AAON, Inc. $AAON Shares Bought by Wasatch Advisors LP

Key Points

• Wasatch Advisors LP increased its AAON stake by 23.8% in the first quarter, adding 436,704 shares to bring its total to 2.27 million shares worth about $187.7 million. Institutional ownership remains high, with hedge funds and institutions holding 70.81% of the stock.
• AAON reported stronger-than-expected quarterly results, posting EPS of $0.48 versus the $0.31 consensus and revenue of $496.94 million versus $381.08 million expected. Revenue rose 54.3% year over year, and the company said it expects full-year EPS of 2.23.
• The stock traded lower despite the solid fundamentals, opening at $126.57 and falling 5.0% in the session. Analysts currently rate AAON a consensus Buy with a target price of $112.00, while insiders have also been selling shares recently.

Wasatch Advisors LP grew its position in AAON, Inc. (NASDAQ:AAON - Free Report) by 23.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,268,118 shares of the construction company's stock after acquiring an additional 436,704 shares during the period. AAON comprises 1.2% of Wasatch Advisors LP's portfolio, making the stock its 29th largest holding. Wasatch Advisors LP owned 2.78% of AAON worth $187,687,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Moore Capital Management LP purchased a new stake in AAON in the 3rd quarter valued at approximately $13,959,000. Comerica Bank raised its stake in shares of AAON by 23.7% during the 4th quarter. Comerica Bank now owns 238,462 shares of the construction company's stock worth $18,183,000 after buying an additional 45,660 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of AAON by 136.4% in the 3rd quarter. First Trust Advisors LP now owns 1,933,595 shares of the construction company's stock valued at $180,675,000 after buying an additional 1,115,566 shares during the period. Champlain Investment Partners LLC lifted its holdings in shares of AAON by 96.4% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,320,319 shares of the construction company's stock valued at $216,811,000 after buying an additional 1,138,658 shares during the period. Finally, Capital International Investors boosted its stake in shares of AAON by 50.9% in the third quarter. Capital International Investors now owns 1,471,792 shares of the construction company's stock valued at $137,524,000 after buying an additional 496,581 shares in the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.

AAON Trading Down 5.0%

Shares of AAON stock opened at $126.57 on Friday. AAON, Inc. has a 12-month low of $62.00 and a 12-month high of $150.46. The company has a current ratio of 2.62, a quick ratio of 1.75 and a debt-to-equity ratio of 0.46. The stock has a market cap of $10.37 billion, a PE ratio of 88.51, a price-to-earnings-growth ratio of 3.73 and a beta of 1.39. The company has a 50-day moving average of $124.29 and a two-hundred day moving average of $100.59.

AAON (NASDAQ:AAON - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The construction company reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.17. The company had revenue of $496.94 million during the quarter, compared to the consensus estimate of $381.08 million. AAON had a net margin of 7.30% and a return on equity of 13.67%. The company's revenue for the quarter was up 54.3% on a year-over-year basis. During the same period last year, the firm earned $0.37 EPS. On average, research analysts anticipate that AAON, Inc. will post 2.23 EPS for the current fiscal year.

AAON Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Friday, June 5th. AAON's payout ratio is presently 27.97%.

Analysts Set New Price Targets

AAON has been the topic of a number of recent analyst reports. William Blair reaffirmed an "outperform" rating on shares of AAON in a report on Monday, March 2nd. Zacks Research raised AAON from a "hold" rating to a "strong-buy" rating in a report on Monday, May 11th. Finally, Oppenheimer restated an "outperform" rating on shares of AAON in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, AAON presently has a consensus rating of "Buy" and a consensus target price of $112.00.

Insider Activity at AAON

In other AAON news, EVP Gordon Douglas Wichman sold 3,000 shares of the company's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $140.39, for a total value of $421,170.00. Following the sale, the executive vice president owned 10,997 shares of the company's stock, valued at approximately $1,543,868.83. This represents a 21.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary D. Fields sold 19,000 shares of AAON stock in a transaction on Friday, May 29th. The stock was sold at an average price of $140.20, for a total value of $2,663,800.00. Following the transaction, the director directly owned 15,252 shares of the company's stock, valued at $2,138,330.40. This trade represents a 55.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 150,473 shares of company stock valued at $19,516,213 in the last 90 days. 18.09% of the stock is owned by corporate insiders.

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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