Fernbridge Capital Management LP Decreases Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

Fernbridge Capital Management LP reduced its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 3.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 243,748 shares of the construction company’s stock after selling 9,801 shares during the period. Advanced Drainage Systems comprises 1.5% of Fernbridge Capital Management LP’s investment portfolio, making the stock its 18th biggest position. Fernbridge Capital Management LP’s holdings in Advanced Drainage Systems were worth $28,177,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in Advanced Drainage Systems during the 4th quarter valued at about $86,185,000. Impax Asset Management Group plc grew its position in shares of Advanced Drainage Systems by 34.6% in the fourth quarter. Impax Asset Management Group plc now owns 2,530,000 shares of the construction company’s stock valued at $291,723,000 after purchasing an additional 650,052 shares during the last quarter. First Trust Advisors LP grew its position in shares of Advanced Drainage Systems by 45.8% in the fourth quarter. First Trust Advisors LP now owns 1,732,827 shares of the construction company’s stock valued at $200,315,000 after purchasing an additional 544,109 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in shares of Advanced Drainage Systems during the 4th quarter worth approximately $46,997,000. Finally, Amundi raised its position in shares of Advanced Drainage Systems by 72.2% during the 4th quarter. Amundi now owns 854,764 shares of the construction company’s stock worth $98,678,000 after purchasing an additional 358,271 shares during the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on WMS. UBS Group raised Advanced Drainage Systems from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a research report on Wednesday, January 8th. StockNews.com cut Advanced Drainage Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, April 1st. KeyCorp cut their target price on shares of Advanced Drainage Systems from $180.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Advanced Drainage Systems in a research note on Tuesday, April 1st. They set a “buy” rating and a $134.00 price target on the stock. Finally, Barclays cut their price objective on shares of Advanced Drainage Systems from $149.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Advanced Drainage Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $153.78.

Advanced Drainage Systems Price Performance

WMS opened at $111.61 on Friday. Advanced Drainage Systems, Inc. has a 1 year low of $93.92 and a 1 year high of $184.27. The company’s 50 day simple moving average is $108.70 and its 200 day simple moving average is $123.11. The stock has a market capitalization of $8.66 billion, a PE ratio of 18.66, a P/E/G ratio of 1.13 and a beta of 1.48. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.98 and a current ratio of 3.21.

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 analysts’ consensus estimates of $1.34 by ($0.25). Advanced Drainage Systems had a net margin of 15.90% and a return on equity of 35.79%. As a group, sell-side analysts expect that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Friday, February 28th. Advanced Drainage Systems’s dividend payout ratio (DPR) is presently 10.70%.

Advanced Drainage Systems Company 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.