Congress Wealth Management LLC DE Sells 10,880 Shares of Argan, Inc. (NYSE:AGX)

Congress Wealth Management LLC DE trimmed its position in shares of Argan, Inc. (NYSE:AGX - Free Report) by 68.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,000 shares of the construction company's stock after selling 10,880 shares during the period. Congress Wealth Management LLC DE's holdings in Argan were worth $685,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in Argan by 70.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 37,819 shares of the construction company's stock valued at $3,836,000 after buying an additional 15,681 shares in the last quarter. American Century Companies Inc. grew its stake in Argan by 18.1% during the fourth quarter. American Century Companies Inc. now owns 480,658 shares of the construction company's stock valued at $65,869,000 after acquiring an additional 73,654 shares in the last quarter. Principal Financial Group Inc. bought a new stake in Argan in the 3rd quarter valued at $1,373,000. Victory Capital Management Inc. increased its holdings in Argan by 28.5% in the 4th quarter. Victory Capital Management Inc. now owns 17,515 shares of the construction company's stock valued at $2,400,000 after acquiring an additional 3,880 shares during the last quarter. Finally, Intech Investment Management LLC lifted its stake in Argan by 95.7% in the 4th quarter. Intech Investment Management LLC now owns 6,543 shares of the construction company's stock worth $897,000 after purchasing an additional 3,199 shares in the last quarter. Hedge funds and other institutional investors own 79.43% of the company's stock.

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Analyst Upgrades and Downgrades

AGX has been the subject of several research analyst reports. CJS Securities restated a "market perform" rating and set a $150.00 price target on shares of Argan in a report on Friday, December 6th. 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 report on Friday, March 28th.

Argan Stock Performance

AGX stock traded up $4.01 during mid-day trading on Wednesday, reaching $138.44. 44,686 shares of the stock traded hands, compared to its average volume of 277,330. Argan, Inc. has a one year low of $48.85 and a one year high of $191.46. The stock has a market capitalization of $1.89 billion, a PE ratio of 28.85 and a beta of 0.58. The business has a 50-day moving average price of $134.12 and a two-hundred day moving average price of $135.69.

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

Insider Activity at Argan

In other news, CFO Richard H. Deily sold 2,000 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $150.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now owns 9,367 shares of the company's stock, valued at approximately $1,405,050. This represents a 17.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter W. Getsinger sold 800 shares of Argan stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $155.24, for a total value of $124,192.00. Following the completion of the sale, the director now owns 19,177 shares of the company's stock, valued at $2,977,037.48. The trade was a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,185 shares of company stock worth $1,644,859 in the last 90 days. 11.85% of the stock is owned by corporate insiders.

Argan Company Profile

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.