Green Square Capital LLC Maintains Holdings in Layne Christensen Company (LAYN)
Green Square Capital LLC continued to hold its position in shares of Layne Christensen Company (NASDAQ:LAYN) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 375,400 shares of the construction company’s stock at the close of the second quarter. Green Square Capital LLC owned 1.89% of Layne Christensen worth $3,300,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of LAYN. Alliancebernstein L.P. purchased a new stake in shares of Layne Christensen during the second quarter worth $119,000. Nationwide Fund Advisors lifted its position in shares of Layne Christensen by 3.0% during the second quarter. Nationwide Fund Advisors now owns 14,565 shares of the construction company’s stock worth $128,000 after acquiring an additional 428 shares in the last quarter. Virtu KCG Holdings LLC purchased a new stake in shares of Layne Christensen during the second quarter worth $130,000. Wells Fargo & Company MN lifted its position in shares of Layne Christensen by 5.3% during the first quarter. Wells Fargo & Company MN now owns 17,000 shares of the construction company’s stock worth $151,000 after acquiring an additional 855 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Layne Christensen by 8.8% during the second quarter. Rhumbline Advisers now owns 21,629 shares of the construction company’s stock worth $190,000 after acquiring an additional 1,755 shares in the last quarter. Hedge funds and other institutional investors own 89.27% of the company’s stock.
Several equities research analysts have issued reports on the company. Jefferies Group LLC restated a “hold” rating and set a $11.00 target price (up previously from $9.00) on shares of Layne Christensen in a research report on Thursday, September 14th. ValuEngine upgraded Layne Christensen from a “sell” rating to a “hold” rating in a research report on Wednesday, September 13th. Finally, Zacks Investment Research cut shares of Layne Christensen from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th.
Layne Christensen Company (NASDAQ:LAYN) traded down 0.15% on Friday, hitting $12.91. 28,987 shares of the stock traded hands. The stock’s market cap is $256.66 million. The company’s 50 day moving average price is $11.43 and its 200-day moving average price is $9.39. Layne Christensen Company has a 52-week low of $6.98 and a 52-week high of $13.24.
Layne Christensen (NASDAQ:LAYN) last released its earnings results on Monday, September 11th. The construction company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.07. Layne Christensen had a negative net margin of 12.66% and a negative return on equity of 35.55%. The company had revenue of $126.20 million for the quarter, compared to analysts’ expectations of $122.99 million. During the same quarter in the previous year, the company earned ($0.21) EPS. Layne Christensen’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, analysts forecast that Layne Christensen Company will post ($0.40) earnings per share for the current fiscal year.
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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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