Conestoga Capital Advisors LLC Sells 505,776 Shares of AAON, Inc. $AAON

Conestoga Capital Advisors LLC lessened its position in shares of AAON, Inc. (NASDAQ:AAON) by 28.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,270,237 shares of the construction company’s stock after selling 505,776 shares during the quarter. AAON comprises 2.1% of Conestoga Capital Advisors LLC’s portfolio, making the stock its 21st biggest holding. Conestoga Capital Advisors LLC’s holdings in AAON were worth $105,112,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in shares of AAON by 44.3% during the 4th quarter. Wellington Management Group LLP now owns 6,839,277 shares of the construction company’s stock worth $521,495,000 after acquiring an additional 2,099,385 shares in the last quarter. Wasatch Advisors LP increased its position in AAON by 23.8% in the first quarter. Wasatch Advisors LP now owns 2,268,118 shares of the construction company’s stock worth $187,687,000 after purchasing an additional 436,704 shares during the last quarter. First Trust Advisors LP increased its position in AAON by 136.4% in the third quarter. First Trust Advisors LP now owns 1,933,595 shares of the construction company’s stock worth $180,675,000 after purchasing an additional 1,115,566 shares during the last quarter. Capital International Investors raised its stake in AAON by 50.9% during the third quarter. Capital International Investors now owns 1,471,792 shares of the construction company’s stock valued at $137,524,000 after purchasing an additional 496,581 shares in the last quarter. Finally, Impax Asset Management Group plc lifted its position in AAON by 53.2% during the fourth quarter. Impax Asset Management Group plc now owns 1,403,648 shares of the construction company’s stock valued at $107,028,000 after purchasing an additional 487,601 shares during the last quarter. Institutional investors own 70.81% of the company’s stock.

Insider Activity

In related news, Director Gary D. Fields sold 31,271 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $134.07, for a total transaction of $4,192,502.97. Following the transaction, the director directly owned 34,252 shares in the company, valued at approximately $4,592,165.64. This represents a 47.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Casey Kidwell sold 3,153 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $138.30, for a total transaction of $436,059.90. Following the completion of the sale, the insider directly owned 13,463 shares in the company, valued at $1,861,932.90. This trade represents a 18.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 150,473 shares of company stock valued at $19,516,213 in the last quarter. 18.09% of the stock is currently owned by company insiders.

AAON Stock Performance

NASDAQ AAON opened at $116.42 on Thursday. The business’s 50 day moving average price is $126.01 and its 200-day moving average price is $101.56. AAON, Inc. has a fifty-two week low of $62.00 and a fifty-two week high of $150.46. The company has a market cap of $9.54 billion, a P/E ratio of 81.41, a P/E/G ratio of 3.55 and a beta of 1.41. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.75 and a current ratio of 2.62.

AAON (NASDAQ:AAON) last issued its quarterly earnings results on Thursday, May 7th. The construction company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.17. AAON had a return on equity of 13.67% and a net margin of 7.30%.The company had revenue of $496.94 million during the quarter, compared to the consensus estimate of $381.08 million. During the same period last year, the company earned $0.37 earnings per share. AAON’s revenue was up 54.3% on a year-over-year basis. Sell-side analysts predict that AAON, Inc. will post 2.23 earnings per share for the current year.

AAON Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.3%. AAON’s payout ratio is currently 27.97%.

Analyst Ratings Changes

AAON has been the subject of a number of recent research reports. Oppenheimer reissued an “outperform” rating on shares of AAON in a research note on Friday, May 8th. Zacks Research raised shares of AAON from a “hold” rating to a “strong-buy” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, AAON has an average rating of “Buy” and an average target price of $112.00.

AAON Company 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.