William Blair Equities Analysts Decrease Earnings Estimates for AAON, Inc. (NASDAQ:AAON)

AAON, Inc. (NASDAQ:AAON) – Stock analysts at William Blair lowered their Q2 2024 EPS estimates for shares of AAON in a report issued on Friday, May 3rd. William Blair analyst R. Merkel now forecasts that the construction company will earn $0.53 per share for the quarter, down from their previous estimate of $0.58. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for AAON’s current full-year earnings is $2.27 per share. William Blair also issued estimates for AAON’s Q3 2024 earnings at $0.61 EPS, FY2024 earnings at $2.25 EPS, Q1 2025 earnings at $0.58 EPS, Q2 2025 earnings at $0.68 EPS, Q3 2025 earnings at $0.78 EPS, Q4 2025 earnings at $0.80 EPS and FY2025 earnings at $2.84 EPS.

AAON Trading Up 3.0 %

Shares of NASDAQ AAON opened at $78.46 on Monday. AAON has a one year low of $52.24 and a one year high of $96.34. The business has a 50-day moving average price of $85.89 and a two-hundred day moving average price of $74.94. The firm has a market capitalization of $6.45 billion, a PE ratio of 36.55 and a beta of 0.88.

AAON (NASDAQ:AAON) last issued its earnings results on Thursday, May 2nd. The construction company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.07). The business had revenue of $262.10 million during the quarter, compared to analyst estimates of $284.76 million. AAON had a return on equity of 25.84% and a net margin of 15.44%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period last year, the business earned $0.45 EPS.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AAON. Vanguard Group Inc. boosted its holdings in AAON by 57.2% in the third quarter. Vanguard Group Inc. now owns 7,489,640 shares of the construction company’s stock worth $425,936,000 after purchasing an additional 2,725,779 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of AAON during the 4th quarter worth about $22,784,000. Conestoga Capital Advisors LLC increased its holdings in shares of AAON by 0.8% during the 4th quarter. Conestoga Capital Advisors LLC now owns 3,354,242 shares of the construction company’s stock valued at $247,778,000 after acquiring an additional 25,178 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of AAON by 75.7% in the 3rd quarter. Lazard Asset Management LLC now owns 33,189 shares of the construction company’s stock valued at $1,887,000 after acquiring an additional 14,303 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in shares of AAON by 49.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 89,210 shares of the construction company’s stock valued at $5,073,000 after acquiring an additional 29,704 shares in the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

Insider Activity at AAON

In other AAON news, Director Norman H. Asbjornson sold 805 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $80.01, for a total value of $64,408.05. Following the completion of the sale, the director now owns 53,093 shares in the company, valued at approximately $4,247,970.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Norman H. Asbjornson sold 805 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $80.01, for a total transaction of $64,408.05. Following the completion of the sale, the director now directly owns 53,093 shares of the company’s stock, valued at approximately $4,247,970.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Norman H. Asbjornson sold 19,136 shares of AAON stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $81.30, for a total value of $1,555,756.80. Following the sale, the director now owns 14,874 shares of the company’s stock, valued at $1,209,256.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,596 shares of company stock valued at $3,613,768. Corporate insiders own 18.55% of the company’s stock.

AAON Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Friday, March 15th. AAON’s dividend payout ratio is currently 14.91%.

About AAON

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.