William Blair Begins Coverage on AAON (NASDAQ:AAON)

William Blair started coverage on shares of AAON (NASDAQ:AAON) in a research note published 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 %

Shares of NASDAQ AAON opened at $94.47 on Monday. AAON has a 1 year low of $52.24 and a 1 year high of $96.34. The firm has a 50-day moving average of $86.16 and a 200 day moving average of $74.07. The stock has a market cap of $7.76 billion, a P/E ratio of 44.35 and a beta of 0.91. 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 announced its quarterly earnings data on Wednesday, February 28th. The construction company reported $0.56 earnings per share (EPS) for the quarter, beating 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 business had revenue of $306.60 million during the quarter, compared to analysts’ expectations of $294.35 million. During the same quarter in the previous year, the business earned $0.47 earnings per share. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. As a group, sell-side analysts expect that AAON will post 2.29 EPS for the current fiscal year.

AAON Dividend Announcement

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

Insider Buying and Selling at AAON

In other news, Director Norman H. Asbjornson sold 19,136 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $81.30, for a total transaction of $1,555,756.80. Following the completion of the transaction, the director now directly owns 14,874 shares of the company’s stock, valued at $1,209,256.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AAON news, Director Norman H. Asbjornson sold 19,136 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $81.30, for a total value of $1,555,756.80. Following the transaction, the director now directly owns 14,874 shares of the company’s stock, valued at $1,209,256.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Norman H. Asbjornson sold 805 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $80.01, for a total transaction of $64,408.05. Following the sale, the director now directly owns 53,093 shares of the company’s stock, valued at approximately $4,247,970.93. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,596 shares of company stock worth $3,613,768. Company insiders own 18.55% of the company’s stock.

Institutional Investors Weigh In On AAON

Hedge funds and other institutional investors have recently modified their holdings of the stock. TFO Wealth Partners LLC bought a new stake in AAON during the fourth quarter valued at about $27,000. GAMMA Investing LLC purchased a new position in AAON during the fourth quarter valued at approximately $36,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of AAON in the fourth quarter worth approximately $39,000. Operose Advisors LLC purchased a new stake in shares of AAON in the third quarter worth $31,000. Finally, CI Investments Inc. raised its position in shares of AAON by 50.9% during the 3rd quarter. CI Investments Inc. now owns 617 shares of the construction company’s stock valued at $35,000 after purchasing an additional 208 shares during the period. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

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.