Envestnet Portfolio Solutions Inc. Raises Stake in Advanced Drainage Systems, Inc. (NYSE:WMS)

Envestnet Portfolio Solutions Inc. grew its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS) by 3.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 9,071 shares of the construction company’s stock after buying an additional 282 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Advanced Drainage Systems were worth $1,049,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Millburn Ridgefield Corp raised its stake in Advanced Drainage Systems by 642.4% during the 3rd quarter. Millburn Ridgefield Corp now owns 490 shares of the construction company’s stock valued at $77,000 after acquiring an additional 424 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Advanced Drainage Systems by 12.7% during the fourth quarter. UMB Bank n.a. now owns 781 shares of the construction company’s stock worth $90,000 after purchasing an additional 88 shares during the last quarter. Spire Wealth Management purchased a new position in Advanced Drainage Systems in the 4th quarter valued at $94,000. First Horizon Advisors Inc. increased its stake in Advanced Drainage Systems by 18.3% in the 4th quarter. First Horizon Advisors Inc. now owns 884 shares of the construction company’s stock valued at $102,000 after buying an additional 137 shares during the period. Finally, Blue Trust Inc. raised its position in Advanced Drainage Systems by 12.0% during the 4th quarter. Blue Trust Inc. now owns 1,005 shares of the construction company’s stock worth $116,000 after buying an additional 108 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. UBS Group upgraded shares of Advanced Drainage Systems from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a research note on Wednesday, January 8th. Stephens reissued an “equal weight” rating and set a $135.00 target price on shares of Advanced Drainage Systems in a research note on Friday, February 7th. Barclays decreased their price target on Advanced Drainage Systems from $160.00 to $149.00 and set an “overweight” rating on the stock in a research note on Friday, February 7th. StockNews.com upgraded Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, Loop Capital lowered their price target on shares of Advanced Drainage Systems from $170.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Advanced Drainage Systems has a consensus rating of “Moderate Buy” and a consensus target price of $164.25.

Advanced Drainage Systems Stock Performance

NYSE:WMS opened at $108.33 on Friday. 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 company has a market capitalization of $8.40 billion, a P/E ratio of 18.12, a price-to-earnings-growth ratio of 1.13 and a beta of 1.61. The firm has a 50-day moving average price of $118.00 and a two-hundred day moving average price of $131.32. Advanced Drainage Systems, Inc. has a twelve month low of $101.90 and a twelve month high of $184.27.

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

Advanced Drainage Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Friday, February 28th. Advanced Drainage Systems’s payout ratio is currently 10.70%.

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.