Peter Getsinger Sells 4,728 Shares of Argan (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGX) Director Peter Getsinger sold 4,728 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $708.65, for a total transaction of $3,350,497.20. Following the completion of the transaction, the director directly owned 6,880 shares in the company, valued at $4,875,512. This represents a 40.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Argan Price Performance

Shares of Argan stock opened at $738.43 on Friday. The business has a 50 day simple moving average of $656.75 and a two-hundred day simple moving average of $487.55. Argan, Inc. has a 12 month low of $193.82 and a 12 month high of $779.00. The stock has a market capitalization of $10.35 billion, a P/E ratio of 64.89 and a beta of 0.58.

Argan (NYSE:AGX) last released its earnings results on Thursday, June 4th. The construction company reported $3.24 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.93. The business had revenue of $290.95 million for the quarter, compared to the consensus estimate of $256.03 million. Argan had a return on equity of 36.89% and a net margin of 15.48%.The business’s quarterly revenue was up 50.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.60 earnings per share. As a group, research analysts anticipate that Argan, Inc. will post 12.6 EPS for the current fiscal year.

Argan declared that its Board of Directors has authorized a share repurchase plan on Wednesday, April 8th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the construction company to reacquire up to 2.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Argan Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, July 23rd will be issued a $0.50 dividend. The ex-dividend date is Thursday, July 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. Argan’s dividend payout ratio (DPR) is presently 17.57%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its position in shares of Argan by 2.0% during the first quarter. International Assets Investment Management LLC now owns 775 shares of the construction company’s stock worth $443,000 after buying an additional 15 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Argan by 5.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 541 shares of the construction company’s stock valued at $170,000 after buying an additional 30 shares during the period. Baader Bank Aktiengesellschaft raised its holdings in shares of Argan by 0.6% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 5,030 shares of the construction company’s stock valued at $2,734,000 after buying an additional 30 shares during the period. National Bank of Canada FI lifted its stake in Argan by 26.7% during the 3rd quarter. National Bank of Canada FI now owns 147 shares of the construction company’s stock worth $40,000 after acquiring an additional 31 shares in the last quarter. Finally, Pallas Capital Advisors LLC lifted its stake in Argan by 1.3% during the 4th quarter. Pallas Capital Advisors LLC now owns 2,564 shares of the construction company’s stock worth $803,000 after acquiring an additional 34 shares in the last quarter. 79.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AGX has been the subject of several research reports. Freedom Capital raised shares of Argan to a “hold” rating in a research note on Tuesday, March 10th. The Goldman Sachs Group upped their price target on Argan from $399.00 to $518.00 and gave the company a “buy” rating in a research report on Friday, March 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Argan in a report on Monday, April 6th. JPMorgan Chase & Co. upgraded Argan from a “neutral” rating to an “overweight” rating and set a $550.00 price objective on the stock in a research report on Friday, March 27th. Finally, Lake Street Capital boosted their price objective on Argan from $375.00 to $600.00 and gave the stock a “hold” rating in a research note on Friday, June 5th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $470.40.

Trending Headlines about Argan

Here are the key news stories impacting Argan this week:

• Positive Sentiment: Argan’s recent quarterly results were excellent, with EPS of $3.24 beating estimates by a wide margin and revenue rising 50.2% year over year, reinforcing confidence in the company’s execution and profitability. Argan earnings report
• Positive Sentiment: Analysts highlighted Argan’s backlog as 79% gas-focused and tied to rising power demand from data centers, electrification, and reshoring, which supports the view that project demand remains strong. Zacks backlog article
• Neutral Sentiment: The company has a $200 million share repurchase authorization and recently declared a quarterly dividend, both of which can support the stock, but they are longer-term capital-return factors rather than immediate catalysts. Argan capital return details
• Negative Sentiment: Multiple insiders, including CEO David Hibbert Watson, CFO Joshua Scott Baugher, and directors Peter W. Getsinger and Karen Sweeney, sold shares this week, and clustered insider selling can weigh on investor sentiment. Insider selling alert

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.