William Blair Comments on AAON, Inc.'s Q1 2024 Earnings (NASDAQ:AAON)

AAON, Inc. (NASDAQ:AAON - Free Report) - Research analysts at William Blair issued their Q1 2024 earnings per share estimates for AAON in a research report issued on Monday, April 29th. William Blair analyst R. Merkel anticipates that the construction company will post earnings of $0.53 per share for the quarter. William Blair currently has a "Outperform" rating on the stock. The consensus estimate for AAON's current full-year earnings is $2.29 per share. William Blair also issued estimates for AAON's Q2 2024 earnings at $0.58 EPS, Q3 2024 earnings at $0.64 EPS, Q4 2024 earnings at $0.64 EPS, FY2024 earnings at $2.40 EPS and FY2025 earnings at $3.15 EPS.

AAON (NASDAQ:AAON - Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The construction company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.03. AAON had a return on equity of 27.20% and a net margin of 15.20%. The company had revenue of $306.60 million for the quarter, compared to analyst estimates of $294.35 million. During the same period in the previous year, the firm earned $0.47 earnings per share. The firm's quarterly revenue was up 20.4% on a year-over-year basis.

AAON Trading Up 0.4 %

Shares of NASDAQ:AAON traded up $0.38 during trading on Wednesday, reaching $94.47. The stock had a trading volume of 594,363 shares, compared to its average volume of 432,345. AAON has a 52 week low of $52.24 and a 52 week high of $96.34. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.54 and a current ratio of 3.23. The firm's fifty day moving average is $85.91 and its 200 day moving average is $73.93. The stock has a market cap of $7.76 billion, a price-to-earnings ratio of 44.62 and a beta of 0.91.

Institutional Investors Weigh In On AAON

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its position in shares of AAON by 93.1% during the first quarter. BNP Paribas Financial Markets now owns 102,695 shares of the construction company's stock valued at $9,047,000 after buying an additional 49,507 shares during the last quarter. Peterson Wealth Services grew its stake in shares of AAON by 157.5% in the 1st quarter. Peterson Wealth Services now owns 8,442 shares of the construction company's stock worth $744,000 after acquiring an additional 5,164 shares in the last quarter. Ascent Wealth Partners LLC lifted its position in shares of AAON by 6.4% during the first quarter. Ascent Wealth Partners LLC now owns 16,514 shares of the construction company's stock valued at $1,411,000 after purchasing an additional 995 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in AAON in the 1st quarter valued at about $213,000. Finally, Norden Group LLC lifted its position in shares of AAON by 49.1% during the 1st quarter. Norden Group LLC now owns 16,847 shares of the construction company's stock worth $1,484,000 after buying an additional 5,550 shares in the last quarter. 70.81% of the stock is owned by institutional investors.

Insider Transactions at AAON

In other AAON news, VP Stephen E. Wakefield sold 24,655 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $80.86, for a total transaction of $1,993,603.30. Following the transaction, the vice president now directly owns 15,992 shares in the company, valued at approximately $1,293,113.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, VP Stephen E. Wakefield sold 24,655 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $80.86, for a total transaction of $1,993,603.30. Following the transaction, the vice president now owns 15,992 shares of the company's stock, valued at approximately $1,293,113.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Norman H. Asbjornson sold 805 shares of the business's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $80.01, for a total value of $64,408.05. Following the completion of the sale, the director now directly owns 53,093 shares of the company's stock, valued at $4,247,970.93. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,596 shares of company stock valued at $3,613,768. Corporate insiders own 18.55% of the company's stock.

AAON Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, March 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.34%. AAON's payout ratio is currently 15.00%.

About AAON

AAON, Inc, together with its subsidiaries, engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada. The company operates through three segments: AAON Oklahoma, AAON Coil Products, and BASX. It offers rooftop units, data center cooling solutions, cleanroom systems, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, coils, and controls.