Layne Christensen Company (LAYN) Position Increased by KBC Group NV
KBC Group NV boosted its stake in shares of Layne Christensen Company (NASDAQ:LAYN) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 228,653 shares of the construction company’s stock after buying an additional 2,515 shares during the period. KBC Group NV owned about 1.15% of Layne Christensen worth $2,010,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Royce & Associates LP raised its position in Layne Christensen by 5.8% in the first quarter. Royce & Associates LP now owns 1,884,972 shares of the construction company’s stock valued at $16,663,000 after buying an additional 103,443 shares during the last quarter. Gamco Investors INC. ET AL raised its position in shares of Layne Christensen by 0.3% in the first quarter. Gamco Investors INC. ET AL now owns 1,217,100 shares of the construction company’s stock valued at $10,759,000 after buying an additional 4,100 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Layne Christensen by 9.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,135,219 shares of the construction company’s stock valued at $10,035,000 after buying an additional 96,511 shares in the last quarter. Credit Suisse AG raised its position in shares of Layne Christensen by 2.6% in the first quarter. Credit Suisse AG now owns 723,400 shares of the construction company’s stock valued at $6,394,000 after buying an additional 18,046 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in shares of Layne Christensen by 779.7% in the first quarter. Parametric Portfolio Associates LLC now owns 447,331 shares of the construction company’s stock valued at $3,954,000 after buying an additional 396,481 shares in the last quarter. Institutional investors own 89.27% of the company’s stock.
Layne Christensen Company (NASDAQ LAYN) opened at 10.73 on Tuesday. The firm’s market capitalization is $212.51 million. The stock has a 50 day moving average of $9.98 and a 200 day moving average of $8.93. Layne Christensen Company has a one year low of $6.98 and a one year high of $11.42.
Layne Christensen (NASDAQ:LAYN) last announced its quarterly earnings results on Thursday, June 8th. The construction company reported ($0.17) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.14. The business had revenue of $111.51 million during the quarter, compared to analysts’ expectations of $111.25 million. Layne Christensen had a negative return on equity of 31.94% and a negative net margin of 11.98%. The firm’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.45) EPS. Analysts forecast that Layne Christensen Company will post ($0.45) earnings per share for the current year.
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LAYN has been the topic of several recent analyst reports. Jefferies Group LLC restated a “hold” rating and issued a $9.00 price objective on shares of Layne Christensen in a report on Friday, August 4th. ValuEngine upgraded shares of Layne Christensen from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Finally, Zacks Investment Research upgraded shares of Layne Christensen from a “strong sell” rating to a “hold” rating and set a $10.00 price objective on the stock in a report on Saturday, June 10th. Four analysts have rated the stock with a hold rating, Layne Christensen presently has a consensus rating of “Hold” and an average price target of $9.33.
Layne Christensen Company Profile
Layne Christensen Company (Layne) is a water management, construction and drilling company. The Company provides drilling solutions for water management, mineral services and specialty drilling needs. The Company operates through three segments: Water Resources, Inliner and Mineral Services. Its Water Resources segment provides its customers with solutions for various aspects of water supply system development and technology throughout the United States.
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