Credit Suisse AG boosted its position in shares of Layne Christensen Company (NASDAQ:LAYN) by 2.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 723,400 shares of the construction company’s stock after buying an additional 18,046 shares during the period. Credit Suisse AG owned 3.65% of Layne Christensen worth $6,394,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in LAYN. Dimensional Fund Advisors LP raised its stake 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 worth $10,035,000 after buying an additional 96,511 shares in the last quarter. Royce & Associates LP raised its stake in shares of Layne Christensen by 5.8% in the first quarter. Royce & Associates LP now owns 1,884,972 shares of the construction company’s stock worth $16,663,000 after buying an additional 103,443 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Layne Christensen by 41.3% in the first quarter. Van ECK Associates Corp now owns 48,735 shares of the construction company’s stock worth $431,000 after buying an additional 14,239 shares in the last quarter. KBC Group NV raised its stake in shares of Layne Christensen by 10.8% in the first quarter. KBC Group NV now owns 226,138 shares of the construction company’s stock worth $1,999,000 after buying an additional 21,952 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake 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 worth $3,954,000 after buying an additional 396,481 shares in the last quarter. 92.32% of the stock is currently owned by institutional investors and hedge funds.
Shares of Layne Christensen Company (NASDAQ LAYN) traded down 0.57% on Monday, hitting $10.40. The stock had a trading volume of 6,474 shares. The company’s market capitalization is $205.97 million. Layne Christensen Company has a 52 week low of $6.98 and a 52 week high of $11.42. The company has a 50-day moving average of $9.32 and a 200 day moving average of $8.97.
Layne Christensen (NASDAQ:LAYN) last issued its quarterly earnings results on Thursday, June 8th. The construction company reported ($0.17) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.14. The company had revenue of $111.51 million during the quarter, compared to the consensus estimate of $111.25 million. Layne Christensen had a negative return on equity of 31.94% and a negative net margin of 11.98%. Layne Christensen’s revenue was down 7.6% on a year-over-year basis. During the same period last year, the business posted ($0.45) earnings per share. On average, equities research analysts predict that Layne Christensen Company will post ($0.45) EPS for the current year.
LAYN has been the topic of several recent analyst reports. TheStreet lowered Layne Christensen from a “c-” rating to a “d+” rating in a research report on Thursday, April 13th. Jefferies Group LLC reaffirmed a “hold” rating and set a $9.00 price target on shares of Layne Christensen in a research report on Friday. ValuEngine raised Layne Christensen from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Finally, Zacks Investment Research raised Layne Christensen from a “strong sell” rating to a “hold” rating and set a $10.00 price target on the stock in a research report on Saturday, June 10th. Four research analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and a consensus price target of $9.33.
About Layne Christensen
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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