Argan, Inc. (NYSE:AGX) Shares Sold by Aviva PLC

Aviva PLC reduced its holdings in shares of Argan, Inc. (NYSE:AGX - Free Report) by 43.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 4,141 shares of the construction company's stock after selling 3,186 shares during the period. Aviva PLC's holdings in Argan were worth $567,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Bank of New York Mellon Corp grew its position in Argan by 80.3% in the 4th quarter. Bank of New York Mellon Corp now owns 186,437 shares of the construction company's stock valued at $25,549,000 after buying an additional 83,039 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Argan by 37.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 295,349 shares of the construction company's stock worth $40,475,000 after purchasing an additional 80,844 shares in the last quarter. American Century Companies Inc. lifted its position in Argan by 18.1% in the fourth quarter. American Century Companies Inc. now owns 480,658 shares of the construction company's stock valued at $65,869,000 after purchasing an additional 73,654 shares during the period. Lord Abbett & CO. LLC purchased a new position in shares of Argan during the 3rd quarter worth approximately $6,687,000. Finally, WCM Investment Management LLC purchased a new stake in shares of Argan in the fourth quarter valued at approximately $8,241,000. 79.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Argan Price Performance

AGX traded up $2.38 during trading on Wednesday, reaching $148.25. 89,882 shares of the stock were exchanged, compared to its average volume of 443,614. Argan, Inc. has a 1 year low of $59.16 and a 1 year high of $191.46. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 30.93 and a beta of 0.45. The business's 50 day moving average price is $131.16 and its two-hundred day moving average price is $138.52.

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

Argan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 22nd will be given a $0.375 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $1.50 annualized dividend and a dividend yield of 1.01%. Argan's dividend 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.