Comprehensive Financial Planning Inc. PA Takes $272,000 Position in Argan, Inc. (NYSE:AGX)

Comprehensive Financial Planning Inc. PA purchased a new position in shares of Argan, Inc. (NYSE:AGX) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 1,987 shares of the construction company’s stock, valued at approximately $272,000.

A number of other large investors have also recently made changes to their positions in the company. Creative Planning lifted its stake in Argan by 70.6% in the second quarter. Creative Planning now owns 10,095 shares of the construction company’s stock worth $739,000 after purchasing an additional 4,179 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Argan by 76.2% in the second quarter. Truist Financial Corp now owns 12,552 shares of the construction company’s stock worth $918,000 after buying an additional 5,430 shares during the period. CWM LLC lifted its stake in shares of Argan by 81.4% during the 3rd quarter. CWM LLC now owns 4,456 shares of the construction company’s stock worth $452,000 after acquiring an additional 1,999 shares during the last quarter. Inspire Investing LLC purchased a new position in Argan during the 3rd quarter valued at $416,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Argan in the 3rd quarter valued at $43,000. 79.43% of the stock is owned by hedge funds and other institutional investors.

Argan Stock Down 0.3 %

AGX opened at $161.67 on Monday. The stock’s fifty day moving average is $150.71 and its two-hundred day moving average is $121.70. The company has a market capitalization of $2.19 billion, a P/E ratio of 33.82 and a beta of 0.56. Argan, Inc. has a 52 week low of $44.69 and a 52 week high of $191.46.

Argan (NYSE:AGX) last announced its quarterly earnings results on Thursday, December 5th. The construction company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.26 by $0.74. Argan had a return on equity of 21.66% and a net margin of 8.20%. The firm had revenue of $257.00 million for the quarter, compared to analyst estimates of $225.60 million. The business’s quarterly revenue was up 56.9% on a year-over-year basis.

Argan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 23rd were issued a $0.375 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $1.50 annualized dividend and a dividend yield of 0.93%. Argan’s dividend payout ratio is currently 31.38%.

Insider Transactions at Argan

In other news, CEO David Hibbert Watson sold 10,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $146.05, for a total value of $1,460,500.00. Following the completion of the transaction, the chief executive officer now directly owns 51,291 shares of the company’s stock, valued at approximately $7,491,050.55. The trade was a 16.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter W. Getsinger sold 800 shares of the firm’s 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 sale, the director now directly owns 19,177 shares in the company, valued at approximately $2,977,037.48. The trade was a 4.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,185 shares of company stock valued at $3,105,359. Company insiders own 11.85% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Lake Street Capital downgraded Argan from a “buy” rating to a “hold” rating and lifted their target price for the stock from $85.00 to $150.00 in a research report on Tuesday, December 3rd. StockNews.com lowered shares of Argan from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. Finally, CJS Securities reissued a “market perform” rating and issued a $150.00 price objective on shares of Argan in a research report on Friday, December 6th.

About Argan

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.