Connor Clark & Lunn Investment Management Ltd. boosted its position in AAON, Inc. (NASDAQ:AAON - Free Report) by 51.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 74,876 shares of the construction company's stock after buying an additional 25,476 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.09% of AAON worth $8,811,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Mather Group LLC. grew its holdings in shares of AAON by 521.6% in the 4th quarter. Mather Group LLC. now owns 230 shares of the construction company's stock valued at $27,000 after acquiring an additional 193 shares in the last quarter. Westside Investment Management Inc. bought a new stake in shares of AAON during the 3rd quarter worth approximately $36,000. UMB Bank n.a. boosted its holdings in shares of AAON by 67.5% in the 4th quarter. UMB Bank n.a. now owns 325 shares of the construction company's stock valued at $38,000 after buying an additional 131 shares during the last quarter. Blue Trust Inc. grew its stake in shares of AAON by 28.4% in the fourth quarter. Blue Trust Inc. now owns 380 shares of the construction company's stock valued at $41,000 after buying an additional 84 shares in the last quarter. Finally, Empowered Funds LLC acquired a new position in AAON during the fourth quarter worth $42,000. Institutional investors own 70.81% of the company's stock.
AAON Price Performance
NASDAQ AAON traded up $1.68 during midday trading on Wednesday, hitting $81.48. The company had a trading volume of 1,036,950 shares, compared to its average volume of 663,651. The company has a market capitalization of $6.65 billion, a PE ratio of 35.89 and a beta of 1.00. The firm has a 50-day moving average price of $106.90 and a 200-day moving average price of $113.34. AAON, Inc. has a twelve month low of $69.52 and a twelve month high of $144.07. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07.
AAON declared that its Board of Directors has approved a share buyback plan on Tuesday, March 4th that permits the company to repurchase $30.00 million in shares. This repurchase authorization permits the construction company to purchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its shares are undervalued.
AAON Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th will be issued a $0.10 dividend. This is a positive change from AAON's previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 0.49%. The ex-dividend date is Tuesday, March 18th. AAON's dividend payout ratio (DPR) is currently 19.90%.
Insider Activity
In related news, Director David Raymond Stewart acquired 1,000 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average price of $80.86 per share, with a total value of $80,860.00. Following the purchase, the director now directly owns 3,000 shares in the company, valued at approximately $242,580. This trade represents a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 18.55% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have commented on AAON shares. Robert W. Baird cut their price target on shares of AAON from $155.00 to $116.00 and set an "outperform" rating for the company in a research note on Friday, February 28th. CJS Securities upgraded AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price target for the company in a report on Friday, February 28th. StockNews.com lowered AAON from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. Finally, DA Davidson reduced their target price on AAON from $150.00 to $125.00 and set a "buy" rating for the company in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $115.50.
Check Out Our Latest Research Report on AAON
AAON Company Profile
(
Free Report)
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.
Read More
Before you consider AAON, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AAON wasn't on the list.
While AAON currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
