage Systems in a research note on Friday, February 7th. Finally, KeyCorp decreased their price target 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. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $164.25.

Advanced Drainage Systems Stock Up 1.4 %

Advanced Drainage Systems stock opened at $114.96 on Monday. Advanced Drainage Systems, Inc. has a 1-year low of $101.90 and a 1-year high of $184.27. The firm has a market capitalization of $8.92 billion, a price-to-earnings ratio of 19.22, a P/E/G ratio of 1.13 and a beta of 1.61. The company has a current ratio of 3.21, a quick ratio of 1.98 and a debt-to-equity ratio of 0.93. The firm has a 50 day simple moving average of $119.00 and a 200 day simple moving average of $134.50.

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

Advanced Drainage Systems Announces Dividend

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

Advanced Drainage Systems 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.