Neuberger Berman Group LLC Lowers Holdings in AAON, Inc. $AAON

Neuberger Berman Group LLC trimmed its position in AAON, Inc. (NASDAQ:AAON) by 13.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,937 shares of the construction company’s stock after selling 6,418 shares during the period. Neuberger Berman Group LLC’s holdings in AAON were worth $3,732,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Intellectus Partners LLC purchased a new stake in shares of AAON in the third quarter worth $229,000. Smith Moore & CO. increased its stake in AAON by 7.2% in the 3rd quarter. Smith Moore & CO. now owns 3,546 shares of the construction company’s stock worth $331,000 after acquiring an additional 237 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of AAON by 127.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 46,884 shares of the construction company’s stock valued at $4,381,000 after acquiring an additional 26,272 shares in the last quarter. Champlain Investment Partners LLC raised its holdings in shares of AAON by 96.4% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,320,319 shares of the construction company’s stock valued at $216,811,000 after acquiring an additional 1,138,658 shares in the last quarter. Finally, Journey Strategic Wealth LLC bought a new stake in shares of AAON during the 3rd quarter valued at about $237,000. Institutional investors own 70.81% of the company’s stock.

AAON Stock Down 4.4%

Shares of AAON opened at $88.33 on Friday. AAON, Inc. has a 1 year low of $62.00 and a 1 year high of $116.04. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.63 and a quick ratio of 2.03. The stock has a 50 day simple moving average of $92.47 and a two-hundred day simple moving average of $91.10. The firm has a market cap of $7.20 billion, a P/E ratio of 67.95, a P/E/G ratio of 2.49 and a beta of 1.09.

AAON (NASDAQ:AAON) last posted its quarterly earnings results on Monday, March 2nd. The construction company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.06). The business had revenue of $424.22 million for the quarter, compared to analysts’ expectations of $374.10 million. AAON had a return on equity of 13.13% and a net margin of 7.46%.The company’s revenue was up 42.5% compared to the same quarter last year. During the same period last year, the business posted $0.30 earnings per share. On average, analysts forecast that AAON, Inc. will post 2.26 earnings per share for the current fiscal year.

AAON Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Wednesday, March 18th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.5%. The ex-dividend date is Wednesday, March 18th. AAON’s dividend payout ratio is presently 30.77%.

Wall Street Analyst Weigh In

AAON has been the topic of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of AAON in a research report on Wednesday, January 21st. DA Davidson reiterated a “buy” rating and set a $120.00 target price on shares of AAON in a research report on Tuesday, February 3rd. William Blair reissued an “outperform” rating on shares of AAON in a research note on Monday, March 2nd. Wall Street Zen raised shares of AAON from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $118.00 price objective (up from $115.00) on shares of AAON in a report on Tuesday. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $107.75.

Insider Activity

In related news, EVP Stephen E. Wakefield acquired 4,141 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were purchased at an average price of $77.59 per share, for a total transaction of $321,300.19. Following the completion of the acquisition, the executive vice president owned 15,212 shares in the company, valued at approximately $1,180,299.08. This represents a 37.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 18.70% of the company’s stock.

AAON Profile

AAON, Inc (NASDAQ: AAON) is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company’s product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.

AAON’s core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.