AAON, Inc. $AAON Shares Sold by Ferguson Wellman Capital Management Inc.

Key Points

• Ferguson Wellman Capital Management reduced its AAON position by 9.6% in the second quarter, selling 15,895 shares and retaining 150,136 shares valued at approximately $19.0 million. Institutional investors and hedge funds still own 70.81% of the company.
• AAON reported strong quarterly results, with earnings per share of $0.69 versus the $0.51 consensus estimate and revenue of $626.98 million, up 101.2% year over year. The company also declared a quarterly dividend of $0.10 per share.
• AAON shares opened at $75.87, near their 52-week low of $73.19 and well below the $150.46 high. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $126.67, despite several recent target-price reductions.

Ferguson Wellman Capital Management Inc. reduced its position in AAON, Inc. (NASDAQ:AAON - Free Report) by 9.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 150,136 shares of the construction company's stock after selling 15,895 shares during the period. Ferguson Wellman Capital Management Inc. owned approximately 0.18% of AAON worth $19,046,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Royce & Associates LP boosted its stake in shares of AAON by 9.6% during the fourth quarter. Royce & Associates LP now owns 467,496 shares of the construction company's stock valued at $35,647,000 after purchasing an additional 40,892 shares in the last quarter. Stephens Investment Management Group LLC increased its stake in shares of AAON by 9.9% in the fourth quarter. Stephens Investment Management Group LLC now owns 636,296 shares of the construction company's stock valued at $48,518,000 after buying an additional 57,281 shares during the period. Madison Asset Management LLC bought a new position in AAON in the 4th quarter valued at approximately $1,629,000. Conestoga Capital Advisors LLC raised its holdings in AAON by 5.0% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,776,013 shares of the construction company's stock valued at $135,421,000 after buying an additional 84,693 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its position in AAON by 36.3% during the 4th quarter. New York State Teachers Retirement System now owns 38,642 shares of the construction company's stock worth $2,946,000 after buying an additional 10,300 shares during the period. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AAON

In other AAON news, CAO Rebecca Thompson sold 4,230 shares of the business's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $143.42, for a total transaction of $606,666.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 18.09% of the stock is owned by insiders.

AAON Trading Down 2.9%

Shares of AAON stock opened at $75.87 on Friday. The company has a market cap of $6.26 billion, a P/E ratio of 39.52, a PEG ratio of 1.48 and a beta of 1.45. The stock has a 50 day simple moving average of $100.77 and a two-hundred day simple moving average of $104.67. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.01 and a current ratio of 3.01. AAON, Inc. has a fifty-two week low of $73.19 and a fifty-two week high of $150.46.

AAON (NASDAQ:AAON - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The construction company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.18. The company had revenue of $626.98 million during the quarter, compared to analyst estimates of $508.82 million. AAON had a net margin of 8.24% and a return on equity of 17.32%. AAON's revenue for the quarter was up 101.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.22 EPS. Research analysts forecast that AAON, Inc. will post 2.3 earnings per share for the current year.

AAON Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, September 4th. AAON's dividend payout ratio is presently 20.83%.

Wall Street Analyst Weigh In

AAON has been the topic of a number of research reports. Zacks Research lowered shares of AAON from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Robert W. Baird cut their price target on shares of AAON from $150.00 to $135.00 and set an "outperform" rating on the stock in a report on Tuesday, August 11th. KeyCorp reissued a "sector weight" rating on shares of AAON in a research note on Thursday, August 13th. Weiss Ratings restated a "hold (c)" rating on shares of AAON in a report on Tuesday, July 14th. Finally, Oppenheimer lowered their target price on AAON from $145.00 to $125.00 and set an "outperform" rating for the company in a research report on Tuesday, August 11th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, AAON presently has an average rating of "Moderate Buy" and a consensus target price of $126.67.

AAON Company 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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