Argan, Inc. (NYSE:AGX) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. lessened its holdings in Argan, Inc. (NYSE:AGX - Free Report) by 35.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,679 shares of the construction company's stock after selling 5,225 shares during the quarter. Prudential Financial Inc. owned 0.07% of Argan worth $1,326,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Amundi raised its position in shares of Argan by 8.6% during the 4th quarter. Amundi now owns 859 shares of the construction company's stock worth $118,000 after purchasing an additional 68 shares during the last quarter. Savant Capital LLC lifted its stake in shares of Argan by 1.3% in the 4th quarter. Savant Capital LLC now owns 10,552 shares of the construction company's stock valued at $1,446,000 after purchasing an additional 133 shares in the last quarter. Hillsdale Investment Management Inc. grew its stake in Argan by 0.6% during the fourth quarter. Hillsdale Investment Management Inc. now owns 26,763 shares of the construction company's stock worth $3,668,000 after buying an additional 150 shares during the period. Spire Wealth Management acquired a new position in shares of Argan during the 4th quarter valued at $26,000. Finally, Farther Finance Advisors LLC purchased a new stake in Argan during the 4th quarter worth $32,000. 79.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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Insider Activity at Argan

In other news, Director Peter W. Getsinger sold 800 shares of the company's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $155.24, for a total transaction of $124,192.00. Following the completion of the transaction, the director now directly owns 19,177 shares of the company's stock, valued at approximately $2,977,037.48. This represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.85% of the stock is owned by corporate insiders.

Argan Trading Down 1.0 %

NYSE:AGX traded down $1.35 on Thursday, reaching $140.63. The stock had a trading volume of 45,495 shares, compared to its average volume of 288,332. Argan, Inc. has a 12-month low of $48.85 and a 12-month high of $191.46. The company has a 50-day moving average of $130.96 and a 200 day moving average of $137.22. The stock has a market cap of $1.92 billion, a P/E ratio of 29.42 and a beta of 0.45.

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

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.