New York State Common Retirement Fund 13F: Cuts AGX Stake by $3.8M

The New York State Common Retirement Fund has reduced its stake in Argan, Inc. (NYSE: AGX) by 4,826 shares, according to its latest 13F filing with the SEC. This represents a 15.1% decrease in its holdings, bringing the total to 27,175 shares valued at approximately $19.1 million as of the reporting period.

What Changed in New York State Common Retirement Fund's Argan, Inc. Position

The fund's decision to cut its position in Argan, Inc. resulted in a reduction of 4,826 shares, moving from 32,001 shares previously to 27,175 shares now. This adjustment reflects a 15.1% decrease in their holdings, with the current value of the shares standing at about $19.1 million.

Other Institutional Activity in Argan, Inc.

Other institutional investors also made moves in Argan, Inc. BlackRock, Inc. significantly increased its stake by 943,718 shares, reaching a total of 2,123,299 shares valued at around $1.16 billion. First Trust Advisors LP added 192,204 shares, bringing its holdings to 791,353 shares worth approximately $431 million. Renaissance Technologies LLC increased its position by 12,300 shares to a total of 610,899 shares, valued at $332.7 million. Vanguard Capital Management LLC and Vanguard Portfolio Management LLC both established new positions with 587,466 and 517,624 shares respectively.

Argan, Inc. Stock Up 104.0%

Shares of Argan, Inc. are trading near $703.74. The company boasts a market capitalization of roughly $9.68 billion and a P/E ratio of 60.6. Its forward P/E ratio stands at 42.5, and the stock has a beta of 0.59, indicating lower volatility compared to the market. Over the past year, the stock has ranged from a low of $193.82 to a high of $779.00. The 50-day moving average is $654.08, while the 200-day moving average is $424.72.

Recent Earnings

Argan, Inc. reported revenue of approximately $1.04 billion with a growth rate of 50.2%. The company's net margin is 15.48%, and it achieved a return on equity of 38.52%. The next earnings report is scheduled for September 3, 2026.

Dividend

Argan, Inc. offers an annual dividend rate of $2.00 per share, yielding 0.29%. The dividend payout ratio is 16.48%.

Insider Buying and Selling at Argan, Inc.

In June, several insider transactions were reported. CEO David Hibbert Watson sold 9,993 shares at an average price of $651.22 on June 15. On the same day, he also sold 3,333 shares at $67.86 and 1,880 shares at $707.35. Additionally, Cynthia Flanders sold 2,596 shares at $666.31, and William Jr. Griffin sold 50,000 shares at $643.46 on June 12.

Analysts Set New Price Targets

On June 5, 2026, Lake Street maintained its hold rating on Argan, Inc. with a price target of $600. Previously, on March 27, 2026, Goldman Sachs maintained a buy rating with a target of $518, while JP Morgan upgraded the stock to a buy with a target of $550. The consensus recommendation for Argan, Inc. is a buy, with a mean price target of $679.80 among five analysts.

About Argan, Inc.

Argan, Inc., headquartered in Arlington, Virginia, operates through its subsidiaries to provide engineering and construction services for power generation projects in the U.S., Ireland, and the U.K. The company operates in three segments: Power, Industrial, and Teledata, offering services from project development to technical consulting. Led by CEO David Hibbert Watson, Argan employs around 1,409 people.

Bottom Line

The New York State Common Retirement Fund's reduction in its Argan, Inc. position is part of its latest portfolio adjustments reflected in 13F filings. While the stock's performance is steady, with significant institutional interest, investors should note these filings are backward-looking and may not represent current positions. Argan, Inc.'s diverse service offerings and global presence make it a company to watch in the engineering and construction sector.