Canada Pension Plan Investment Board Sells 280,175 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Canada Pension Plan Investment Board reduced its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS) by 24.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 882,213 shares of the construction company’s stock after selling 280,175 shares during the quarter. Canada Pension Plan Investment Board owned about 1.14% of Advanced Drainage Systems worth $141,498,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Advanced Drainage Systems by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 7,265,169 shares of the construction company’s stock worth $1,251,353,000 after buying an additional 395,099 shares during the period. Boston Partners increased its stake in Advanced Drainage Systems by 16.9% in the first quarter. Boston Partners now owns 1,519,118 shares of the construction company’s stock valued at $261,609,000 after purchasing an additional 219,629 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of Advanced Drainage Systems by 4.7% during the second quarter. William Blair Investment Management LLC now owns 1,430,091 shares of the construction company’s stock valued at $229,372,000 after purchasing an additional 64,618 shares during the period. Swedbank AB boosted its position in shares of Advanced Drainage Systems by 2.1% during the 2nd quarter. Swedbank AB now owns 1,308,821 shares of the construction company’s stock worth $209,922,000 after purchasing an additional 26,581 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Advanced Drainage Systems by 13.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 772,588 shares of the construction company’s stock valued at $123,920,000 after buying an additional 94,019 shares during the period. 89.83% of the stock is owned by institutional investors and hedge funds.

Advanced Drainage Systems Price Performance

WMS opened at $152.37 on Friday. Advanced Drainage Systems, Inc. has a 1 year low of $102.32 and a 1 year high of $184.27. The company has a market capitalization of $11.81 billion, a price-to-earnings ratio of 23.66, a P/E/G ratio of 1.26 and a beta of 1.53. The firm’s fifty day moving average price is $156.33 and its two-hundred day moving average price is $162.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.89 and a quick ratio of 1.90.

Advanced Drainage Systems (NYSE:WMS) last released its earnings results on Thursday, August 8th. The construction company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.08. The company had revenue of $815.34 million during the quarter, compared to analyst estimates of $828.00 million. Advanced Drainage Systems had a return on equity of 43.60% and a net margin of 17.09%. As a group, analysts anticipate that Advanced Drainage Systems, Inc. will post 6.95 earnings per share for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Friday, August 30th. Advanced Drainage Systems’s payout ratio is 9.94%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Robert W. Baird dropped their price target on Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. StockNews.com cut Advanced Drainage Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Loop Capital reduced their price target on shares of Advanced Drainage Systems from $188.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Barclays lowered their price objective on shares of Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Finally, Oppenheimer reiterated an “outperform” rating and set a $192.00 price objective on shares of Advanced Drainage Systems in a report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $190.14.

Advanced Drainage Systems Company 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.