Rock Point Advisors LLC lowered its stake in shares of Layne Christensen Co. (NASDAQ:LAYN) by 3.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 551,142 shares of the company’s stock after selling 17,320 shares during the period. Layne Christensen comprises about 2.4% of Rock Point Advisors LLC’s investment portfolio, making the stock its 17th largest position. Rock Point Advisors LLC’s holdings in Layne Christensen were worth $4,464,000 as of its most recent filing with the SEC.
Separately, Jacobs Levy Equity Management Inc. acquired a new position in Layne Christensen during the first quarter valued at $232,000. Institutional investors own 93.51% of the company’s stock.
Shares of Layne Christensen Co. (NASDAQ:LAYN) traded up 0.72% during trading on Monday, reaching $8.35. 32,436 shares of the company’s stock were exchanged. Layne Christensen Co. has a 52-week low of $3.75 and a 52-week high of $9.56. The company has a 50 day moving average of $8.47 and a 200 day moving average of $8.35. The firm’s market capitalization is $165.37 million.
Layne Christensen (NASDAQ:LAYN) last issued its quarterly earnings results on Tuesday, September 6th. The company reported ($0.26) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by $0.06. The firm earned $159.05 million during the quarter, compared to analysts’ expectations of $164.19 million. Layne Christensen had a negative net margin of 5.25% and a negative return on equity of 23.75%. The firm’s revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the company posted ($1.19) EPS. Equities analysts anticipate that Layne Christensen Co. will post ($1.12) earnings per share for the current fiscal year.
LAYN has been the topic of several recent research reports. Jefferies Group restated a “hold” rating on shares of Layne Christensen in a report on Monday, August 15th. TheStreet upgraded shares of Layne Christensen from a “sell” rating to a “hold” rating in a report on Wednesday, September 7th. Zacks Investment Research lowered shares of Layne Christensen from a “hold” rating to a “sell” rating in a report on Saturday, September 10th. Finally, DA Davidson set a $9.00 target price on shares of Layne Christensen and gave the company a “hold” rating in a report on Sunday, September 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $8.60.
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 four segments: Water Resources, Inliner, Heavy Civil and Mineral Services.
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