Prudential Financial Inc. Sells 5,225 Shares of Argan, Inc. (NYSE:AGX)

Prudential Financial Inc. trimmed its stake in Argan, Inc. (NYSE:AGX) by 35.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,679 shares of the construction company’s stock after selling 5,225 shares during the period. Prudential Financial Inc. owned 0.07% of Argan worth $1,326,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AGX. Spire Wealth Management purchased a new stake in Argan in the fourth quarter worth about $26,000. Farther Finance Advisors LLC bought a new position in shares of Argan during the 4th quarter valued at approximately $32,000. Global Retirement Partners LLC purchased a new stake in Argan in the 4th quarter worth approximately $35,000. Truvestments Capital LLC bought a new stake in Argan during the 4th quarter worth approximately $57,000. Finally, KBC Group NV purchased a new position in Argan during the fourth quarter valued at approximately $93,000. 79.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Peter W. Getsinger sold 800 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $155.24, for a total value of $124,192.00. Following the sale, the director now directly owns 19,177 shares in the company, valued at approximately $2,977,037.48. The trade was a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard H. Deily sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $150.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now owns 9,367 shares of the company’s stock, valued at $1,405,050. This represents a 17.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,185 shares of company stock worth $1,644,859 in the last 90 days. 11.85% of the stock is currently owned by corporate insiders.

Argan Trading Down 6.3 %

NYSE:AGX opened at $120.60 on Friday. The stock has a 50-day moving average price of $131.32 and a 200 day moving average price of $136.19. The stock has a market capitalization of $1.64 billion, a P/E ratio of 25.23 and a beta of 0.58. Argan, Inc. has a 12-month low of $48.85 and a 12-month high of $191.46.

Argan (NYSE:AGX) last released its quarterly earnings data on Thursday, March 27th. The construction company reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $1.07. Argan had a net margin of 8.20% and a return on equity of 21.66%. The firm had revenue of $232.47 million for the quarter, compared to analysts’ expectations of $197.50 million. The company’s revenue was up 41.3% on a year-over-year basis.

Analysts Set New Price Targets

Separately, Lake Street Capital raised shares of Argan from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research note on Friday, March 28th.

Argan Company 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.