Nicolet Advisory Services LLC Buys 493 Shares of AAON, Inc. (NASDAQ:AAON)

Nicolet Advisory Services LLC lifted its stake in shares of AAON, Inc. (NASDAQ:AAON) by 6.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 8,409 shares of the construction company’s stock after acquiring an additional 493 shares during the period. Nicolet Advisory Services LLC’s holdings in AAON were worth $1,027,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Norges Bank acquired a new stake in AAON in the 4th quarter worth approximately $76,581,000. Raymond James Financial Inc. acquired a new stake in shares of AAON in the fourth quarter worth $73,313,000. Franklin Resources Inc. boosted its holdings in shares of AAON by 258.8% during the 3rd quarter. Franklin Resources Inc. now owns 330,397 shares of the construction company’s stock worth $37,014,000 after buying an additional 238,308 shares during the period. Clearbridge Investments LLC acquired a new position in AAON in the 4th quarter valued at $19,750,000. Finally, JPMorgan Chase & Co. lifted its position in AAON by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company’s stock worth $351,615,000 after acquiring an additional 150,207 shares during the last quarter. Institutional investors own 70.81% of the company’s stock.

Wall Street Analyst Weigh In

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

AAON Stock Performance

Shares of NASDAQ AAON opened at $82.72 on Thursday. The firm has a market capitalization of $6.75 billion, a price-to-earnings ratio of 36.44 and a beta of 1.00. AAON, Inc. has a one year low of $69.52 and a one year high of $144.07. The business has a fifty day simple moving average of $96.56 and a 200 day simple moving average of $112.43. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07.

AAON Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.48%. This is an increase from AAON’s previous quarterly dividend of $0.08. The ex-dividend date was Tuesday, March 18th. AAON’s dividend payout ratio (DPR) is presently 19.90%.

AAON announced that its board has authorized a stock buyback program on Tuesday, March 4th that permits the company to repurchase $30.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 0.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Insider Activity

In related news, Director David Raymond Stewart bought 1,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average cost of $80.86 per share, with a total value of $80,860.00. Following the acquisition, the director now owns 3,000 shares in the company, valued at approximately $242,580. This represents a 50.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 18.55% of the stock is owned by company insiders.

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.