Decade Renewable Partners LP Buys Shares of 20,807 AAON, Inc. (NASDAQ:AAON)

Decade Renewable Partners LP purchased a new stake in shares of AAON, Inc. (NASDAQ:AAON) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 20,807 shares of the construction company’s stock, valued at approximately $2,449,000. AAON comprises about 1.2% of Decade Renewable Partners LP’s holdings, making the stock its 27th largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in AAON. Vanguard Group Inc. lifted its holdings in AAON by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 6,239,482 shares of the construction company’s stock valued at $734,262,000 after purchasing an additional 75,832 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of AAON by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company’s stock valued at $351,615,000 after buying an additional 150,207 shares in the last quarter. Invesco Ltd. boosted its holdings in AAON by 15.6% in the 4th quarter. Invesco Ltd. now owns 2,032,497 shares of the construction company’s stock worth $239,184,000 after buying an additional 274,119 shares during the period. Geode Capital Management LLC grew its stake in AAON by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,237,680 shares of the construction company’s stock valued at $145,692,000 after buying an additional 3,644 shares in the last quarter. Finally, Blair William & Co. IL raised its holdings in AAON by 4.2% during the 4th quarter. Blair William & Co. IL now owns 1,169,782 shares of the construction company’s stock valued at $137,660,000 after acquiring an additional 47,254 shares during the period. Institutional investors own 70.81% of the company’s stock.

Insider Transactions at AAON

In other news, Director David Raymond Stewart bought 1,000 shares of the business’s stock in a transaction 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 completion of the purchase, the director now directly owns 3,000 shares in the company, valued at $242,580. This represents a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 18.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AAON has been the subject of several recent research reports. StockNews.com cut AAON from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. CJS Securities upgraded AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research report on Friday, February 28th. Robert W. Baird cut their price objective on shares of AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. Finally, DA Davidson decreased their target price on shares of AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $115.50.

AAON Trading Up 2.4 %

Shares of AAON opened at $87.94 on Monday. AAON, Inc. has a 1-year low of $68.98 and a 1-year high of $144.07. The company has a market capitalization of $7.15 billion, a P/E ratio of 38.74 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. The firm’s 50 day simple moving average is $83.24 and its 200 day simple moving average is $109.09.

AAON announced that its Board of Directors has authorized a share buyback 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 an indication that the company’s board believes its stock is undervalued.

AAON Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, March 18th. This represents a $0.40 annualized dividend and a dividend yield of 0.45%. This is a boost from AAON’s previous quarterly dividend of $0.08. AAON’s dividend payout ratio (DPR) is 19.90%.

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.