Elevatus Welath Management Acquires New Position in Advanced Drainage Systems, Inc. $WMS

Key Points

• Elevatus Wealth Management opened a new stake in Advanced Drainage Systems, buying 17,954 shares worth about $2.6 million, and institutional investors now own roughly 89.83% of the company.
• Advanced Drainage Systems beat quarterly estimates with $1.27 EPS vs. $1.11 expected and $693.35M revenue, showing strong profitability (ROE 27.72%, net margin 15.75%), while analysts are largely bullish with an average price target of about $186.
• The stock opened at $132.61 (52‑week range $93.92–$179.32), has a market cap of $10.33B and a P/E of 22.06, and pays a quarterly dividend of $0.18 (annual yield ~0.5%, DPR ~12%).

Elevatus Welath Management bought a new position in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 17,954 shares of the construction company's stock, valued at approximately $2,600,000.

Several other hedge funds and other institutional investors have also bought and sold shares of WMS. Cetera Investment Advisers grew its position in Advanced Drainage Systems by 12.6% during the second quarter. Cetera Investment Advisers now owns 17,274 shares of the construction company's stock valued at $1,984,000 after acquiring an additional 1,929 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Advanced Drainage Systems by 1.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 665,991 shares of the construction company's stock worth $76,496,000 after acquiring an additional 8,610 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of Advanced Drainage Systems by 31.3% in the 2nd quarter. Prudential Financial Inc. now owns 7,200 shares of the construction company's stock worth $827,000 after acquiring an additional 1,715 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Advanced Drainage Systems by 1.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 180,837 shares of the construction company's stock valued at $20,791,000 after purchasing an additional 2,949 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. boosted its stake in shares of Advanced Drainage Systems by 3.4% in the 2nd quarter. Northwest & Ethical Investments L.P. now owns 13,957 shares of the construction company's stock valued at $1,603,000 after purchasing an additional 453 shares in the last quarter. Hedge funds and other institutional investors own 89.83% of the company's stock.

Advanced Drainage Systems Trading Down 1.3%

WMS opened at $132.61 on Friday. Advanced Drainage Systems, Inc. has a one year low of $93.92 and a one year high of $179.32. The company has a debt-to-equity ratio of 0.72, a current ratio of 4.12 and a quick ratio of 3.08. The business has a 50 day simple moving average of $156.06 and a two-hundred day simple moving average of $149.17. The firm has a market capitalization of $10.33 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 1.58 and a beta of 1.27.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The construction company reported $1.27 earnings per share for the quarter, topping analysts' consensus estimates of $1.11 by $0.16. Advanced Drainage Systems had a return on equity of 27.72% and a net margin of 15.75%.The firm had revenue of $693.35 million for the quarter, compared to analyst estimates of $686.37 million. During the same period last year, the company earned $1.09 EPS. The business's quarterly revenue was up .4% compared to the same quarter last year. Analysts predict that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 0.5%. Advanced Drainage Systems's dividend payout ratio (DPR) is presently 11.98%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Robert W. Baird set a $205.00 target price on shares of Advanced Drainage Systems in a research report on Friday, February 6th. Royal Bank Of Canada upped their price target on shares of Advanced Drainage Systems from $176.00 to $205.00 and gave the company an "outperform" rating in a research report on Friday, February 6th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Advanced Drainage Systems in a research note on Wednesday, January 21st. UBS Group set a $215.00 price objective on Advanced Drainage Systems and gave the stock a "buy" rating in a report on Friday, February 6th. Finally, KeyCorp boosted their target price on Advanced Drainage Systems from $180.00 to $198.00 and gave the company an "overweight" rating in a research note on Friday, February 6th. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Advanced Drainage Systems has an average rating of "Moderate Buy" and an average price target of $186.00.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc NYSE: WMS is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.

The company's product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.