Virtu KCG Holdings LLC purchased a new position in Layne Christensen Company (NASDAQ:LAYN) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,817 shares of the construction company’s stock, valued at approximately $130,000. Virtu KCG Holdings LLC owned 0.07% of Layne Christensen at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Nationwide Fund Advisors boosted its position in shares of Layne Christensen by 3.0% in the second quarter. Nationwide Fund Advisors now owns 14,565 shares of the construction company’s stock worth $128,000 after purchasing an additional 428 shares during the period. Wells Fargo & Company MN boosted its position in shares of Layne Christensen by 5.3% in the first quarter. Wells Fargo & Company MN now owns 17,000 shares of the construction company’s stock worth $151,000 after purchasing an additional 855 shares during the period. Rhumbline Advisers boosted its position in shares of Layne Christensen by 8.8% in the second quarter. Rhumbline Advisers now owns 21,629 shares of the construction company’s stock worth $190,000 after purchasing an additional 1,755 shares during the period. KBC Group NV boosted its position in shares of Layne Christensen by 1.1% in the second quarter. KBC Group NV now owns 228,653 shares of the construction company’s stock worth $2,010,000 after purchasing an additional 2,515 shares during the period. Finally, Teachers Advisors LLC boosted its position in shares of Layne Christensen by 11.5% in the second quarter. Teachers Advisors LLC now owns 35,051 shares of the construction company’s stock worth $308,000 after purchasing an additional 3,619 shares during the period. Institutional investors and hedge funds own 89.38% of the company’s stock.
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Layne Christensen (NASDAQ:LAYN) last posted its earnings results on Monday, September 11th. The construction company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.07. The firm had revenue of $126.20 million during the quarter, compared to analyst estimates of $122.99 million. Layne Christensen had a negative net margin of 12.66% and a negative return on equity of 35.55%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.21) EPS.
A number of equities analysts have weighed in on LAYN shares. ValuEngine upgraded shares of Layne Christensen from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Jefferies Group LLC reiterated a “hold” rating and issued a $11.00 price target (up from $9.00) on shares of Layne Christensen in a research report on Thursday, September 14th. Finally, Zacks Investment Research lowered shares of Layne Christensen from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th.
Layne Christensen 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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