LPL Financial LLC Grows Stock Holdings in Argan, Inc. (NYSE:AGX)

LPL Financial LLC boosted its position in Argan, Inc. (NYSE:AGX - Free Report) by 138.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,142 shares of the construction company's stock after purchasing an additional 15,167 shares during the period. LPL Financial LLC owned 0.19% of Argan worth $3,582,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. American Century Companies Inc. lifted its stake 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 buying an additional 73,654 shares during the period. State Street Corp boosted its position in shares of Argan by 4.8% during the 3rd quarter. State Street Corp now owns 353,984 shares of the construction company's stock worth $35,905,000 after purchasing an additional 16,055 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Argan by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 287,246 shares of the construction company's stock valued at $29,141,000 after buying an additional 1,553 shares during the period. Bank of New York Mellon Corp increased 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 in the last quarter. Finally, Barclays PLC raised its stake in Argan by 46.6% during the 3rd quarter. Barclays PLC now owns 66,341 shares of the construction company's stock worth $6,728,000 after buying an additional 21,094 shares during the period. 79.43% of the stock is currently owned by institutional investors.

Argan Stock Up 1.4 %

Shares of NYSE:AGX traded up $2.02 during midday trading on Wednesday, reaching $147.89. 60,344 shares of the company traded hands, compared to its average volume of 290,814. Argan, Inc. has a 12 month low of $58.73 and a 12 month high of $191.46. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 30.87 and a beta of 0.45. The firm's fifty 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 released its quarterly earnings results on Thursday, March 27th. The construction company reported $2.22 earnings per share 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 the consensus estimate of $197.50 million. Argan had a return on equity of 21.66% and a net margin of 8.20%. The business's revenue was up 41.3% compared to the same quarter last year.

Argan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 22nd will be given a dividend of $0.375 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $1.50 annualized dividend and a yield of 1.01%. Argan's payout ratio is 24.55%.

Wall Street Analysts Forecast Growth

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

Argan 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.