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

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in AAON, Inc. (NASDAQ:AAON) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 16,250 shares of the construction company’s stock, valued at approximately $2,061,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AAON. EverSource Wealth Advisors LLC lifted its stake in shares of AAON by 96.5% in the second quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company’s stock worth $25,000 after buying an additional 164 shares in the last quarter. Summit Securities Group LLC purchased a new stake in AAON during the 4th quarter valued at about $45,000. Danske Bank A S purchased a new stake in AAON during the 3rd quarter valued at about $47,000. Huntington National Bank grew its stake in AAON by 21.1% during the 4th quarter. Huntington National Bank now owns 689 shares of the construction company’s stock valued at $53,000 after acquiring an additional 120 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in AAON by 46.8% in the 4th quarter. UMB Bank n.a. now owns 885 shares of the construction company’s stock valued at $67,000 after acquiring an additional 282 shares during the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

Insider Activity at AAON

In other AAON news, EVP Matthew Shaub purchased 457 shares of the stock in a transaction dated Friday, August 28th. The stock was acquired at an average cost of $76.42 per share, for a total transaction of $34,923.94. Following the acquisition, the executive vice president owned 3,136 shares in the company, valued at $239,653.12. This trade represents a 17.06% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 18.09% of the stock is currently owned by company insiders.

AAON Stock Performance

AAON stock opened at $79.79 on Friday. The firm has a 50 day simple moving average of $91.46 and a 200-day simple moving average of $103.01. The stock has a market cap of $6.58 billion, a price-to-earnings ratio of 41.56, a price-to-earnings-growth ratio of 1.45 and a beta of 1.41. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 2.01. AAON, Inc. has a 1-year low of $73.19 and a 1-year high of $150.46.

AAON (NASDAQ:AAON) last released its quarterly earnings data on Monday, August 10th. The construction company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.18. The firm had revenue of $626.98 million for the quarter, compared to analysts’ expectations of $508.82 million. AAON had a return on equity of 17.32% and a net margin of 8.24%.The firm’s quarterly revenue was up 101.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.22 earnings per share. On average, analysts expect that AAON, Inc. will post 2.3 EPS for the current year.

AAON Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, September 4th. AAON’s dividend payout ratio is 20.83%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of AAON in a research note on Tuesday, July 14th. Oppenheimer cut their price target on AAON from $145.00 to $125.00 and set an “outperform” rating for the company in a report on Tuesday, August 11th. KeyCorp reiterated a “sector weight” rating on shares of AAON in a research report on Thursday, August 13th. Zacks Research lowered AAON from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Finally, Robert W. Baird dropped their target price on AAON from $150.00 to $135.00 and set an “outperform” rating for the company in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, AAON has a consensus rating of “Moderate Buy” and an average target price of $126.67.

About AAON

AAON, Inc is a manufacturer of heating, ventilation and air-conditioning (HVAC) equipment for commercial and industrial applications. The company designs and produces systems intended to support climate control, indoor air quality and energy efficiency in a range of buildings and facilities.

Its product portfolio includes rooftop units, air-handling units, condensing units, heat pumps, chillers and related HVAC controls and equipment. AAON sells its products through manufacturer representatives and distributors, serving customers primarily in North America.

Founded in 1988 by Norman Asbjornson and headquartered in Tulsa, Oklahoma, AAON operates manufacturing facilities in the United States.