Argan, Inc. (NYSE:AGX) Shares Sold by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE lessened its stake in shares of Argan, Inc. (NYSE:AGX) by 68.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,000 shares of the construction company’s stock after selling 10,880 shares during the period. Congress Wealth Management LLC DE’s holdings in Argan were worth $685,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Argan by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 843,583 shares of the construction company’s stock worth $115,605,000 after purchasing an additional 16,784 shares during the period. LPL Financial LLC increased its stake in Argan by 138.2% in the 4th quarter. LPL Financial LLC now owns 26,142 shares of the construction company’s stock worth $3,582,000 after purchasing an additional 15,167 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Argan during the fourth quarter valued at about $1,220,000. Hillsdale Investment Management Inc. boosted its holdings in shares of Argan by 0.6% in the fourth quarter. Hillsdale Investment Management Inc. now owns 26,763 shares of the construction company’s stock worth $3,668,000 after buying an additional 150 shares during the period. Finally, American Century Companies Inc. increased its position in shares of Argan by 18.1% in the fourth quarter. American Century Companies Inc. now owns 480,658 shares of the construction company’s stock worth $65,869,000 after acquiring an additional 73,654 shares in the last quarter. 79.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AGX. CJS Securities restated a “market perform” rating and issued a $150.00 price target on shares of Argan in a research report on Friday, December 6th. Lake Street Capital raised Argan from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research report on Friday.

Insider Buying and Selling at Argan

In other Argan news, Director Peter W. Getsinger sold 7,385 shares of Argan stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $165.29, for a total value of $1,220,666.65. Following the completion of the sale, the director now directly owns 11,792 shares in the company, valued at $1,949,099.68. The trade was a 38.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard H. Deily sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $150.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 9,367 shares of the company’s stock, valued at $1,405,050. This represents a 17.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,185 shares of company stock worth $1,644,859 over the last 90 days. 11.85% of the stock is currently owned by corporate insiders.

Argan Price Performance

NYSE AGX opened at $138.81 on Friday. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 29.04 and a beta of 0.58. The company has a 50 day simple moving average of $136.07 and a 200-day simple moving average of $134.44. Argan, Inc. has a 52-week low of $48.85 and a 52-week high of $191.46.

Argan (NYSE:AGX) last released its earnings results on Thursday, March 27th. The construction company reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $1.07. Argan had a net margin of 8.20% and a return on equity of 21.66%. The company had revenue of $232.47 million during the quarter, compared to the consensus estimate of $197.50 million. The company’s revenue was up 41.3% on a year-over-year basis.

About Argan

Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, maintenance, project development, and technical consulting services to the power generation market. The company operates through Power Services, Industrial Services, and Telecom Services segments. The Power Services segment offers engineering, procurement, and construction, as well as designing, building, and commissioning of large-scale energy projects to the owners of alternative energy facilities, such as biomass plants, wind farms, and solar fields; and design, construction, project management, start-up, and operation services for projects with approximately 18 gigawatts of power-generating capacity.