Gamco Investors INC. ET AL trimmed its position in shares of Layne Christensen (NASDAQ:LAYN) by 7.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,099,500 shares of the construction company’s stock after selling 88,600 shares during the period. Gamco Investors INC. ET AL owned about 0.06% of Layne Christensen worth $13,799,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of LAYN. Alliancebernstein L.P. bought a new position in shares of Layne Christensen during the second quarter valued at about $119,000. Nationwide Fund Advisors raised its stake 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 valued at $128,000 after acquiring an additional 428 shares during the last quarter. Virtu KCG Holdings LLC bought a new position in shares of Layne Christensen during the second quarter valued at about $130,000. Jane Street Group LLC bought a new position in shares of Layne Christensen during the third quarter valued at about $162,000. Finally, Rhumbline Advisers raised its stake 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 valued at $190,000 after acquiring an additional 1,755 shares during the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently issued reports on LAYN shares. BidaskClub raised shares of Layne Christensen from a “hold” rating to a “buy” rating in a research note on Wednesday, December 20th. Zacks Investment Research raised shares of Layne Christensen from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, ValuEngine downgraded shares of Layne Christensen from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $11.00.
Layne Christensen (NASDAQ:LAYN) last released its quarterly earnings results on Tuesday, December 5th. The construction company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.07). Layne Christensen had a negative return on equity of 40.46% and a negative net margin of 12.73%. The company had revenue of $127.43 million during the quarter, compared to the consensus estimate of $131.12 million. During the same period in the previous year, the company earned ($0.26) earnings per share. Layne Christensen’s quarterly revenue was up 5.7% on a year-over-year basis. research analysts forecast that Layne Christensen will post -0.51 EPS for the current fiscal year.
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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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