3,778 Shares in Argan, Inc. $AGX Purchased by Invst LLC

Invst LLC acquired a new stake in Argan, Inc. (NYSE:AGX) in the 2nd quarter, Holdings Channel reports. The firm acquired 3,778 shares of the construction company’s stock, valued at approximately $3,017,000.

Several other institutional investors also recently modified their holdings of the company. Western Wealth Management LLC bought a new stake in Argan in the 1st quarter valued at $25,000. Danske Bank A S bought a new stake in Argan in the third quarter valued at about $27,000. Montag A & Associates Inc. acquired a new position in Argan in the fourth quarter worth about $30,000. University of Texas Texas AM Investment Management Co. bought a new position in Argan during the fourth quarter worth about $30,000. Finally, Hilton Head Capital Partners LLC bought a new position in Argan during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 79.43% of the company’s stock.

Argan Price Performance

Shares of AGX opened at $450.21 on Wednesday. The company has a market capitalization of $6.31 billion, a P/E ratio of 39.56 and a beta of 0.61. Argan, Inc. has a one year low of $197.00 and a one year high of $805.75. The business’s 50 day simple moving average is $624.07 and its 200-day simple moving average is $582.53.

Argan (NYSE:AGX) last released its quarterly earnings results on Thursday, June 4th. The construction company reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.93. Argan had a return on equity of 36.89% and a net margin of 15.48%.The firm had revenue of $290.95 million during the quarter, compared to analysts’ expectations of $256.03 million. During the same period last year, the firm posted $1.60 EPS. The business’s revenue was up 50.2% on a year-over-year basis. On average, sell-side analysts anticipate that Argan, Inc. will post 12.6 EPS for the current fiscal year.

Argan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Thursday, July 23rd were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Thursday, July 23rd. Argan’s dividend payout ratio (DPR) is currently 17.57%.

Insider Buying and Selling

In other news, Director Cynthia Flanders sold 2,596 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $666.31, for a total transaction of $1,729,740.76. Following the sale, the director owned 23,144 shares of the company’s stock, valued at $15,421,078.64. This trade represents a 10.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman William F. Griffin, Jr. sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $643.46, for a total value of $32,173,000.00. Following the completion of the transaction, the chairman owned 90,976 shares of the company’s stock, valued at $58,539,416.96. This represents a 35.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 127,973 shares of company stock worth $87,554,828 over the last ninety days. Insiders own 2.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AGX. Zacks Research lowered Argan from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Lake Street Capital boosted their price target on Argan from $375.00 to $600.00 and gave the company a “hold” rating in a research note on Friday, June 5th. Weiss Ratings cut Argan from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen downgraded shares of Argan from a “buy” rating to a “hold” rating in a research note on Saturday. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $470.40.

Argan Company Profile

Argan, Inc (NYSE: AGX) is a holding company that provides professional technical and management services to the power generation and renewable energy industries. Through its wholly owned subsidiaries, the company delivers engineering, procurement and construction management (EPCM), commissioning and operations and maintenance (O&M) services for a broad range of energy facilities. Argan focuses on projects for utility, industrial and municipally owned clients, helping to bring efficient thermal and renewable energy plants into operation and maintain optimal performance over the asset life cycle.

The company’s principal subsidiaries include Gemma Power Systems, which specializes in turnkey construction of combined-cycle, simple-cycle, cogeneration and renewable energy plants; Atlantic Projects Company, which provides electrical balance-of-plant, control systems, instrumentation and commissioning services; and Infrastructure Solutions, which offers industrial maintenance, outage support and modification services.