Credit Suisse AG boosted its stake in Layne Christensen Company (NASDAQ:LAYN) by 2.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 723,400 shares of the construction company’s stock after buying an additional 18,046 shares during the period. Credit Suisse AG owned about 3.65% of Layne Christensen worth $6,394,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in LAYN. Wells Fargo & Company MN raised its position in Layne Christensen by 5.3% in the first quarter. Wells Fargo & Company MN now owns 17,000 shares of the construction company’s stock valued at $151,000 after buying an additional 855 shares in the last quarter. Van ECK Associates Corp raised its position in Layne Christensen by 41.3% in the first quarter. Van ECK Associates Corp now owns 48,735 shares of the construction company’s stock valued at $431,000 after buying an additional 14,239 shares in the last quarter. Bank of New York Mellon Corp raised its position in Layne Christensen by 7.9% in the first quarter. Bank of New York Mellon Corp now owns 84,752 shares of the construction company’s stock valued at $750,000 after buying an additional 6,217 shares in the last quarter. Two Sigma Investments LP raised its position in Layne Christensen by 673.8% in the fourth quarter. Two Sigma Investments LP now owns 82,819 shares of the construction company’s stock valued at $900,000 after buying an additional 72,116 shares in the last quarter. Finally, KBC Group NV raised its position in Layne Christensen by 10.8% in the first quarter. KBC Group NV now owns 226,138 shares of the construction company’s stock valued at $1,999,000 after buying an additional 21,952 shares in the last quarter. 92.31% of the stock is currently owned by institutional investors and hedge funds.
Shares of Layne Christensen Company (NASDAQ LAYN) opened at 10.08 on Thursday. The stock’s market capitalization is $199.63 million. The stock’s 50 day moving average is $8.63 and its 200-day moving average is $8.99. 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, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.14. Layne Christensen had a negative net margin of 11.98% and a negative return on equity of 31.94%. The firm had revenue of $111.51 million for the quarter, compared to analyst estimates of $111.25 million. During the same period last year, the business earned ($0.45) EPS. Layne Christensen’s revenue for the quarter was down 7.6% compared to the same quarter last year. On average, equities research analysts predict that Layne Christensen Company will post ($0.45) EPS for the current fiscal year.
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LAYN has been the topic of several analyst reports. TheStreet lowered shares of Layne Christensen from a “c-” rating to a “d+” rating in a report on Thursday, April 13th. ValuEngine raised shares of Layne Christensen from a “sell” rating to a “hold” rating in a report on Tuesday. Jefferies Group LLC set a $9.00 price target on shares of Layne Christensen and gave the stock a “hold” rating in a report on Saturday, June 10th. Finally, Zacks Investment Research raised 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 research analysts have rated the stock with a hold rating, Layne Christensen presently has a consensus rating of “Hold” and an average target price 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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