California Public Employees Retirement System trimmed its position in shares of Layne Christensen Company (NASDAQ:LAYN) by 7.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 208,100 shares of the construction company’s stock after selling 16,200 shares during the quarter. California Public Employees Retirement System owned approximately 1.05% of Layne Christensen worth $1,829,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in LAYN. Dimensional Fund Advisors LP lifted its position in shares of Layne Christensen by 9.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,135,219 shares of the construction company’s stock worth $10,035,000 after purchasing an additional 96,511 shares in the last quarter. Crystal Rock Capital Management lifted its position in shares of Layne Christensen by 75.1% during the second quarter. Crystal Rock Capital Management now owns 197,648 shares of the construction company’s stock worth $1,737,000 after purchasing an additional 84,795 shares in the last quarter. Royce & Associates LP lifted its position in shares of Layne Christensen by 3.6% during the second quarter. Royce & Associates LP now owns 1,953,571 shares of the construction company’s stock worth $17,172,000 after purchasing an additional 68,599 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in shares of Layne Christensen during the second quarter worth approximately $416,000. Finally, Wells Fargo & Company MN lifted its position in shares of Layne Christensen by 139.2% during the second quarter. Wells Fargo & Company MN now owns 40,670 shares of the construction company’s stock worth $358,000 after purchasing an additional 23,670 shares in the last quarter. Institutional investors own 89.38% of the company’s stock.

Layne Christensen Company (NASDAQ:LAYN) opened at $13.38 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.38 and a debt-to-equity ratio of 2.93.

Layne Christensen (NASDAQ:LAYN) last released its quarterly earnings data on Monday, September 11th. The construction company reported ($0.11) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.07. The business had revenue of $126.20 million during the quarter, compared to analysts’ expectations of $122.99 million. Layne Christensen had a negative return on equity of 35.55% and a negative net margin of 12.66%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.21) EPS. research analysts anticipate that Layne Christensen Company will post -0.36 earnings per share for the current year.

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A number of equities analysts have recently issued reports on LAYN shares. Jefferies Group LLC reiterated a “hold” rating and set a $9.00 target price on shares of Layne Christensen in a research report on Friday, August 4th. ValuEngine upgraded shares of Layne Christensen from a “sell” rating to a “hold” rating in a research report on Wednesday, September 13th. 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.

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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Institutional Ownership by Quarter for Layne Christensen (NASDAQ:LAYN)

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