Argan (NYSE:AGX) CEO Charles Edwin Iv Collins Sells 2,500 Shares

Argan, Inc. (NYSE:AGX) CEO Charles Edwin Iv Collins sold 2,500 shares of the firm’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $610.00, for a total value of $1,525,000.00. Following the completion of the transaction, the chief executive officer owned 30,320 shares in the company, valued at $18,495,200. The trade was a 7.62% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Charles Edwin Iv Collins also recently made the following trade(s):

• On Tuesday, April 21st, Charles Edwin Iv Collins sold 11,068 shares of Argan stock. The shares were sold at an average price of $621.61, for a total value of $6,879,979.48.

Argan Stock Performance

Shares of AGX stock opened at $650.28 on Thursday. The stock’s fifty day moving average is $499.43 and its two-hundred day moving average is $389.88. The firm has a market capitalization of $9.07 billion, a P/E ratio of 66.76 and a beta of 0.46. Argan, Inc. has a fifty-two week low of $139.98 and a fifty-two week high of $651.99.

Argan (NYSE:AGX) last announced its quarterly earnings data on Thursday, March 26th. The construction company reported $3.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $1.48. The company had revenue of $262.05 million for the quarter, compared to analyst estimates of $255.32 million. Argan had a return on equity of 33.62% and a net margin of 14.59%.The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.22 EPS. On average, equities analysts forecast that Argan, Inc. will post 11.44 earnings per share for the current year.

Argan declared that its Board of Directors has authorized a share repurchase plan on Wednesday, April 8th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the construction company to reacquire up to 2.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Argan Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, April 22nd will be issued a $0.50 dividend. The ex-dividend date is Wednesday, April 22nd. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. Argan’s dividend payout ratio (DPR) is presently 20.53%.

Wall Street Analyst Weigh In

Several research firms have recently commented on AGX. Lake Street Capital lifted their price target on Argan from $325.00 to $375.00 and gave the stock a “hold” rating in a report on Friday, March 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Argan in a report on Monday, April 6th. Wall Street Zen upgraded Argan from a “hold” rating to a “buy” rating in a report on Saturday, March 28th. Zacks Research upgraded Argan from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 31st. Finally, The Goldman Sachs Group lifted their price target on Argan from $399.00 to $518.00 and gave the stock a “buy” rating in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Argan currently has an average rating of “Moderate Buy” and a consensus price target of $425.40.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AGX. Maverick Capital Ltd. acquired a new stake in shares of Argan during the 4th quarter worth about $137,503,000. First Trust Advisors LP increased its position in shares of Argan by 69.8% during the 3rd quarter. First Trust Advisors LP now owns 559,466 shares of the construction company’s stock worth $151,084,000 after purchasing an additional 230,073 shares during the last quarter. Balyasny Asset Management L.P. increased its position in shares of Argan by 168.9% during the 2nd quarter. Balyasny Asset Management L.P. now owns 253,365 shares of the construction company’s stock worth $55,862,000 after purchasing an additional 159,149 shares during the last quarter. Invesco Ltd. increased its position in shares of Argan by 172.5% during the 2nd quarter. Invesco Ltd. now owns 229,893 shares of the construction company’s stock worth $50,687,000 after purchasing an additional 145,516 shares during the last quarter. Finally, TD Asset Management Inc acquired a new stake in shares of Argan during the 3rd quarter worth about $35,629,000. Hedge funds and other institutional investors own 79.43% 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.