Farther Finance Advisors LLC Takes Position in Argan, Inc. (NYSE:AGX)

Farther Finance Advisors LLC bought a new position in shares of Argan, Inc. (NYSE:AGX) during the fourth quarter, Holdings Channel.com reports. The fund bought 230 shares of the construction company’s stock, valued at approximately $32,000.

Several other large investors have also recently bought and sold shares of AGX. Spire Wealth Management acquired a new stake in Argan in the 4th quarter worth $26,000. Global Retirement Partners LLC acquired a new stake in Argan during the fourth quarter worth about $35,000. KBC Group NV acquired a new stake in Argan during the fourth quarter worth about $93,000. FMR LLC increased its stake in Argan by 68.2% during the third quarter. FMR LLC now owns 1,033 shares of the construction company’s stock valued at $105,000 after acquiring an additional 419 shares during the period. Finally, Amundi raised its holdings in Argan by 8.6% in the 4th quarter. Amundi now owns 859 shares of the construction company’s stock valued at $118,000 after acquiring an additional 68 shares in the last quarter. 79.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Peter W. Getsinger sold 7,385 shares of the stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $165.29, for a total transaction of $1,220,666.65. Following the completion of the sale, the director now owns 11,792 shares in the company, valued at $1,949,099.68. This trade represents a 38.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Richard H. Deily sold 2,000 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $150.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now 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 disclosure for this sale can be found here. Insiders sold 10,185 shares of company stock worth $1,644,859 in the last 90 days. 11.85% of the stock is owned by company insiders.

Analysts Set New Price Targets

AGX has been the topic of several recent research reports. CJS Securities reissued 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 shares of 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 report on Tuesday, December 3rd.

Argan Trading Up 7.2 %

NYSE AGX opened at $129.26 on Tuesday. Argan, Inc. has a 1-year low of $48.85 and a 1-year high of $191.46. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 27.04 and a beta of 0.58. The stock’s 50 day moving average is $139.97 and its two-hundred day moving average is $134.11.

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.