VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Position in AAON, Inc. $AAON

Key Points

• Virginia Retirement Systems disclosed a new position in AAON, buying 10,150 shares worth about $774,000 in the fourth quarter.
• AAON saw significant insider selling, with Director Gary D. Fields and CEO Matthew Joseph Tobolski both trimming their holdings; insiders sold 108,295 shares total over the last 90 days.
• The company posted strong quarterly results, beating earnings and revenue estimates with EPS of $0.48 and revenue of $496.94 million, while analysts currently rate the stock a Buy on average.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in AAON, Inc. (NASDAQ:AAON - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,150 shares of the construction company's stock, valued at approximately $774,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jackson Square Partners LLC grew its position in AAON by 195.8% during the third quarter. Jackson Square Partners LLC now owns 133,734 shares of the construction company's stock worth $12,496,000 after buying an additional 88,516 shares in the last quarter. Moore Capital Management LP acquired a new stake in AAON during the third quarter worth approximately $13,959,000. Comerica Bank grew its position in AAON by 23.7% during the fourth 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 grew its position 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 buying an additional 1,115,566 shares in the last quarter. Finally, WCM Investment Management LLC grew its position in AAON by 34.7% during the third quarter. WCM Investment Management LLC now owns 281,288 shares of the construction company's stock worth $25,735,000 after buying an additional 72,506 shares in the last quarter. 70.81% of the stock is owned by institutional investors.

Insider Buying and Selling

In other AAON news, Director Gary D. Fields sold 31,271 shares of AAON stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $134.07, for a total transaction of $4,192,502.97. Following the transaction, the director directly owned 34,252 shares of the company's stock, valued at approximately $4,592,165.64. The trade was a 47.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew Joseph Tobolski sold 8,000 shares of AAON stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $135.37, for a total value of $1,082,960.00. Following the transaction, the chief executive officer directly owned 114,371 shares in the company, valued at $15,482,402.27. The trade was a 6.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 108,295 shares of company stock valued at $13,323,408 over the last 90 days. 18.09% of the stock is owned by corporate insiders.

AAON Stock Performance

NASDAQ AAON opened at $135.49 on Monday. The company has a quick ratio of 1.75, a current ratio of 2.62 and a debt-to-equity ratio of 0.46. AAON, Inc. has a twelve month low of $62.00 and a twelve month high of $149.00. The company has a market cap of $11.10 billion, a price-to-earnings ratio of 94.75, a price-to-earnings-growth ratio of 3.79 and a beta of 1.24. The business's fifty day moving average is $94.85 and its 200 day moving average is $92.32.

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

AAON Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Wednesday, March 18th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, March 18th. This represents a $0.40 annualized dividend and a yield of 0.3%. AAON's payout ratio is presently 27.97%.

Analyst Upgrades and Downgrades

AAON has been the topic of a number of analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of AAON in a research report on Wednesday, January 21st. Wall Street Zen raised AAON from a "sell" rating to a "hold" rating in a research report on Saturday, February 14th. William Blair reaffirmed an "outperform" rating on shares of AAON in a report on Monday, March 2nd. Oppenheimer reaffirmed an "outperform" rating on shares of AAON in a report on Friday, May 8th. Finally, Zacks Research raised AAON from a "hold" rating to a "strong-buy" rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, AAON has an average rating of "Buy" and an average price target 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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