Kestra Private Wealth Services LLC Takes $346,000 Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Kestra Private Wealth Services LLC bought a new stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,457 shares of the construction company’s stock, valued at approximately $346,000.

Several other large investors have also recently added to or reduced their stakes in WMS. Van ECK Associates Corp lifted its stake in Advanced Drainage Systems by 25.0% in the fourth quarter. Van ECK Associates Corp now owns 18,470 shares of the construction company’s stock valued at $2,598,000 after acquiring an additional 3,693 shares during the last quarter. Steele Capital Management Inc. acquired a new stake in shares of Advanced Drainage Systems in the fourth quarter worth $430,000. Intrust Bank NA boosted its holdings in shares of Advanced Drainage Systems by 8.9% during the 4th quarter. Intrust Bank NA now owns 4,023 shares of the construction company’s stock worth $566,000 after buying an additional 329 shares during the period. Russell Investments Group Ltd. grew its stake in Advanced Drainage Systems by 3.6% in the 4th quarter. Russell Investments Group Ltd. now owns 40,928 shares of the construction company’s stock valued at $5,795,000 after buying an additional 1,409 shares during the last quarter. Finally, Truist Financial Corp bought a new position in Advanced Drainage Systems in the 4th quarter worth $212,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

In related news, EVP Michael G. Huebert sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $163.52, for a total transaction of $1,635,200.00. Following the completion of the transaction, the executive vice president now owns 13,450 shares in the company, valued at $2,199,344. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Advanced Drainage Systems news, Director Ross M. Jones sold 762,895 shares of the firm’s stock in a transaction that occurred on 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 is accessible through this link. Also, EVP Michael G. Huebert sold 10,000 shares of Advanced Drainage Systems stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $163.52, for a total transaction of $1,635,200.00. Following the completion of the transaction, the executive vice president now directly owns 13,450 shares in the company, valued at approximately $2,199,344. The disclosure for this sale can be found here. 3.79% of the stock is currently owned by company insiders.

Advanced Drainage Systems Stock Performance

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

Advanced Drainage Systems (NYSE:WMS) last issued its earnings results on Thursday, February 8th. The construction company reported $1.37 EPS for the quarter, beating the consensus estimate of $0.93 by $0.44. Advanced Drainage Systems had a net margin of 17.65% and a return on equity of 49.79%. The company had revenue of $662.37 million during the quarter, compared to analysts’ expectations of $632.69 million. During the same quarter in the previous year, the company posted $0.99 EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. Equities analysts predict that Advanced Drainage Systems, Inc. will post 6.09 earnings per share for the current year.

Advanced Drainage Systems Dividend Announcement

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

Advanced Drainage Systems 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.