Argan, Inc. $AGX Stock Position Lessened by Capital Fund Management S.A.

Capital Fund Management S.A. trimmed its holdings in shares of Argan, Inc. (NYSE:AGX) by 8.9% during the third quarter, Holdings Channel.com reports. The firm owned 42,343 shares of the construction company’s stock after selling 4,116 shares during the quarter. Capital Fund Management S.A.’s holdings in Argan were worth $11,435,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of AGX. Aster Capital Management DIFC Ltd acquired a new stake in Argan in the third quarter worth about $25,000. Accredited Wealth Management LLC acquired a new position in shares of Argan during the third quarter valued at approximately $32,000. Eastern Bank bought a new stake in Argan during the third quarter worth approximately $55,000. Federated Hermes Inc. raised its holdings in Argan by 22.0% during the third quarter. Federated Hermes Inc. now owns 255 shares of the construction company’s stock worth $69,000 after purchasing an additional 46 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Argan by 1,116.7% in the second quarter. EverSource Wealth Advisors LLC now owns 365 shares of the construction company’s stock worth $80,000 after purchasing an additional 335 shares during the period. 79.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on AGX. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $370.00 price target (up from $315.00) on shares of Argan in a research report on Monday, December 1st. CJS Securities raised Argan to a “hold” rating in a research note on Thursday, December 11th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Argan in a report on Wednesday, December 24th. Zacks Research cut shares of Argan from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Finally, Lake Street Capital lowered shares of Argan from a “buy” rating to a “hold” rating and raised their price objective for the company from $260.00 to $325.00 in a research report on Friday, December 5th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $355.20.

Argan Stock Performance

Shares of NYSE:AGX opened at $460.82 on Friday. The firm has a 50 day simple moving average of $389.21 and a 200 day simple moving average of $328.51. Argan, Inc. has a 52 week low of $110.23 and a 52 week high of $484.13. The company has a market cap of $6.39 billion, a PE ratio of 54.28 and a beta of 0.57.

Insider Activity at Argan

In other Argan news, 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 value of $1,803,900.00. Following the transaction, the director owned 8,192 shares in the company, valued at $2,955,509.76. The trade was a 37.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Peter W. Getsinger sold 6,595 shares of the firm’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $313.71, for a total value of $2,068,917.45. Following the sale, the director directly owned 7,847 shares of the company’s stock, valued at $2,461,682.37. This trade represents a 45.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 54,915 shares of company stock valued at $19,854,754. Insiders own 6.69% of the company’s stock.

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.