Argan, Inc. (NYSE:AGX) Shares Purchased by LPL Financial LLC

LPL Financial LLC raised its position in Argan, Inc. (NYSE:AGX) by 138.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,142 shares of the construction company’s stock after buying an additional 15,167 shares during the quarter. LPL Financial LLC owned approximately 0.19% of Argan worth $3,582,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. American Century Companies Inc. raised its holdings 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 valued at $65,869,000 after buying an additional 73,654 shares during the last quarter. JPMorgan Chase & Co. increased its position in Argan by 70.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 37,819 shares of the construction company’s stock valued at $3,836,000 after acquiring an additional 15,681 shares during the period. Principal Financial Group Inc. purchased a new stake in Argan during the 3rd quarter valued at approximately $1,373,000. Victory Capital Management Inc. lifted its position in Argan by 28.5% during the 4th quarter. Victory Capital Management Inc. now owns 17,515 shares of the construction company’s stock worth $2,400,000 after acquiring an additional 3,880 shares during the period. Finally, Intech Investment Management LLC lifted its position in Argan by 95.7% during the 4th quarter. Intech Investment Management LLC now owns 6,543 shares of the construction company’s stock worth $897,000 after acquiring an additional 3,199 shares during the period. Hedge funds and other institutional investors own 79.43% of the company’s stock.

Argan Stock Down 3.0 %

Shares of NYSE:AGX opened at $137.68 on Friday. Argan, Inc. has a fifty-two week low of $48.96 and a fifty-two week high of $191.46. The firm’s 50-day simple moving average is $131.04 and its 200-day simple moving average is $137.51. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 28.80 and a beta of 0.45.

Argan (NYSE:AGX) last announced its quarterly earnings data on Thursday, March 27th. The construction company reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $1.07. The company had revenue of $232.47 million for the quarter, compared to analyst estimates of $197.50 million. Argan had a return on equity of 21.66% and a net margin of 8.20%. The business’s quarterly revenue was up 41.3% compared to the same quarter last year.

Insiders Place Their Bets

In other Argan news, Director Peter W. Getsinger sold 7,385 shares of the business’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $165.29, for a total transaction of $1,220,666.65. Following the sale, the director now directly owns 11,792 shares in the company, valued at approximately $1,949,099.68. The trade was a 38.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 11.85% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital raised Argan from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Friday, March 28th.

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.