58,390 Shares in Argan, Inc. (NYSE:AGX) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in Argan, Inc. (NYSE:AGX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 58,390 shares of the construction company’s stock, valued at approximately $8,002,000.

Other large investors have also recently added to or reduced their stakes in the company. Spire Wealth Management acquired a new stake in Argan in the 4th quarter valued at $26,000. Global Retirement Partners LLC acquired a new stake in Argan in the 4th quarter valued at $35,000. KBC Group NV acquired a new stake in Argan in the 4th quarter valued at $93,000. FMR LLC increased its holdings in Argan by 68.2% in the 3rd quarter. FMR LLC now owns 1,033 shares of the construction company’s stock valued at $105,000 after purchasing an additional 419 shares in the last quarter. Finally, Private Trust Co. NA acquired a new stake in Argan in the 4th quarter valued at $151,000. 79.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AGX. Lake Street Capital downgraded Argan from a “buy” rating to a “hold” rating and increased their price target for the company from $85.00 to $150.00 in a report on Tuesday, December 3rd. CJS Securities reiterated a “market perform” rating and issued a $150.00 price target on shares of Argan in a report on Friday, December 6th.

Insider Buying and Selling

In related news, CFO Richard H. Deily sold 2,000 shares of Argan stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $150.00, for a total value of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 9,367 shares in the company, valued at approximately $1,405,050. This trade represents a 17.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter W. Getsinger sold 7,385 shares of Argan stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $165.29, for a total value of $1,220,666.65. Following the completion of the transaction, the director now owns 11,792 shares of the company’s stock, valued at $1,949,099.68. This trade represents a 38.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,185 shares of company stock worth $1,644,859. Corporate insiders own 11.85% of the company’s stock.

Argan Price Performance

Shares of Argan stock opened at $120.79 on Friday. The business has a 50-day moving average of $140.50 and a 200-day moving average of $133.26. The company has a market capitalization of $1.64 billion, a PE ratio of 25.27 and a beta of 0.58. Argan, Inc. has a 1-year low of $48.85 and a 1-year high of $191.46.

About Argan

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.