Conestoga Capital Advisors LLC Sells 186,035 Shares of AAON, Inc. $AAON

Conestoga Capital Advisors LLC cut its stake in AAON, Inc. (NASDAQ:AAON) by 18.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 829,790 shares of the construction company’s stock after selling 186,035 shares during the period. AAON accounts for approximately 2.1% of Conestoga Capital Advisors LLC’s portfolio, making the stock its 17th largest position. Conestoga Capital Advisors LLC’s holdings in AAON were worth $68,673,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AAON. Kestra Private Wealth Services LLC raised its stake in AAON by 4.7% during the third quarter. Kestra Private Wealth Services LLC now owns 6,714 shares of the construction company’s stock worth $556,000 after purchasing an additional 300 shares during the period. Ascent Group LLC grew its stake in shares of AAON by 0.8% during the 3rd quarter. Ascent Group LLC now owns 66,092 shares of the construction company’s stock valued at $5,470,000 after buying an additional 515 shares during the period. Associated Banc Corp purchased a new stake in shares of AAON during the 3rd quarter valued at $231,000. Prescott Group Capital Management L.L.C. purchased a new stake in shares of AAON during the 3rd quarter valued at $4,966,000. Finally, Integrity Alliance LLC. acquired a new stake in shares of AAON during the 3rd quarter worth $1,006,000. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Oppenheimer reaffirmed an “outperform” rating and issued a $115.00 target price (down from $125.00) on shares of AAON in a research report on Wednesday, October 14th. KeyCorp reissued a “sector weight” rating on shares of AAON in a research report on Thursday, August 13th. DA Davidson started coverage on AAON in a research report on Tuesday, September 15th. They set a “buy” rating and a $110.00 price target for the company. Robert W. Baird dropped their price target on AAON from $150.00 to $135.00 and set an “outperform” rating for the company in a research note on Tuesday, August 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of AAON in a report on Monday, October 12th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, AAON presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.00.

AAON Price Performance

Shares of NASDAQ AAON opened at $58.25 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 2.01. AAON, Inc. has a 1-year low of $54.73 and a 1-year high of $150.46. The company has a market capitalization of $4.80 billion, a price-to-earnings ratio of 35.79, a PEG ratio of 1.28 and a beta of 1.45. The business has a 50-day moving average of $77.92 and a 200-day moving average of $97.35.

AAON (NASDAQ:AAON) last announced its earnings results on Monday, August 10th. The construction company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.51 by $0.18. The business had revenue of $626.98 million for the quarter, compared to the consensus estimate of $508.82 million. AAON had a return on equity of 17.32% and a net margin of 8.24%. The company’s revenue was up 101.2% on a year-over-year basis. During the same period last year, the business posted $0.22 EPS. On average, equities analysts anticipate that AAON, Inc. will post 2.35 EPS for the current fiscal year.

AAON Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 4th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, September 4th. AAON’s dividend payout ratio is currently 20.83%.

Insider Activity at AAON

In other news, Director David Stewart acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, September 15th. The shares were bought at an average price of $74.66 per share, for a total transaction of $74,660.00. Following the completion of the purchase, the director directly owned 4,000 shares of the company’s stock, valued at approximately $298,640. This trade represents a 33.33% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Matthew Shaub bought 457 shares of AAON stock in a transaction dated Friday, August 28th. The shares were purchased at an average cost of $76.42 per share, for a total transaction of $34,923.94. Following the completion of the transaction, the executive vice president owned 3,136 shares of the company’s stock, valued at approximately $239,653.12. This represents a 17.06% increase in their position. The SEC filing for this purchase provides additional information. 18.09% of the stock is owned by company insiders.

AAON Company Profile

AAON, Inc designs and manufactures high-performance heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. Its product portfolio includes rooftop units, air-handling units, condensing units, chillers, geothermal heat pumps and related HVAC controls.

The company’s systems are used in applications such as office buildings, schools, healthcare facilities, retail properties, manufacturing plants and other commercial structures. AAON emphasizes configurable equipment, energy efficiency and integrated controls designed to support indoor comfort and air quality.

AAON was founded in 1988 by Norman H.