Argan, Inc. $AGX Stock Holdings Decreased by Capital Fund Management S.A.

Capital Fund Management S.A. lessened its stake in Argan, Inc. (NYSE:AGX) by 8.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 42,343 shares of the construction company’s stock after selling 4,116 shares during the quarter. Capital Fund Management S.A. owned approximately 0.31% of Argan worth $11,435,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Aster Capital Management DIFC Ltd bought a new stake in Argan in the third quarter valued at about $25,000. Accredited Wealth Management LLC bought a new position in Argan during the 3rd quarter worth approximately $32,000. Eastern Bank acquired a new position in shares of Argan in the 3rd quarter worth approximately $55,000. Federated Hermes Inc. increased its holdings in shares of Argan by 22.0% in the 3rd quarter. Federated Hermes Inc. now owns 255 shares of the construction company’s stock valued at $69,000 after acquiring an additional 46 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of Argan by 3,200.0% in the 3rd quarter. Bessemer Group Inc. now owns 330 shares of the construction company’s stock valued at $89,000 after acquiring an additional 320 shares during the last quarter. Institutional investors own 79.43% of the company’s stock.

Argan Stock Performance

AGX stock opened at $460.82 on Friday. Argan, Inc. has a 1 year low of $110.23 and a 1 year high of $484.13. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of 54.28 and a beta of 0.57. The stock’s fifty day moving average is $389.21 and its two-hundred day moving average is $328.51.

Insider Activity

In other news, Director William F. Leimkuhler sold 11,044 shares of Argan stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $379.15, for a total transaction of $4,187,332.60. Following the sale, the director owned 49,939 shares of the company’s stock, valued at approximately $18,934,371.85. The trade was a 18.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John Ronald Jr. Jeffrey sold 5,000 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,955,509.76. This represents a 37.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 54,915 shares of company stock valued at $19,854,754. Company insiders own 6.69% of the company’s stock.

Wall Street Analyst Weigh In

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

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.