SteelPeak Wealth LLC Sells 1,821 Shares of Argan, Inc. $AGX

SteelPeak Wealth LLC decreased its position in Argan, Inc. (NYSE:AGX) by 19.3% during the 4th quarter, Holdings Channel reports. The firm owned 7,615 shares of the construction company’s stock after selling 1,821 shares during the period. SteelPeak Wealth LLC’s holdings in Argan were worth $2,386,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Millennium Management LLC boosted its position in Argan by 12.2% during the 1st quarter. Millennium Management LLC now owns 117,805 shares of the construction company’s stock valued at $15,452,000 after buying an additional 12,854 shares during the period. NewEdge Advisors LLC increased its position in shares of Argan by 118.3% in the first quarter. NewEdge Advisors LLC now owns 5,316 shares of the construction company’s stock valued at $697,000 after acquiring an additional 2,881 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Argan by 13.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,567 shares of the construction company’s stock valued at $4,665,000 after acquiring an additional 4,196 shares during the last quarter. Intech Investment Management LLC raised its stake in shares of Argan by 37.3% during the first quarter. Intech Investment Management LLC now owns 8,985 shares of the construction company’s stock valued at $1,179,000 after acquiring an additional 2,442 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Argan by 1.5% during the second quarter. Legal & General Group Plc now owns 16,184 shares of the construction company’s stock worth $3,568,000 after purchasing an additional 245 shares during the period. 79.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AGX has been the subject of several research analyst reports. Zacks Research upgraded Argan from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 31st. Lake Street Capital lifted their target price on shares of Argan from $325.00 to $375.00 and gave the company a “hold” rating in a report on Friday, March 27th. CJS Securities raised shares of Argan to a “hold” rating in a report on Thursday, December 11th. The Goldman Sachs Group increased their price objective on Argan from $399.00 to $518.00 and gave the company a “buy” rating in a research report on Friday, March 27th. Finally, Wall Street Zen upgraded shares of Argan from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Argan presently has a consensus rating of “Moderate Buy” and an average target price of $425.40.

Insider Buying and Selling at Argan

In other Argan news, Director Peter W. Getsinger sold 6,595 shares of the stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $313.71, for a total transaction of $2,068,917.45. Following the completion of the transaction, the director owned 7,847 shares in the company, valued at $2,461,682.37. This trade represents a 45.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Ronald Jr. Jeffrey sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $360.78, for a total transaction of $1,803,900.00. Following the completion of the sale, the director owned 8,192 shares in the company, valued at approximately $2,955,509.76. This trade represents a 37.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 61,852 shares of company stock valued at $23,673,413. 6.69% of the stock is owned by company insiders.

Argan Stock Down 0.2%

Shares of Argan stock opened at $573.82 on Friday. Argan, Inc. has a twelve month low of $111.16 and a twelve month high of $588.00. The business has a 50-day moving average price of $437.11 and a 200-day moving average price of $359.06. The firm has a market cap of $8.00 billion, a price-to-earnings ratio of 58.91 and a beta of 0.46.

Argan (NYSE:AGX) last posted its earnings results on Thursday, March 26th. The construction company reported $3.47 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $1.48. Argan had a return on equity of 33.62% and a net margin of 14.59%.The company had revenue of $262.05 million for the quarter, compared to the consensus estimate of $255.32 million. During the same period in the previous year, the business earned $2.22 earnings per share. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis.

Argan Company Profile

Argan, Inc (NYSE: AGX) is a holding company that provides professional technical and management services to the power generation and renewable energy industries. Through its wholly owned subsidiaries, the company delivers engineering, procurement and construction management (EPCM), commissioning and operations and maintenance (O&M) services for a broad range of energy facilities. Argan focuses on projects for utility, industrial and municipally owned clients, helping to bring efficient thermal and renewable energy plants into operation and maintain optimal performance over the asset life cycle.

The company’s principal subsidiaries include Gemma Power Systems, which specializes in turnkey construction of combined-cycle, simple-cycle, cogeneration and renewable energy plants; Atlantic Projects Company, which provides electrical balance-of-plant, control systems, instrumentation and commissioning services; and Infrastructure Solutions, which offers industrial maintenance, outage support and modification services.