Wealth Enhancement Advisory Services LLC Makes New Investment in AAON, Inc. (NASDAQ:AAON)

Wealth Enhancement Advisory Services LLC acquired a new stake in shares of AAON, Inc. (NASDAQ:AAON) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,787 shares of the construction company’s stock, valued at approximately $210,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HUB Investment Partners LLC raised its stake in AAON by 5.2% in the 4th quarter. HUB Investment Partners LLC now owns 2,016 shares of the construction company’s stock worth $237,000 after acquiring an additional 100 shares during the last quarter. Smith Moore & CO. raised its stake in AAON by 3.1% in the 4th quarter. Smith Moore & CO. now owns 3,300 shares of the construction company’s stock worth $388,000 after acquiring an additional 100 shares during the last quarter. Curi RMB Capital LLC raised its stake in AAON by 0.5% in the 4th quarter. Curi RMB Capital LLC now owns 18,503 shares of the construction company’s stock worth $2,177,000 after acquiring an additional 100 shares during the last quarter. Quarry LP raised its stake in AAON by 49.0% in the 4th quarter. Quarry LP now owns 313 shares of the construction company’s stock worth $37,000 after acquiring an additional 103 shares during the last quarter. Finally, Ascent Wealth Partners LLC raised its stake in AAON by 0.4% in the 4th quarter. Ascent Wealth Partners LLC now owns 29,881 shares of the construction company’s stock worth $3,516,000 after acquiring an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Wall Street Analysts Forecast Growth

AAON has been the subject of a number of research analyst reports. Wall Street Zen lowered AAON from a “hold” rating to a “sell” rating in a research note on Saturday. Robert W. Baird cut their price target on AAON from $155.00 to $116.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th. Sidoti raised AAON from a “neutral” rating to a “buy” rating and set a $95.00 price target on the stock in a research report on Monday. DA Davidson cut their price target on AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Finally, CJS Securities raised AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.50.

AAON Price Performance

NASDAQ:AAON opened at $73.71 on Tuesday. AAON, Inc. has a 52 week low of $68.98 and a 52 week high of $144.07. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $6.00 billion, a PE ratio of 32.47 and a beta of 1.03. The stock’s 50-day moving average price is $91.66 and its 200-day moving average price is $102.10.

AAON (NASDAQ:AAON) last posted its earnings results on Wednesday, April 30th. The construction company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.13. AAON had a return on equity of 24.98% and a net margin of 15.78%. The firm had revenue of $322.05 million for the quarter, compared to analysts’ expectations of $289.16 million. During the same period last year, the firm earned $0.46 EPS. The company’s quarterly revenue was up 22.9% on a year-over-year basis. As a group, equities analysts expect that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Friday, June 6th. AAON’s dividend payout ratio (DPR) is presently 21.05%.

AAON announced that its board has approved a stock buyback plan on Tuesday, March 4th that permits the company to buyback $30.00 million in outstanding shares. This buyback authorization permits the construction company to reacquire up to 0.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other AAON news, Director Gordon Douglas Wichman sold 3,975 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $105.75, for a total value of $420,356.25. Following the transaction, the director now directly owns 8,754 shares of the company’s stock, valued at $925,735.50. This trade represents a 31.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gary D. Fields sold 8,357 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $98.66, for a total transaction of $824,501.62. Following the completion of the transaction, the chief executive officer now directly owns 26,491 shares in the company, valued at $2,613,602.06. This trade represents a 23.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,823 shares of company stock worth $7,122,451 in the last ninety days. Company insiders own 18.70% of the company’s stock.

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.