Nordea Investment Management AB Sells 42,936 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Posted by Defense World Staff on May 11th, 2023

Nordea Investment Management AB lessened its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS – Get Rating) by 39.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,633 shares of the construction company’s stock after selling 42,936 shares during the period. Nordea Investment Management AB owned approximately 0.08% of Advanced Drainage Systems worth $5,306,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Advanced Drainage Systems by 4.6% in the third quarter. Vanguard Group Inc. now owns 6,387,305 shares of the construction company’s stock valued at $794,389,000 after buying an additional 278,780 shares during the period. BlackRock Inc. raised its position in Advanced Drainage Systems by 6.1% during the third quarter. BlackRock Inc. now owns 3,344,498 shares of the construction company’s stock valued at $415,955,000 after purchasing an additional 190,946 shares in the last quarter. Boston Partners increased its holdings in shares of Advanced Drainage Systems by 4.1% during the third quarter. Boston Partners now owns 1,760,001 shares of the construction company’s stock worth $218,827,000 after buying an additional 69,633 shares in the last quarter. State Street Corp grew its stake in shares of Advanced Drainage Systems by 3.3% in the third quarter. State Street Corp now owns 1,181,730 shares of the construction company’s stock worth $146,972,000 after purchasing an additional 37,860 shares during the last quarter. Finally, Robeco Schweiz AG grew its stake in shares of Advanced Drainage Systems by 188.1% in the fourth quarter. Robeco Schweiz AG now owns 1,137,675 shares of the construction company’s stock worth $93,255,000 after purchasing an additional 742,826 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on WMS shares. Morgan Stanley cut their price objective on shares of Advanced Drainage Systems from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 19th. StockNews.com initiated coverage on shares of Advanced Drainage Systems in a research report on Thursday, March 16th. They set a “hold” rating for the company. Oppenheimer assumed coverage on shares of Advanced Drainage Systems in a research note on Tuesday, April 18th. They set an “outperform” rating and a $108.00 price target on the stock. Loop Capital reduced their price target on shares of Advanced Drainage Systems from $118.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, March 24th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Advanced Drainage Systems from $147.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday, March 21st. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.83.

Advanced Drainage Systems Stock Performance

Shares of NYSE WMS opened at $87.35 on Thursday. The company’s fifty day moving average price is $83.43 and its 200 day moving average price is $88.82. Advanced Drainage Systems, Inc. has a 1 year low of $75.02 and a 1 year high of $153.36. The company has a market capitalization of $7.10 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 0.94 and a beta of 1.38. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.89 and a current ratio of 3.13.

Insider Activity

In other news, CAO Kevin C. Talley sold 22,006 shares of the stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $89.67, for a total value of $1,973,278.02. Following the completion of the sale, the chief accounting officer now directly owns 40,019 shares in the company, valued at $3,588,503.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 9.33% of the company’s stock.

Advanced Drainage Systems Profile

(Get Rating)

Advanced Drainage Systems, Inc engages in the manufacture of thermoplastic corrugated pipe, which provides a suite of water management products and drainage solutions for use in the construction and infrastructure marketplace. It operates through the following segments: Pipe, Infiltrator, International, and Allied Products & Other.