Landscape Capital Management L.L.C. Invests $910,000 in Argan, Inc. $AGX

Landscape Capital Management L.L.C. bought a new stake in shares of Argan, Inc. (NYSE:AGX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,139 shares of the construction company’s stock, valued at approximately $910,000.

A number of other large investors have also recently added to or reduced their stakes in AGX. Western Wealth Management LLC acquired a new stake in shares of Argan during the 1st quarter valued at $25,000. SJS Investment Consulting Inc. grew its holdings in shares of Argan by 2,950.0% in the 1st quarter. SJS Investment Consulting Inc. now owns 61 shares of the construction company’s stock worth $33,000 after acquiring an additional 59 shares during the last quarter. Plato Investment Management Ltd acquired a new position in shares of Argan in the 2nd quarter worth $52,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Argan during the fourth quarter worth $30,000. Finally, Harbor Investment Advisory LLC purchased a new stake in shares of Argan during the second quarter valued at $77,000. 79.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AGX. Zacks Research lowered Argan from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Lake Street Capital boosted their price objective on Argan from $375.00 to $600.00 and gave the stock a “hold” rating in a report on Friday, June 5th. Weiss Ratings lowered shares of Argan from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Finally, Wall Street Zen cut shares of Argan from a “buy” rating to a “hold” rating in a report on Saturday. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $470.40.

Insiders Place Their Bets

In other Argan news, Chairman William F. Griffin, Jr. sold 50,000 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $643.46, for a total value of $32,173,000.00. Following the transaction, the chairman owned 90,976 shares in the company, valued at $58,539,416.96. The trade was a 35.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Cynthia Flanders sold 2,596 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $666.31, for a total value of $1,729,740.76. Following the completion of the transaction, the director directly owned 23,144 shares in the company, valued at approximately $15,421,078.64. The trade was a 10.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 127,973 shares of company stock valued at $87,554,828 in the last three months. Company insiders own 2.99% of the company’s stock.

Argan Stock Performance

AGX stock opened at $504.36 on Monday. The firm has a 50 day simple moving average of $633.25 and a 200 day simple moving average of $581.24. Argan, Inc. has a 52 week low of $197.00 and a 52 week high of $805.75. The stock has a market cap of $7.07 billion, a P/E ratio of 44.32 and a beta of 0.61.

Argan (NYSE:AGX) last released its quarterly earnings data 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. Argan had a net margin of 15.48% and a return on equity of 36.89%. The firm had revenue of $290.95 million for the quarter, compared to analyst estimates of $256.03 million. During the same quarter in the prior year, the business earned $1.60 EPS. The company’s revenue for the quarter was up 50.2% compared to the same quarter last year. Sell-side analysts predict that Argan, Inc. will post 12.6 EPS for the current year.

Argan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Thursday, July 23rd were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, July 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.4%. Argan’s dividend payout ratio is 17.57%.

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.