Invesco Ltd. Has $25.74 Million Stock Holdings in Argan, Inc. (NYSE:AGX)

Invesco Ltd. lessened its holdings in shares of Argan, Inc. (NYSE:AGX - Free Report) by 6.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 187,820 shares of the construction company's stock after selling 13,095 shares during the quarter. Invesco Ltd. owned 1.38% of Argan worth $25,739,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Spire Wealth Management bought a new stake in shares of Argan during the fourth quarter worth $26,000. Farther Finance Advisors LLC acquired a new stake in shares of Argan in the 4th quarter valued at about $32,000. Global Retirement Partners LLC acquired a new position in shares of Argan during the fourth quarter worth about $35,000. Truvestments Capital LLC bought a new position in shares of Argan during the fourth quarter worth about $57,000. Finally, Federated Hermes Inc. lifted its stake in Argan by 1,123.5% in 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 in the last quarter. Institutional investors own 79.43% of the company's stock.

Insider Activity at Argan

In related news, Director Peter W. Getsinger sold 5,000 shares of Argan stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $145.03, for a total value of $725,150.00. Following the transaction, the director now directly owns 11,496 shares of the company's stock, valued at $1,667,264.88. This trade represents a 30.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 11.85% of the stock is owned by insiders.

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 objective on the stock in a report on Friday, March 28th.

Argan Price Performance

AGX traded up $4.65 during trading on Thursday, hitting $146.01. The stock had a trading volume of 55,091 shares, compared to its average volume of 298,501. The company has a 50 day moving average price of $129.74 and a 200-day moving average price of $139.83. Argan, Inc. has a one year low of $60.03 and a one year high of $191.46. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 30.44 and a beta of 0.45.

Argan (NYSE:AGX - Get Free Report) last issued 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. 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 firm's revenue for the quarter was up 41.3% on a year-over-year basis.

Argan Dividend Announcement

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

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.