VIRGINIA RETIREMENT SYSTEMS ET Al Invests $2.06 Million in AAON, Inc. $AAON

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

Other hedge funds and other institutional investors also recently bought and sold shares of the company. California State Teachers Retirement System raised its holdings in shares of AAON by 12,636.0% during the second quarter. California State Teachers Retirement System now owns 10,244,326 shares of the construction company’s stock worth $1,299,595,000 after purchasing an additional 10,163,890 shares during the last quarter. NI Acquisitions Company LLC purchased a new stake in AAON in the second quarter valued at $102,000. AlphaGrep UK Ltd acquired a new stake in AAON during the 2nd quarter worth about $533,000. Nykredit A S acquired a new stake in AAON during the 2nd quarter worth about $306,000. Finally, B. Metzler seel. Sohn & Co. AG raised its stake in shares of AAON by 17.7% during the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 70,851 shares of the construction company’s stock valued at $8,988,000 after buying an additional 10,653 shares during the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AAON shares. KeyCorp reissued a “sector weight” rating on shares of AAON in a report on Thursday, August 13th. Oppenheimer dropped their target price on AAON from $145.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, August 11th. Weiss Ratings reissued a “hold (c)” rating on shares of AAON in a report on Tuesday, July 14th. DA Davidson upgraded AAON to a “strong-buy” rating in a research report on Thursday. Finally, Robert W. Baird dropped their price objective on shares of AAON from $150.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $126.67.

Insiders Place Their Bets

In related news, EVP Matthew Shaub purchased 457 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were purchased at an average cost of $76.42 per share, with a total value of $34,923.94. Following the purchase, the executive vice president owned 3,136 shares of the company’s stock, valued at $239,653.12. This represents a 17.06% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 18.09% of the company’s stock.

AAON Price Performance

AAON stock opened at $79.79 on Friday. The stock has a market capitalization of $6.58 billion, a P/E ratio of 41.56, a P/E/G ratio of 1.45 and a beta of 1.41. The company’s fifty day moving average price is $91.46 and its 200 day moving average price is $103.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.01 and a current ratio of 3.01. AAON, Inc. has a 1 year low of $73.19 and a 1 year high of $150.46.

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

AAON Announces Dividend

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

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.