Trek Financial LLC Has $473,000 Stake in Argan, Inc. $AGX

Trek Financial LLC lessened its stake in shares of Argan, Inc. (NYSE:AGX) by 32.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,510 shares of the construction company’s stock after selling 736 shares during the period. Trek Financial LLC’s holdings in Argan were worth $473,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Swiss Life Asset Management Ltd acquired a new position in shares of Argan during the 4th quarter valued at $377,000. NewEdge Wealth LLC lifted its position in shares of Argan by 13.1% during the 4th quarter. NewEdge Wealth LLC now owns 7,714 shares of the construction company’s stock valued at $2,417,000 after acquiring an additional 892 shares during the period. Maxi Investments CY Ltd acquired a new position in shares of Argan during the 4th quarter valued at $1,504,000. International Assets Investment Management LLC acquired a new position in shares of Argan during the 4th quarter valued at $238,000. Finally, Hidden Cove Wealth Management LLC acquired a new position in shares of Argan during the 4th quarter valued at $279,000. Institutional investors and hedge funds own 79.43% of the company’s stock.

Insider Buying and Selling at Argan

In other Argan news, Director John Ronald Jr. Jeffrey sold 2,698 shares of the business’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $664.84, for a total transaction of $1,793,738.32. Following the completion of the sale, the director owned 2,000 shares in the company, valued at approximately $1,329,680. The trade was a 57.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William F. Leimkuhler sold 800 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $619.88, for a total transaction of $495,904.00. Following the sale, the director owned 500 shares of the company’s stock, valued at $309,940. This trade represents a 61.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 64,543 shares of company stock worth $39,054,956 in the last ninety days. 6.69% of the stock is currently owned by corporate insiders.

Argan Trading Up 5.7%

Shares of AGX stock opened at $720.09 on Thursday. The firm has a market capitalization of $10.04 billion, a PE ratio of 73.93 and a beta of 0.61. The firm has a fifty day simple moving average of $563.37 and a two-hundred day simple moving average of $426.94. Argan, Inc. has a 12 month low of $176.97 and a 12 month high of $742.30.

Argan (NYSE:AGX) last announced its quarterly earnings results on Thursday, March 26th. The construction company reported $3.47 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $1.48. The business had revenue of $262.05 million during the quarter, compared to analyst estimates of $255.32 million. Argan had a net margin of 14.59% and a return on equity of 33.62%. Argan’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.22 EPS. On average, equities analysts predict that Argan, Inc. will post 11.44 earnings per share for the current fiscal year.

Argan announced that its board has initiated a stock buyback program on Wednesday, April 8th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the construction company to buy up to 2.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Argan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Wednesday, April 22nd were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Wednesday, April 22nd. Argan’s payout ratio is 20.53%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AGX shares. Freedom Capital upgraded shares of Argan to a “hold” rating in a research report on Tuesday, March 10th. The Goldman Sachs Group boosted their target price on shares of Argan from $399.00 to $518.00 and gave the company a “buy” rating in a research report on Friday, March 27th. Zacks Research upgraded shares of Argan from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Argan in a research report on Monday, April 6th. Finally, Wall Street Zen upgraded shares of Argan from a “hold” rating to a “buy” rating in a research report on Saturday, March 28th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Argan presently has an average rating of “Moderate Buy” and a consensus target price of $425.40.

Argan 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.