Impax Asset Management Group plc Raises Stock Position in AAON, Inc. $AAON

Key Points

• Impax Asset Management Group plc boosted its stake in AAON by 53.2% to 1,403,648 shares, representing about 1.72% of the company and valued at roughly $107.0 million at quarter-end.
• Several large institutions also materially increased holdings — Wellington up 512.5% to 4.74M shares, Champlain up 96.4%, and First Trust up 136.4% — leaving about 70.81% of AAON owned by hedge funds and other institutional investors.
• In the most recent quarter AAON missed EPS at $0.39 versus $0.45 expected but reported revenue of $424.22 million (up 42.5% YoY); the company has a market cap of $8.13 billion and a P/E of 76.61.

Impax Asset Management Group plc boosted its position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 53.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,403,648 shares of the construction company's stock after purchasing an additional 487,601 shares during the period. Impax Asset Management Group plc owned approximately 1.72% of AAON worth $107,028,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AAON. Wellington Management Group LLP raised its stake in AAON by 512.5% during the third quarter. Wellington Management Group LLP now owns 4,739,892 shares of the construction company's stock worth $442,896,000 after purchasing an additional 3,966,088 shares during the period. Champlain Investment Partners LLC raised its stake in AAON by 96.4% during the third quarter. Champlain Investment Partners LLC now owns 2,320,319 shares of the construction company's stock worth $216,811,000 after purchasing an additional 1,138,658 shares during the period. First Trust Advisors LP raised its stake in AAON by 136.4% during the third quarter. First Trust Advisors LP now owns 1,933,595 shares of the construction company's stock worth $180,675,000 after purchasing an additional 1,115,566 shares during the period. Copeland Capital Management LLC purchased a new position in AAON during the third quarter worth about $68,036,000. Finally, Bamco Inc. NY purchased a new position in AAON during the third quarter worth about $67,922,000. 70.81% of the stock is owned by hedge funds and other institutional investors.

AAON Trading Up 0.9%

Shares of AAON stock opened at $99.59 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.84 and a current ratio of 2.63. The stock has a market capitalization of $8.13 billion, a P/E ratio of 76.61, a price-to-earnings-growth ratio of 3.08 and a beta of 1.20. The company has a 50 day moving average price of $90.85 and a 200 day moving average price of $91.19. AAON, Inc. has a fifty-two week low of $62.00 and a fifty-two week high of $116.04.

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

AAON Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Wednesday, March 18th were issued a $0.10 dividend. The ex-dividend date was Wednesday, March 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.4%. AAON's payout ratio is 30.77%.

Insider Buying and Selling

In related news, CAO Rebecca Thompson sold 7,292 shares of AAON stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $100.10, for a total value of $729,929.20. Following the completion of the transaction, the chief accounting officer owned 27,681 shares in the company, valued at approximately $2,770,868.10. The trade was a 20.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Casey Kidwell sold 5,225 shares of AAON stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $90.00, for a total transaction of $470,250.00. Following the completion of the transaction, the insider owned 12,662 shares of the company's stock, valued at $1,139,580. This trade represents a 29.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 14,804 shares of company stock valued at $1,429,131 in the last 90 days. Company insiders own 18.09% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of AAON in a research note on Wednesday, January 21st. Wall Street Zen raised shares of AAON from a "sell" rating to a "hold" rating in a research note on Saturday, February 14th. William Blair reissued an "outperform" rating on shares of AAON in a research note on Monday, March 2nd. Oppenheimer reissued an "outperform" rating and issued a $118.00 price target (up from $115.00) on shares of AAON in a research note on Tuesday, March 3rd. Finally, DA Davidson reissued a "buy" rating and issued a $120.00 price target on shares of AAON in a research note on Tuesday, February 3rd. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $107.75.

About AAON

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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