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

Envestnet Portfolio Solutions Inc. grew its position in AAON, Inc. (NASDAQ:AAON) by 42.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in 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 purchasing an additional 150,207 shares during the period. State Street Corp boosted its position in shares of AAON by 0.6% in the third quarter. State Street Corp now owns 1,977,531 shares of the construction company’s stock valued at $213,257,000 after acquiring an additional 12,502 shares during the period. Wasatch Advisors LP grew its stake in shares of AAON by 39.1% in the third quarter. Wasatch Advisors LP now owns 1,866,746 shares of the construction company’s stock worth $201,310,000 after acquiring an additional 525,132 shares during the last quarter. FMR LLC increased its position in AAON by 9.6% during the third quarter. FMR LLC now owns 1,729,498 shares of the construction company’s stock worth $186,509,000 after acquiring an additional 151,540 shares during the period. Finally, Geode Capital Management LLC raised its stake in AAON by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,234,036 shares of the construction company’s stock valued at $133,110,000 after purchasing an additional 6,338 shares during the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. DA Davidson decreased 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. 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 note on Friday, February 28th. Robert W. Baird reduced their price objective on AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. Finally, StockNews.com cut AAON from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AAON currently has an average rating of “Moderate Buy” and a consensus target price of $115.50.

AAON Trading Down 1.5 %

AAON stock opened at $80.24 on Friday. AAON, Inc. has a 1-year low of $69.52 and a 1-year high of $144.07. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average is $100.79 and its 200-day moving average is $112.60. The firm has a market cap of $6.55 billion, a P/E ratio of 35.35 and a beta of 1.00.

AAON Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th will be issued a $0.10 dividend. This is a positive change from AAON’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.40 annualized dividend and a dividend yield of 0.50%. AAON’s dividend payout ratio is presently 19.90%.

AAON declared that its board has initiated a share buyback plan 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 shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at AAON

In other AAON news, Director David Raymond Stewart acquired 1,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was purchased at an average price of $80.86 per share, for a total transaction of $80,860.00. Following the transaction, the director now owns 3,000 shares in the company, valued at $242,580. This trade represents a 50.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 18.55% of the company’s stock.

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.