Riverbridge Partners LLC Has $25.02 Million Holdings in AAON, Inc. $AAON

Riverbridge Partners LLC trimmed its holdings in AAON, Inc. (NASDAQ:AAON) by 14.7% in the 1st quarter, Holdings Channel reports. The fund owned 302,369 shares of the construction company’s stock after selling 52,001 shares during the quarter. Riverbridge Partners LLC’s holdings in AAON were worth $25,021,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Millennium Management LLC raised its stake in AAON by 429.3% during the 1st quarter. Millennium Management LLC now owns 81,145 shares of the construction company’s stock valued at $6,340,000 after purchasing an additional 65,813 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of AAON by 1.8% during the 1st quarter. NewEdge Advisors LLC now owns 16,267 shares of the construction company’s stock worth $1,271,000 after purchasing an additional 294 shares during the period. Goldman Sachs Group Inc. raised its position in shares of AAON by 20.6% during the first quarter. Goldman Sachs Group Inc. now owns 430,936 shares of the construction company’s stock valued at $33,669,000 after buying an additional 73,644 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of AAON by 5.7% during 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 buying an additional 12,489 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of AAON by 96.5% during the second quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company’s stock valued at $25,000 after buying an additional 164 shares during the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

Insider Activity at AAON

In other news, EVP Gordon Douglas Wichman sold 3,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $140.39, for a total value of $421,170.00. Following the completion of the transaction, the executive vice president directly owned 10,997 shares of the company’s stock, valued at approximately $1,543,868.83. This represents a 21.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gary D. Fields sold 19,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $140.20, for a total value of $2,663,800.00. Following the transaction, the director owned 15,252 shares of the company’s stock, valued at $2,138,330.40. This trade represents a 55.47% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 150,473 shares of company stock valued at $19,516,213. Corporate insiders own 18.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AAON shares. Zacks Research upgraded AAON from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. Oppenheimer reiterated an “outperform” rating on shares of AAON in a research report on Friday, May 8th. Finally, William Blair reissued an “outperform” rating on shares of AAON in a report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, AAON currently has an average rating of “Buy” and a consensus target price of $112.00.

AAON Trading Down 4.9%

Shares of AAON stock opened at $129.45 on Wednesday. The firm has a fifty day moving average of $122.06 and a 200-day moving average of $99.77. The stock has a market cap of $10.60 billion, a price-to-earnings ratio of 90.52, a P/E/G ratio of 3.81 and a beta of 1.39. AAON, Inc. has a 52-week low of $62.00 and a 52-week high of $150.46. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.75 and a current ratio of 2.62.

AAON (NASDAQ:AAON) last issued its earnings results 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 business had revenue of $496.94 million for the quarter, compared to analyst estimates of $381.08 million. AAON had a net margin of 7.30% and a return on equity of 13.67%. The firm’s revenue was up 54.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.37 EPS. On average, equities research analysts forecast that AAON, Inc. will post 2.23 earnings per share for the current fiscal year.

AAON Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, June 5th. AAON’s payout ratio is presently 27.97%.

AAON Company 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.