PNC Financial Services Group Inc. Sells 731 Shares of Argan, Inc. (NYSE:AGX)

PNC Financial Services Group Inc. decreased its position in Argan, Inc. (NYSE:AGX) by 26.8% during the 4th quarter, HoldingsChannel reports. The fund owned 1,995 shares of the construction company’s stock after selling 731 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Argan were worth $273,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of AGX. Savant Capital LLC raised its stake in shares of Argan by 1.3% during the 4th quarter. Savant Capital LLC now owns 10,552 shares of the construction company’s stock worth $1,446,000 after purchasing an additional 133 shares in the last quarter. Spire Wealth Management bought a new stake in shares of Argan during the 4th quarter worth approximately $26,000. Global Retirement Partners LLC bought a new stake in shares of Argan during the 4th quarter worth approximately $35,000. Arizona State Retirement System raised its stake in shares of Argan by 7.2% during the 4th quarter. Arizona State Retirement System now owns 3,917 shares of the construction company’s stock worth $537,000 after purchasing an additional 263 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Argan by 1.7% during the 4th quarter. Rhumbline Advisers now owns 19,016 shares of the construction company’s stock worth $2,606,000 after purchasing an additional 309 shares in the last quarter. Institutional investors own 79.43% of the company’s stock.

Insider Buying and Selling

In other Argan news, Director Peter W. Getsinger sold 800 shares of the 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 completion of the transaction, the director now directly owns 19,177 shares in the company, valued at approximately $2,977,037.48. This trade represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard H. Deily sold 2,000 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $150.00, for a total value of $300,000.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,185 shares of company stock worth $1,644,859 in the last ninety days. 11.85% of the stock is owned by insiders.

Argan Stock Up 0.2 %

Shares of AGX stock opened at $120.79 on Friday. Argan, Inc. has a twelve month low of $48.85 and a twelve month high of $191.46. The company has a market cap of $1.64 billion, a P/E ratio of 25.27 and a beta of 0.58. The business has a fifty day simple moving average of $140.50 and a 200 day simple moving average of $133.26.

Analyst Ratings Changes

AGX has been the topic of a number of recent analyst reports. Lake Street Capital lowered Argan from a “buy” rating to a “hold” rating and boosted their target price for the stock from $85.00 to $150.00 in a report on Tuesday, December 3rd. CJS Securities reissued a “market perform” rating and set a $150.00 target price on shares of Argan in a report on Friday, December 6th.

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.