Harvest Investment Services LLC Purchases Shares of 8,789 Argan, Inc. (NYSE:AGX)

Harvest Investment Services LLC bought a new position in shares of Argan, Inc. (NYSE:AGX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 8,789 shares of the construction company's stock, valued at approximately $1,204,000. Harvest Investment Services LLC owned approximately 0.06% of Argan as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of AGX. Renaissance Technologies LLC increased its stake in shares of Argan by 21.0% in the 4th quarter. Renaissance Technologies LLC now owns 672,579 shares of the construction company's stock valued at $92,170,000 after purchasing an additional 116,783 shares during the last quarter. Thames Capital Management LLC lifted its position in shares of Argan by 286.8% during the 4th quarter. Thames Capital Management LLC now owns 117,384 shares of the construction company's stock worth $16,086,000 after buying an additional 87,038 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Argan by 80.3% in the fourth quarter. Bank of New York Mellon Corp now owns 186,437 shares of the construction company's stock valued at $25,549,000 after buying an additional 83,039 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Argan by 37.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 295,349 shares of the construction company's stock valued at $40,475,000 after acquiring an additional 80,844 shares during the last quarter. Finally, Soros Capital Management LLC acquired a new position in Argan during the fourth quarter worth about $10,340,000. Institutional investors own 79.43% of the company's stock.

Insider Activity at Argan

In other news, Director Peter W. Getsinger sold 2,292 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $150.35, for a total value of $344,602.20. Following the transaction, the director now owns 9,500 shares in the company, valued at approximately $1,428,325. The trade was a 19.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 11.85% of the stock is currently owned by company insiders.

Argan Trading Up 1.7 %

AGX traded up $2.46 during trading on Friday, reaching $151.12. 243,122 shares of the company's stock were exchanged, compared to its average volume of 300,571. Argan, Inc. has a one year low of $60.03 and a one year high of $191.46. The firm has a fifty day moving average price of $129.74 and a two-hundred day moving average price of $140.10. The stock has a market capitalization of $2.06 billion, a PE ratio of 31.61 and a beta of 0.45.

Argan (NYSE:AGX - Get Free Report) last issued 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. The company had revenue of $232.47 million for the quarter, compared to analysts' expectations of $197.50 million. Argan had a net margin of 8.20% and a return on equity of 21.66%. The business's quarterly revenue was up 41.3% on a year-over-year basis.

Argan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 22nd will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Tuesday, April 22nd. Argan's dividend payout ratio is currently 24.55%.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital upgraded shares of 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.

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.