Aviva PLC Has $567,000 Holdings in Argan, Inc. (NYSE:AGX)

Aviva PLC cut its stake in Argan, Inc. (NYSE:AGX - Free Report) by 43.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,141 shares of the construction company's stock after selling 3,186 shares during the period. Aviva PLC's holdings in Argan were worth $567,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of AGX. Integrated Quantitative Investments LLC bought a new stake in Argan during the 4th quarter worth about $456,000. Thoroughbred Financial Services LLC raised its holdings in Argan by 34.3% during the fourth quarter. Thoroughbred Financial Services LLC now owns 8,411 shares of the construction company's stock worth $1,152,000 after acquiring an additional 2,150 shares in the last quarter. ExodusPoint Capital Management LP boosted its position in Argan by 141.1% during the fourth quarter. ExodusPoint Capital Management LP now owns 6,499 shares of the construction company's stock valued at $891,000 after purchasing an additional 3,803 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Argan by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 292,956 shares of the construction company's stock worth $40,156,000 after purchasing an additional 5,710 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Argan by 26.1% in the 4th quarter. Franklin Resources Inc. now owns 28,261 shares of the construction company's stock valued at $3,873,000 after buying an additional 5,855 shares during the last quarter. Institutional investors and hedge funds own 79.43% of the company's stock.

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Insider Transactions at Argan

In other Argan news, Director Peter W. Getsinger sold 7,385 shares of the company's stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $165.29, for a total value of $1,220,666.65. Following the transaction, the director now directly owns 11,792 shares of the company's stock, valued at $1,949,099.68. This represents a 38.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 11.85% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Argan Price Performance

NYSE AGX traded down $0.44 during trading on Monday, reaching $147.73. 427,968 shares of the company's stock were exchanged, compared to its average volume of 291,482. The business has a 50 day moving average price of $131.41 and a 200-day moving average price of $138.14. The stock has a market capitalization of $2.01 billion, a P/E ratio of 30.91 and a beta of 0.45. Argan, Inc. has a fifty-two week low of $58.00 and a fifty-two week high of $191.46.

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

Argan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 22nd will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Tuesday, April 22nd. Argan's payout ratio is 24.55%.

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.