Green Square Capital LLC lessened its holdings in shares of Layne Christensen Company (NASDAQ:LAYN) by 76.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 89,900 shares of the construction company’s stock after selling 285,500 shares during the period. Green Square Capital LLC owned 0.45% of Layne Christensen worth $1,128,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of LAYN. Royce & Associates LP lifted its holdings in Layne Christensen by 3.6% in the second quarter. Royce & Associates LP now owns 1,953,571 shares of the construction company’s stock valued at $17,172,000 after buying an additional 68,599 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Layne Christensen by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,140,388 shares of the construction company’s stock valued at $10,024,000 after buying an additional 5,169 shares during the period. State Street Corp lifted its holdings in Layne Christensen by 9.9% in the second quarter. State Street Corp now owns 280,282 shares of the construction company’s stock valued at $2,465,000 after buying an additional 25,213 shares during the period. KBC Group NV lifted its holdings in Layne Christensen by 1.1% in the second quarter. KBC Group NV now owns 228,653 shares of the construction company’s stock valued at $2,010,000 after buying an additional 2,515 shares during the period. Finally, Northern Trust Corp lifted its holdings in Layne Christensen by 4.2% in the second quarter. Northern Trust Corp now owns 218,316 shares of the construction company’s stock valued at $1,919,000 after buying an additional 8,767 shares during the period. Institutional investors own 92.12% of the company’s stock.
Several research firms recently issued reports on LAYN. Zacks Investment Research lowered shares of Layne Christensen from a “hold” rating to a “sell” rating in a report on Monday. ValuEngine lowered shares of Layne Christensen from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Finally, Jefferies Group restated a “hold” rating and issued a $11.00 target price (up previously from $9.00) on shares of Layne Christensen in a report on Thursday, September 14th.
Layne Christensen Company (NASDAQ:LAYN) opened at $11.80 on Tuesday. Layne Christensen Company has a fifty-two week low of $6.98 and a fifty-two week high of $13.64. The company has a current ratio of 1.47, a quick ratio of 1.32 and a debt-to-equity ratio of 3.05.
Layne Christensen (NASDAQ:LAYN) last announced its quarterly earnings data on Tuesday, December 5th. The construction company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.07). Layne Christensen had a negative net margin of 12.73% and a negative return on equity of 40.46%. The company had revenue of $127.43 million for the quarter, compared to analyst estimates of $131.12 million. During the same quarter in the prior year, the company posted ($0.26) EPS. Layne Christensen’s revenue for the quarter was up 5.7% on a year-over-year basis. sell-side analysts forecast that Layne Christensen Company will post -0.51 earnings per share for the current year.
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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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