Decade Renewable Partners LP Makes New Investment in AAON, Inc. (NASDAQ:AAON)

Decade Renewable Partners LP bought a new position in shares of AAON, Inc. (NASDAQ:AAON) in the fourth quarter, HoldingsChannel reports. The firm bought 20,807 shares of the construction company’s stock, valued at approximately $2,449,000. AAON accounts for 1.2% of Decade Renewable Partners LP’s investment portfolio, making the stock its 27th largest holding.

Several other institutional investors and hedge funds have also bought and sold shares of AAON. Barclays PLC grew its holdings in shares of AAON by 182.2% during the 3rd quarter. Barclays PLC now owns 84,472 shares of the construction company’s stock worth $9,111,000 after acquiring an additional 54,535 shares during the period. Westside Investment Management Inc. purchased a new stake in AAON during the third quarter valued at $36,000. Wilmington Savings Fund Society FSB bought a new stake in shares of AAON during the 3rd quarter valued at about $43,000. Tidal Investments LLC increased its position in shares of AAON by 5.7% during the 3rd quarter. Tidal Investments LLC now owns 13,534 shares of the construction company’s stock valued at $1,460,000 after purchasing an additional 732 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of AAON by 258.8% in the third 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 last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. DA Davidson reduced their target price 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. Robert W. Baird cut their price objective on AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. 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 research note on Friday, February 28th. Finally, StockNews.com cut shares of AAON from a “hold” rating to a “sell” rating in a research note 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $115.50.

Insider Buying and Selling at AAON

In other news, Director David Raymond Stewart bought 1,000 shares of AAON stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average cost of $80.86 per share, with a total value of $80,860.00. Following the completion of the acquisition, the director now owns 3,000 shares of the company’s stock, 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. 18.55% of the stock is currently owned by insiders.

AAON Trading Up 2.4 %

AAON stock opened at $87.94 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. AAON, Inc. has a 1-year low of $68.98 and a 1-year high of $144.07. The business has a 50 day simple moving average of $83.24 and a two-hundred day simple moving average of $109.09. The company has a market capitalization of $7.15 billion, a price-to-earnings ratio of 38.74 and a beta of 0.96.

AAON Increases Dividend

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

AAON announced that its board has initiated a share 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 of directors believes its stock is undervalued.

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.