Envestnet Asset Management Inc. Lowers Holdings in AAON, Inc. (NASDAQ:AAON)

Envestnet Asset Management Inc. trimmed its holdings in AAON, Inc. (NASDAQ:AAON) by 8.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 313,558 shares of the construction company’s stock after selling 27,320 shares during the quarter. Envestnet Asset Management Inc. owned 0.39% of AAON worth $24,498,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. HUB Investment Partners LLC grew its stake in shares of AAON by 5.2% in the 4th quarter. HUB Investment Partners LLC now owns 2,016 shares of the construction company’s stock valued at $237,000 after buying an additional 100 shares during the period. Smith Moore & CO. grew its stake in shares of AAON by 3.1% in the 4th quarter. Smith Moore & CO. now owns 3,300 shares of the construction company’s stock valued at $388,000 after buying an additional 100 shares during the period. Curi RMB Capital LLC grew its stake in shares of AAON by 0.5% in the 4th quarter. Curi RMB Capital LLC now owns 18,503 shares of the construction company’s stock valued at $2,177,000 after buying an additional 100 shares during the period. Quarry LP grew its stake in shares of AAON by 49.0% in the 4th quarter. Quarry LP now owns 313 shares of the construction company’s stock valued at $37,000 after buying an additional 103 shares during the period. Finally, Parallel Advisors LLC grew its stake in shares of AAON by 26.3% in the 1st quarter. Parallel Advisors LLC now owns 716 shares of the construction company’s stock valued at $56,000 after buying an additional 149 shares during the period. 70.81% of the stock is owned by hedge funds and other institutional investors.

AAON Trading Down 0.3%

AAON stock opened at $74.25 on Wednesday. The firm’s 50-day moving average is $86.52 and its 200-day moving average is $94.32. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.80 and a current ratio of 2.77. AAON, Inc. has a 1 year low of $68.98 and a 1 year high of $144.07. The company has a market cap of $6.04 billion, a P/E ratio of 39.08 and a beta of 0.95.

AAON (NASDAQ:AAON) last issued its quarterly earnings data on Wednesday, April 30th. The construction company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.13. AAON had a net margin of 12.60% and a return on equity of 20.23%. The firm had revenue of $322.05 million for the quarter, compared to the consensus estimate of $289.16 million. During the same period last year, the firm posted $0.46 EPS. AAON’s quarterly revenue was up 22.9% compared to the same quarter last year. On average, equities analysts expect that AAON, Inc. will post 2.26 earnings per share for the current year.

AAON Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 6th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.40 annualized dividend and a dividend yield of 0.54%. AAON’s dividend payout ratio is currently 21.05%.

Insider Activity at AAON

In related news, Director Gordon Douglas Wichman sold 21,302 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $104.48, for a total transaction of $2,225,632.96. Following the completion of the sale, the director directly owned 8,754 shares in the company, valued at approximately $914,617.92. This trade represents a 70.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gary D. Fields sold 37,189 shares of AAON stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $98.20, for a total transaction of $3,651,959.80. Following the completion of the sale, the chief executive officer owned 63,714 shares of the company’s stock, valued at $6,256,714.80. This trade represents a 36.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 70,823 shares of company stock worth $7,122,451 in the last ninety days. Corporate insiders own 18.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AAON. Sidoti raised shares of AAON from a “neutral” rating to a “buy” rating and set a $95.00 price objective for the company in a research report on Monday, June 16th. Wall Street Zen raised shares of AAON from a “sell” rating to a “hold” rating in a research report on Saturday, July 5th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $111.50.

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.