AAON, Inc. $AAON is Geneva Capital Management LLC’s 4th Largest Position

Geneva Capital Management LLC reduced its holdings in AAON, Inc. (NASDAQ:AAON) by 0.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,023,146 shares of the construction company’s stock after selling 13,606 shares during the quarter. AAON accounts for about 3.2% of Geneva Capital Management LLC’s investment portfolio, making the stock its 4th biggest holding. Geneva Capital Management LLC’s holdings in AAON were worth $189,043,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Impax Asset Management Group plc boosted its holdings in AAON by 25.0% during the second quarter. Impax Asset Management Group plc now owns 587,296 shares of the construction company’s stock worth $42,715,000 after buying an additional 117,446 shares in the last quarter. Arcadia Investment Management Corp MI increased its holdings in AAON by 88.8% in the second quarter. Arcadia Investment Management Corp MI now owns 27,825 shares of the construction company’s stock valued at $2,052,000 after buying an additional 13,087 shares in the last quarter. Pembroke Management LTD lifted its position in shares of AAON by 28.6% during the 3rd quarter. Pembroke Management LTD now owns 553,149 shares of the construction company’s stock valued at $51,686,000 after acquiring an additional 122,937 shares during the period. Jackson Square Partners LLC lifted its position in shares of AAON by 195.8% during the 3rd quarter. Jackson Square Partners LLC now owns 133,734 shares of the construction company’s stock valued at $12,496,000 after acquiring an additional 88,516 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of AAON by 24.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 560,371 shares of the construction company’s stock worth $53,751,000 after acquiring an additional 110,715 shares in the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Stephen E. Wakefield purchased 4,141 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were bought at an average price of $77.59 per share, for a total transaction of $321,300.19. Following the acquisition, the executive vice president directly owned 15,212 shares in the company, valued at $1,180,299.08. This trade represents a 37.40% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 18.55% of the company’s stock.

AAON Price Performance

AAON stock opened at $90.54 on Wednesday. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of 69.65, a price-to-earnings-growth ratio of 2.55 and a beta of 1.09. The company has a quick ratio of 1.84, a current ratio of 2.63 and a debt-to-equity ratio of 0.45. AAON, Inc. has a 52-week low of $62.00 and a 52-week high of $116.04. The stock’s fifty day simple moving average is $93.01 and its 200-day simple moving average is $91.27.

AAON (NASDAQ:AAON) last released its earnings results on Monday, March 2nd. The construction company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.06). AAON had a net margin of 7.46% and a return on equity of 13.13%. The business had revenue of $424.22 million during the quarter, compared to analyst estimates of $374.10 million. During the same quarter in the previous year, the company posted $0.30 earnings per share. The business’s revenue for the quarter was up 42.5% compared to the same quarter last year. Equities research analysts expect that AAON, Inc. will post 2.26 EPS for the current year.

AAON Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Wednesday, March 18th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Wednesday, March 18th. AAON’s dividend payout ratio is presently 30.77%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Wall Street Zen raised AAON from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Weiss Ratings reissued a “hold (c)” rating on shares of AAON in a report on Wednesday, January 21st. DA Davidson reaffirmed a “buy” rating and set a $120.00 price target on shares of AAON in a research note on Tuesday, February 3rd. William Blair reiterated an “outperform” rating on shares of AAON in a research report on Monday, March 2nd. Finally, Oppenheimer reissued an “outperform” rating and issued a $118.00 price objective (up from $115.00) on shares of AAON in a research note on Tuesday, March 3rd. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, AAON has an average rating of “Moderate 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.