Credit Suisse AG raised its position in shares of 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. 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 approximately 3.65% of Layne Christensen worth $6,394,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Dimensional Fund Advisors LP increased 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 worth $10,035,000 after buying an additional 96,511 shares during the last quarter. Royce & Associates LP increased its position 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 during the last quarter. Van ECK Associates Corp increased its position 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 during the last quarter. KBC Group NV increased its position 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 during the last quarter. Finally, Parametric Portfolio Associates LLC increased 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 worth $3,954,000 after buying an additional 396,481 shares during the last quarter. 91.02% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Layne Christensen Company (NASDAQ LAYN) opened at 9.95 on Tuesday. The stock’s market cap is $197.06 million. The company’s 50-day moving average price is $9.77 and its 200-day moving average price is $8.96. Layne Christensen Company has a 52-week low of $6.98 and a 52-week high of $11.42.
Layne Christensen (NASDAQ:LAYN) last issued its quarterly earnings results on Thursday, June 8th. The construction company reported ($0.17) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.14. Layne Christensen had a negative return on equity of 31.94% and a negative net margin of 11.98%. The company had revenue of $111.51 million during the quarter, compared to analysts’ expectations of $111.25 million. During the same quarter in the previous year, the firm posted ($0.45) EPS. The firm’s revenue was down 7.6% compared to the same quarter last year. On average, equities research analysts forecast that Layne Christensen Company will post ($0.45) earnings per share for the current fiscal year.
A number of research firms recently commented on LAYN. Zacks Investment Research cut Layne Christensen from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Jefferies Group LLC reiterated a “hold” rating and set a $9.00 price objective on shares of Layne Christensen in a research report on Friday, August 4th. Finally, ValuEngine upgraded Layne Christensen from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Four 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.
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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