2,126 Shares in Argan, Inc. (NYSE:AGX) Purchased by PFG Advisors

PFG Advisors bought a new position in Argan, Inc. (NYSE:AGX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,126 shares of the construction company's stock, valued at approximately $291,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Spire Wealth Management purchased a new position in Argan in the 4th quarter worth $26,000. Global Retirement Partners LLC purchased a new position in Argan in the 4th quarter worth $35,000. KBC Group NV purchased a new position in shares of Argan during the 4th quarter valued at about $93,000. FMR LLC raised its stake in shares of Argan by 68.2% during the 3rd quarter. FMR LLC now owns 1,033 shares of the construction company's stock valued at $105,000 after buying an additional 419 shares during the last quarter. Finally, Amundi raised its stake in shares of Argan by 8.6% during the 4th quarter. Amundi now owns 859 shares of the construction company's stock valued at $118,000 after buying an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 79.43% of the company's stock.

Argan Trading Up 3.9 %

Shares of NYSE AGX traded up $4.60 during trading on Wednesday, reaching $122.09. 245,392 shares of the company traded hands, compared to its average volume of 257,530. Argan, Inc. has a 12-month low of $48.85 and a 12-month high of $191.46. The firm's fifty day simple moving average is $142.66 and its 200 day simple moving average is $132.71. The stock has a market cap of $1.66 billion, a P/E ratio of 25.54 and a beta of 0.58.

Remove Ads

Insider Activity at Argan

In related news, Director Peter W. Getsinger sold 800 shares of Argan stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $155.24, for a total value of $124,192.00. Following the completion of the transaction, the director now owns 19,177 shares in the company, valued at $2,977,037.48. The trade was a 4.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard H. Deily sold 2,000 shares of Argan stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $150.00, for a total value of $300,000.00. Following the completion of 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 disclosure for this sale can be found here. Insiders sold a total of 10,185 shares of company stock worth $1,644,859 in the last 90 days. Corporate insiders own 11.85% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Lake Street Capital lowered Argan from a "buy" rating to a "hold" rating and lifted their price objective for the company from $85.00 to $150.00 in a research note on Tuesday, December 3rd. CJS Securities reiterated a "market perform" rating and set a $150.00 price objective on shares of Argan in a research note on Friday, December 6th.

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.