Next Century Growth Investors LLC Raises Stock Position in AAON, Inc. (NASDAQ:AAON)

Next Century Growth Investors LLC increased its position in AAON, Inc. (NASDAQ:AAON - Free Report) by 26.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 149,467 shares of the construction company's stock after buying an additional 31,455 shares during the quarter. AAON accounts for approximately 1.3% of Next Century Growth Investors LLC's investment portfolio, making the stock its 24th largest position. Next Century Growth Investors LLC owned approximately 0.18% of AAON worth $17,589,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Norges Bank bought a new position in shares of AAON during the 4th quarter worth approximately $76,581,000. Raymond James Financial Inc. bought a new stake in shares of AAON in the 4th quarter worth approximately $73,313,000. Invesco Ltd. boosted its position in AAON by 15.6% during the fourth quarter. Invesco Ltd. now owns 2,032,497 shares of the construction company's stock worth $239,184,000 after purchasing an additional 274,119 shares during the period. Franklin Resources Inc. boosted its holdings in shares of AAON by 258.8% in the third quarter. Franklin Resources Inc. now owns 330,397 shares of the construction company's stock worth $37,014,000 after acquiring an additional 238,308 shares during the period. Finally, Clearbridge Investments LLC bought a new position in AAON in the 4th quarter worth about $19,750,000. Institutional investors own 70.81% of the company's stock.

Insider Activity

In other news, Director David Raymond Stewart acquired 1,000 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average cost of $80.86 per share, with a total value of $80,860.00. Following the transaction, the director now owns 3,000 shares of the company's stock, valued at $242,580. This trade represents a 50.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 18.55% of the company's stock.

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AAON Stock Down 2.3 %

Shares of NASDAQ:AAON traded down $1.92 during trading on Tuesday, hitting $82.09. The stock had a trading volume of 838,130 shares, compared to its average volume of 723,508. The company has a market capitalization of $6.70 billion, a PE ratio of 36.16 and a beta of 0.96. 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 firm's fifty day moving average is $88.74 and its 200 day moving average is $110.70. AAON, Inc. has a 12 month low of $68.98 and a 12 month high of $144.07.

AAON announced that its board has approved a stock repurchase program on Tuesday, March 4th that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the construction company to purchase up to 0.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its shares are undervalued.

AAON Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th were paid a dividend of $0.10 per share. This is an increase from AAON's previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.49%. AAON's dividend payout ratio (DPR) is currently 19.90%.

Wall Street Analyst Weigh In

AAON has been the subject of a number of research analyst reports. DA Davidson dropped their price target on AAON from $150.00 to $125.00 and set a "buy" rating for the company in a research report on Friday, February 28th. StockNews.com cut AAON from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. Robert W. Baird reduced 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. Finally, CJS Securities upgraded shares of 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AAON presently has an average rating of "Moderate Buy" and an average price target of $115.50.

AAON 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.