Truvestments Capital LLC Buys New Shares in Argan, Inc. (NYSE:AGX)

Truvestments Capital LLC purchased a new stake in shares of Argan, Inc. (NYSE:AGX) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 415 shares of the construction company’s stock, valued at approximately $57,000.

Several other large investors have also recently added to or reduced their stakes in AGX. Spire Wealth Management acquired a new stake in shares of Argan during the 4th quarter worth approximately $26,000. Farther Finance Advisors LLC acquired a new stake in Argan during the fourth quarter worth $32,000. Global Retirement Partners LLC bought a new stake in Argan in the 4th quarter valued at $35,000. KBC Group NV bought a new stake in Argan in the 4th quarter valued at $93,000. Finally, Amundi raised its stake in shares of Argan by 8.6% in the 4th quarter. Amundi now owns 859 shares of the construction company’s stock valued at $118,000 after buying an additional 68 shares in the last quarter. Institutional investors and hedge funds own 79.43% of the company’s stock.

Analyst Ratings Changes

AGX has been the topic of a number of recent research reports. CJS Securities reaffirmed a “market perform” rating and set a $150.00 price objective on shares of Argan in a report on Friday, December 6th. Lake Street Capital lowered Argan from a “buy” rating to a “hold” rating and boosted their price target for the company from $85.00 to $150.00 in a research note on Tuesday, December 3rd.

Insider Activity

In other Argan news, CFO Richard H. Deily sold 2,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $150.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now owns 9,367 shares of the company’s stock, valued at approximately $1,405,050. This represents a 17.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Hibbert Watson sold 10,000 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $146.05, for a total value of $1,460,500.00. Following the completion of the transaction, the chief executive officer now owns 51,291 shares in the company, valued at $7,491,050.55. The trade was a 16.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,185 shares of company stock valued at $3,105,359 over the last three months. 11.85% of the stock is owned by insiders.

Argan Stock Down 0.9 %

Shares of NYSE AGX opened at $113.86 on Friday. Argan, Inc. has a 12-month low of $47.42 and a 12-month high of $191.46. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 23.82 and a beta of 0.58. The firm’s 50-day simple moving average is $144.58 and its 200 day simple moving average is $131.06.

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.