Nebula Research & Development LLC Has $2.20 Million Stock Holdings in Argan, Inc. (NYSE:AGX)

Nebula Research & Development LLC lifted its stake in shares of Argan, Inc. (NYSE:AGX) by 70.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,064 shares of the construction company’s stock after acquiring an additional 6,652 shares during the quarter. Nebula Research & Development LLC owned approximately 0.12% of Argan worth $2,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Amundi lifted its position in shares of Argan by 8.6% in the 4th quarter. Amundi now owns 859 shares of the construction company’s stock worth $118,000 after purchasing an additional 68 shares during the period. Savant Capital LLC grew its holdings in Argan by 1.3% during the 4th quarter. Savant Capital LLC now owns 10,552 shares of the construction company’s stock worth $1,446,000 after acquiring an additional 133 shares during the period. Cerity Partners LLC raised its position in shares of Argan by 3.7% in the 4th quarter. Cerity Partners LLC now owns 4,042 shares of the construction company’s stock worth $545,000 after acquiring an additional 144 shares in the last quarter. Hillsdale Investment Management Inc. raised its position in shares of Argan by 0.6% in the 4th quarter. Hillsdale Investment Management Inc. now owns 26,763 shares of the construction company’s stock worth $3,668,000 after acquiring an additional 150 shares in the last quarter. Finally, Spire Wealth Management acquired a new position in shares of Argan in the 4th quarter valued at about $26,000. 79.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Peter W. Getsinger sold 5,000 shares of the stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $145.03, for a total transaction of $725,150.00. Following the completion of the transaction, the director now directly owns 11,496 shares of the company’s stock, valued at $1,667,264.88. This represents a 30.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 11.85% of the company’s stock.

Analysts Set New Price Targets

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

Argan Price Performance

Shares of AGX opened at $148.62 on Friday. The stock has a 50-day moving average of $129.74 and a 200-day moving average of $140.10. Argan, Inc. has a one year low of $60.03 and a one year high of $191.46. The company has a market cap of $2.03 billion, a PE ratio of 31.09 and a beta of 0.45.

Argan (NYSE:AGX) last released its quarterly earnings data on Thursday, March 27th. The construction company reported $2.22 EPS for the quarter, beating the consensus estimate of $1.15 by $1.07. Argan had a return on equity of 21.66% and a net margin of 8.20%. The firm had revenue of $232.47 million during the quarter, compared to the consensus estimate of $197.50 million. The company’s quarterly revenue was up 41.3% on a year-over-year basis.

Argan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors 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 dividend yield of 1.01%. Argan’s payout ratio is 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.