Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Sold by Geneva Capital Management LLC

Geneva Capital Management LLC cut its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 1.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 189,792 shares of the construction company’s stock after selling 3,107 shares during the period. Geneva Capital Management LLC owned approximately 0.24% of Advanced Drainage Systems worth $32,690,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Advanced Drainage Systems in the fourth quarter valued at approximately $88,640,000. Wellington Management Group LLP boosted its stake in Advanced Drainage Systems by 107.4% during the 4th quarter. Wellington Management Group LLP now owns 567,504 shares of the construction company’s stock valued at $79,814,000 after purchasing an additional 293,924 shares in the last quarter. KBC Group NV increased its position in shares of Advanced Drainage Systems by 78.5% during the 4th quarter. KBC Group NV now owns 659,483 shares of the construction company’s stock valued at $92,750,000 after purchasing an additional 289,925 shares during the period. abrdn plc raised its stake in shares of Advanced Drainage Systems by 164.6% in the 4th quarter. abrdn plc now owns 377,587 shares of the construction company’s stock worth $53,104,000 after buying an additional 234,883 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Advanced Drainage Systems in the fourth quarter valued at $32,122,000. 89.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

WMS has been the topic of several research reports. KeyCorp boosted their price target on shares of Advanced Drainage Systems from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. Stephens boosted their target price on shares of Advanced Drainage Systems from $182.00 to $193.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. Oppenheimer raised their target price on shares of Advanced Drainage Systems from $172.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Northcoast Research initiated coverage on shares of Advanced Drainage Systems in a research report on Wednesday, May 8th. They issued a “buy” rating and a $190.00 price target on the stock. Finally, Robert W. Baird increased their price objective on Advanced Drainage Systems from $192.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, May 17th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.88.

Advanced Drainage Systems Stock Up 3.3 %

Advanced Drainage Systems stock traded up $5.20 during mid-day trading on Thursday, hitting $162.59. 523,181 shares of the company’s stock were exchanged, compared to its average volume of 485,080. Advanced Drainage Systems, Inc. has a 1-year low of $102.32 and a 1-year high of $184.27. The stock has a 50 day moving average of $167.43 and a two-hundred day moving average of $158.19. The stock has a market cap of $12.60 billion, a P/E ratio of 24.44, a P/E/G ratio of 1.26 and a beta of 1.55. The company has a current ratio of 2.96, a quick ratio of 1.90 and a debt-to-equity ratio of 1.13.

Advanced Drainage Systems (NYSE:WMS) last posted its earnings results on Thursday, May 16th. The construction company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.28. Advanced Drainage Systems had a return on equity of 46.93% and a net margin of 17.74%. The firm had revenue of $653.80 million during the quarter, compared to analyst estimates of $611.99 million. During the same period in the previous year, the company earned $1.06 EPS. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. As a group, analysts anticipate that Advanced Drainage Systems, Inc. will post 7.17 EPS for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, May 31st. This is an increase from Advanced Drainage Systems’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a yield of 0.39%. Advanced Drainage Systems’s dividend payout ratio (DPR) is 9.94%.

Insider Buying and Selling at Advanced Drainage Systems

In other news, insider Tim A. Makowski sold 3,800 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $170.68, for a total transaction of $648,584.00. Following the completion of the transaction, the insider now directly owns 4,530 shares of the company’s stock, valued at approximately $773,180.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Advanced Drainage Systems news, insider Tim A. Makowski sold 3,800 shares of Advanced Drainage Systems stock in a transaction on Friday, May 31st. The stock was sold at an average price of $170.68, for a total transaction of $648,584.00. Following the completion of the transaction, the insider now directly owns 4,530 shares of the company’s stock, valued at $773,180.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael G. Huebert sold 10,000 shares of the company’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $172.58, for a total transaction of $1,725,800.00. Following the completion of the sale, the executive vice president now directly owns 7,225 shares in the company, valued at approximately $1,246,890.50. The disclosure for this sale can be found here. Insiders sold a total of 176,004 shares of company stock valued at $30,547,285 in the last quarter. Corporate insiders own 2.05% of the company’s stock.

About Advanced Drainage Systems

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.