Aventail Capital Group LP Lowers Holdings in Argan, Inc. $AGX

Aventail Capital Group LP trimmed its holdings in Argan, Inc. (NYSE:AGX) by 70.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,507 shares of the construction company’s stock after selling 52,516 shares during the quarter. Aventail Capital Group LP’s holdings in Argan were worth $6,078,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Argan in the third quarter worth $14,138,000. Thames Capital Management LLC purchased a new position in Argan during the third quarter valued at $11,175,000. Versor Investments LP purchased a new position in Argan during the third quarter valued at $971,000. Leavell Investment Management Inc. increased its holdings in Argan by 125.3% in the 3rd quarter. Leavell Investment Management Inc. now owns 12,505 shares of the construction company’s stock valued at $3,377,000 after acquiring an additional 6,955 shares during the last quarter. Finally, Moody Aldrich Partners LLC purchased a new stake in Argan in the 3rd quarter worth $3,772,000. 79.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Weiss Ratings reissued a “buy (b+)” rating on shares of Argan in a report on Wednesday, December 24th. CJS Securities raised Argan to a “hold” rating in a report on Thursday, December 11th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $370.00 target price (up from $315.00) on shares of Argan in a research report on Monday, December 1st. Zacks Research lowered Argan from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Finally, Lake Street Capital cut Argan from a “buy” rating to a “hold” rating and raised their price target for the company from $260.00 to $325.00 in a report on Friday, December 5th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $355.20.

Argan Stock Down 0.2%

Shares of NYSE:AGX opened at $458.31 on Friday. Argan, Inc. has a 52 week low of $111.16 and a 52 week high of $484.13. The stock has a market capitalization of $6.36 billion, a P/E ratio of 53.98 and a beta of 0.57. The firm has a fifty day simple moving average of $391.86 and a two-hundred day simple moving average of $330.82.

Insider Buying and Selling at Argan

In other Argan news, Director Cynthia Flanders sold 19,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $386.70, for a total transaction of $7,347,300.00. Following the sale, the director directly owned 26,207 shares of the company’s stock, valued at $10,134,246.90. The trade was a 42.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William F. Leimkuhler sold 11,044 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $379.15, for a total value of $4,187,332.60. Following the sale, the director owned 49,939 shares in the company, valued at approximately $18,934,371.85. This trade represents a 18.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 54,915 shares of company stock worth $19,854,754 in the last 90 days. 6.69% of the stock is currently owned by insiders.

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.