AAON (NASDAQ:AAON) Coverage Initiated at William Blair

William Blair assumed coverage on shares of AAON (NASDAQ:AAON) in a report issued on Monday, MarketBeat reports. The firm issued an outperform rating on the construction company’s stock. William Blair also issued estimates for AAON’s Q1 2024 earnings at $0.53 EPS, 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 Trading Up 0.4 %

AAON stock opened at $94.47 on Monday. AAON has a one year low of $52.24 and a one year high of $96.34. The stock has a market cap of $7.76 billion, a price-to-earnings ratio of 44.35 and a beta of 0.91. The company has a fifty day moving average price of $86.16 and a two-hundred day moving average price of $74.07. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.23 and a quick ratio of 1.54.

AAON (NASDAQ:AAON) last released its quarterly earnings results on Wednesday, February 28th. The construction company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.03. The business had revenue of $306.60 million during the quarter, compared to analysts’ expectations of $294.35 million. AAON had a return on equity of 27.20% and a net margin of 15.20%. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period last year, the firm posted $0.47 EPS. Equities analysts anticipate that AAON will post 2.29 EPS for the current year.

AAON Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Friday, March 15th. AAON’s payout ratio is presently 15.02%.

Insider Buying and Selling at AAON

In other AAON news, Director Norman H. Asbjornson sold 805 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $80.01, for a total transaction of $64,408.05. Following the completion of the transaction, the director now owns 53,093 shares of the company’s stock, valued at $4,247,970.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Norman H. Asbjornson sold 805 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 53,093 shares in the company, valued at approximately $4,247,970.93. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Stephen E. Wakefield sold 24,655 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the vice president now owns 15,992 shares of the company’s stock, valued at $1,293,113.12. The disclosure for this sale can be found here. Insiders sold a total of 44,596 shares of company stock worth $3,613,768 over the last three months. Corporate insiders own 18.55% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC increased its position in AAON by 99.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 17,258 shares of the construction company’s stock valued at $1,520,000 after buying an additional 8,613 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in AAON by 93.1% during the first quarter. BNP Paribas Financial Markets now owns 102,695 shares of the construction company’s stock worth $9,047,000 after buying an additional 49,507 shares during the last quarter. Peterson Wealth Services lifted its stake in shares of AAON by 157.5% in the first quarter. Peterson Wealth Services now owns 8,442 shares of the construction company’s stock valued at $744,000 after buying an additional 5,164 shares in the last quarter. Ascent Wealth Partners LLC grew its holdings 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 buying an additional 995 shares during the last quarter. Finally, Diversify Advisory Services LLC bought a new stake in shares of AAON during the first quarter worth about $213,000. 70.81% of the stock is owned by institutional investors.

AAON Company Profile

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.