Public Employees Retirement System of Ohio Purchases New Shares in AAON, Inc. $AAON

Key Points

• Public Employees Retirement System of Ohio purchased 19,744 AAON shares worth approximately $2.5 million, while institutional investors collectively own 70.81% of the company.
• AAON reported strong quarterly results, with earnings of $0.69 per share versus a $0.51 estimate and revenue of $626.98 million, up 101.2% year over year.
• Shares opened at $79.40, well below their 12-month high of $150.46. Analysts maintain a “Moderate Buy” consensus with an average price target of $126.67, and the company declared a quarterly dividend of $0.10 per share.

Public Employees Retirement System of Ohio purchased a new position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 19,744 shares of the construction company's stock, valued at approximately $2,505,000.

A number of other institutional investors have also recently added to or reduced their stakes in AAON. Millennium Management LLC grew its stake in shares of AAON by 429.3% during the first quarter. Millennium Management LLC now owns 81,145 shares of the construction company's stock valued at $6,340,000 after acquiring an additional 65,813 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of AAON by 1.8% in the first quarter. NewEdge Advisors LLC now owns 16,267 shares of the construction company's stock worth $1,271,000 after acquiring an additional 294 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in AAON by 20.6% in the first quarter. Goldman Sachs Group Inc. now owns 430,936 shares of the construction company's stock valued at $33,669,000 after purchasing an additional 73,644 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in AAON by 5.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,002 shares of the construction company's stock valued at $18,204,000 after purchasing an additional 12,489 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in AAON by 96.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company's stock valued at $25,000 after purchasing an additional 164 shares in the last quarter. Institutional investors and hedge funds own 70.81% of the company's stock.

AAON Stock Performance

Shares of AAON opened at $79.40 on Friday. The business's fifty day moving average price is $95.30 and its 200 day moving average price is $103.83. AAON, Inc. has a 12-month low of $73.19 and a 12-month high of $150.46. The stock has a market capitalization of $6.55 billion, a PE ratio of 41.35, a price-to-earnings-growth ratio of 1.50 and a beta of 1.41. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 2.01.

AAON (NASDAQ:AAON - Get Free Report) last released its earnings results 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 firm 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%. The firm'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 firm earned $0.22 earnings per share. Equities research analysts forecast that AAON, Inc. will post 2.3 EPS for the current year.

AAON Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors 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 currently 20.83%.

Analyst Ratings Changes

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

Insider Buying and Selling at AAON

In other AAON news, EVP Matthew Shaub acquired 457 shares of the company's stock in a transaction that occurred on Friday, August 28th. The shares were purchased at an average price of $76.42 per share, for a total transaction of $34,923.94. Following the completion of the purchase, the executive vice president directly owned 3,136 shares in the company, valued at $239,653.12. The trade was a 17.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 18.09% of the stock is currently 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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