Invesco Ltd. Decreases Holdings in Argan, Inc. (NYSE:AGX)

Invesco Ltd. lowered its position in Argan, Inc. (NYSE:AGX) by 6.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,820 shares of the construction company’s stock after selling 13,095 shares during the quarter. Invesco Ltd. owned approximately 1.38% of Argan worth $25,739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Spire Wealth Management purchased a new stake in shares of Argan in the 4th quarter valued at $26,000. Farther Finance Advisors LLC bought a new position in shares of Argan during the fourth quarter valued at about $32,000. Global Retirement Partners LLC bought a new position in shares of Argan during the fourth quarter valued at about $35,000. Truvestments Capital LLC bought a new stake in shares of Argan in the 4th quarter valued at about $57,000. Finally, Federated Hermes Inc. boosted its holdings in Argan by 1,123.5% during the 4th quarter. Federated Hermes Inc. now owns 416 shares of the construction company’s stock valued at $57,000 after acquiring an additional 382 shares during the period. 79.43% of the stock is currently owned by institutional investors.

Argan Trading Down 1.7 %

AGX stock opened at $146.19 on Friday. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 30.58 and a beta of 0.45. The firm’s 50-day moving average price is $130.57 and its two-hundred day moving average price is $139.22. Argan, Inc. has a 12-month low of $60.03 and a 12-month high of $191.46.

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

Argan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 22nd will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Tuesday, April 22nd. Argan’s payout ratio is currently 24.55%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Argan

In related news, Director Peter W. Getsinger sold 5,000 shares of the business’s stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $145.03, for a total transaction of $725,150.00. Following the transaction, the director now owns 11,496 shares in the company, valued at $1,667,264.88. The trade was a 30.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 11.85% of the company’s stock.

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.