Wells Fargo & Company MN boosted its position in shares of Layne Christensen Company (NASDAQ:LAYN) by 5.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,000 shares of the construction company’s stock after buying an additional 855 shares during the period. Wells Fargo & Company MN owned 0.09% of Layne Christensen worth $151,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in LAYN. Renaissance Technologies LLC raised its position in Layne Christensen by 27.1% in the fourth quarter. Renaissance Technologies LLC now owns 694,054 shares of the construction company’s stock worth $7,544,000 after buying an additional 147,854 shares during the period. Two Sigma Investments LP increased its stake in shares of Layne Christensen by 673.8% in the fourth quarter. Two Sigma Investments LP now owns 82,819 shares of the construction company’s stock worth $900,000 after buying an additional 72,116 shares in the last quarter. State Street Corp increased its stake in shares of Layne Christensen by 15.1% in the fourth quarter. State Street Corp now owns 244,858 shares of the construction company’s stock worth $2,661,000 after buying an additional 32,106 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Layne Christensen by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,038,708 shares of the construction company’s stock worth $11,291,000 after buying an additional 3,606 shares in the last quarter. Institutional investors own 91.02% of the company’s stock.
Layne Christensen Company (NASDAQ:LAYN) remained flat at $9.67 on Friday. The company had a trading volume of 90,644 shares. The firm’s market cap is $191.51 million. The company has a 50 day moving average price of $9.89 and a 200 day moving average price of $8.95. Layne Christensen Company has a one year low of $6.98 and a one year high of $11.42.
Layne Christensen (NASDAQ:LAYN) last posted its earnings results on Thursday, June 8th. The construction company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.14. The firm 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%. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.45) EPS. On average, equities analysts predict that Layne Christensen Company will post ($0.45) EPS for the current year.
A number of equities research analysts recently weighed in on LAYN shares. Zacks Investment Research raised shares of Layne Christensen from a “strong sell” rating to a “hold” rating and set a $10.00 target price on the stock in a research note on Saturday, June 10th. Jefferies Group LLC set a $9.00 target price on shares of Layne Christensen and gave the company a “hold” rating in a research note on Saturday, June 10th. Finally, ValuEngine raised shares of Layne Christensen from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Four investment analysts have rated the stock with a hold rating, The company has an average 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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