AAON, Inc. $AAON Shares Acquired by First Trust Advisors LP

Key Points

• First Trust Advisors LP boosted its stake in AAON by 136.4% in Q3 to 1,933,595 shares, representing about 2.37% of the company and valued at roughly $180.7 million.
• AAON reported quarterly revenue of $424.22 million (up 42.5% YoY) but missed EPS expectations at $0.39 vs. $0.45, and announced a quarterly dividend of $0.10 (annualized $0.40, ~0.5% yield).
• EVP Stephen E. Wakefield purchased 4,141 shares, increasing his holdings 37.4% to 15,212 shares; institutional investors own 70.81% of AAON while insiders hold 18.70%.

First Trust Advisors LP raised its stake in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 136.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,933,595 shares of the construction company's stock after purchasing an additional 1,115,566 shares during the period. First Trust Advisors LP owned 2.37% of AAON worth $180,675,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of AAON. Champlain Investment Partners LLC acquired a new position in shares of AAON in the 2nd quarter valued at $87,147,000. Copeland Capital Management LLC acquired a new stake in shares of AAON during the 3rd quarter worth $68,036,000. Norges Bank purchased a new position in shares of AAON in the 2nd quarter worth $51,441,000. Clean Energy Transition LLP acquired a new position in AAON in the third quarter valued at $47,976,000. Finally, Impax Asset Management Group plc boosted its holdings in AAON by 56.0% in the third quarter. Impax Asset Management Group plc now owns 916,047 shares of the construction company's stock valued at $84,730,000 after acquiring an additional 328,751 shares during the last quarter. Institutional investors and hedge funds own 70.81% of the company's stock.

Insider Buying and Selling

In related news, EVP Stephen E. Wakefield purchased 4,141 shares of the firm's stock in a transaction on Friday, December 12th. The stock was purchased at an average price of $77.59 per share, for a total transaction of $321,300.19. Following the acquisition, the executive vice president directly owned 15,212 shares in the company, valued at $1,180,299.08. The trade was a 37.40% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 18.70% of the company's stock.

AAON Stock Down 4.4%

Shares of NASDAQ AAON opened at $88.33 on Friday. The stock has a fifty day moving average price of $92.47 and a 200 day moving average price of $91.10. The company has a current ratio of 2.63, a quick ratio of 2.03 and a debt-to-equity ratio of 0.45. AAON, Inc. has a 12-month low of $62.00 and a 12-month high of $116.04. The company has a market cap of $7.20 billion, a P/E ratio of 67.95, a P/E/G ratio of 2.49 and a beta of 1.09.

AAON (NASDAQ:AAON - Get Free Report) last issued its quarterly earnings data on Monday, March 2nd. The construction company reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.06). AAON had a return on equity of 13.13% and a net margin of 7.46%.The company had revenue of $424.22 million for the quarter, compared to analyst estimates of $374.10 million. During the same quarter in the prior year, the firm earned $0.30 EPS. The company's revenue for the quarter was up 42.5% compared to the same quarter last year. Research analysts anticipate that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Wednesday, March 18th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $0.40 annualized dividend and a yield of 0.5%. AAON's payout ratio is 30.77%.

Analyst Ratings Changes

AAON has been the subject of several research analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of AAON in a research note on Wednesday, January 21st. Wall Street Zen raised AAON from a "sell" rating to a "hold" rating in a research note on Saturday, February 14th. William Blair reiterated an "outperform" rating on shares of AAON in a report on Monday, March 2nd. Oppenheimer reissued an "outperform" rating and set a $118.00 target price (up from $115.00) on shares of AAON in a research report on Tuesday. Finally, DA Davidson restated a "buy" rating and issued a $120.00 price target on shares of AAON in a report on Tuesday, February 3rd. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $107.75.

AAON Profile

AAON, Inc NASDAQ: AAON is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company's product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.

AAON's core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.

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