Envestnet Portfolio Solutions Inc. Has $338,000 Position in AAON, Inc. (NASDAQ:AAON)

Envestnet Portfolio Solutions Inc. boosted its position in shares of AAON, Inc. (NASDAQ:AAON) by 42.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,876 shares of the construction company’s stock after purchasing an additional 861 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in AAON were worth $338,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Mather Group LLC. grew its position in shares of AAON by 521.6% during the 4th quarter. Mather Group LLC. now owns 230 shares of the construction company’s stock worth $27,000 after buying an additional 193 shares during the period. Westside Investment Management Inc. bought a new stake in shares of AAON during the 3rd quarter valued at $36,000. UMB Bank n.a. raised its position in shares of AAON by 67.5% during the 4th quarter. UMB Bank n.a. now owns 325 shares of the construction company’s stock valued at $38,000 after acquiring an additional 131 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of AAON by 28.4% in the 4th quarter. Blue Trust Inc. now owns 380 shares of the construction company’s stock valued at $41,000 after purchasing an additional 84 shares during the period. Finally, Empowered Funds LLC bought a new position in shares of AAON in the 4th quarter worth $42,000. 70.81% of the stock is currently owned by institutional investors.

AAON Price Performance

Shares of AAON opened at $80.24 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06. The firm has a market capitalization of $6.55 billion, a PE ratio of 35.35 and a beta of 1.00. The stock has a 50 day simple moving average of $100.79 and a 200 day simple moving average of $112.60. AAON, Inc. has a 52-week low of $69.52 and a 52-week high of $144.07.

AAON Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Tuesday, March 18th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.50%. This is a positive change from AAON’s previous quarterly dividend of $0.08. The ex-dividend date is Tuesday, March 18th. AAON’s dividend payout ratio (DPR) is presently 19.90%.

AAON announced that its board has initiated a share buyback plan on Tuesday, March 4th that allows the company to repurchase $30.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AAON shares. Robert W. Baird dropped their price objective on AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a report on Friday, February 28th. DA Davidson cut their price target on shares of AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. StockNews.com cut shares of AAON from a “hold” rating to a “sell” rating in a 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 target price on the stock in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $115.50.

Insider Activity at AAON

In other news, Director David Raymond Stewart bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average price of $80.86 per share, with a total value of $80,860.00. Following the transaction, the director now 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 18.55% of the stock is currently owned by insiders.

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.