Engineers Gate Manager LP Has $951,000 Stock Position in CMB.TECH nv $CMBT

Key Points

• Engineers Gate Manager LP cut its CMB.TECH position by 53.5% in the second quarter, selling 78,301 shares and retaining 67,954 shares valued at approximately $951,000.
• Several institutions increased exposure, including BTG Pactual Asset Management and Bank of America, while CMB.TECH reported quarterly revenue of $703.94 million and EPS of $1.26.
• CMBT shares opened at $20.28, near their 52-week high of $20.82. Analysts maintain an overall “Buy” rating, although some have downgraded the stock to “Hold.”

Engineers Gate Manager LP lowered its position in CMB.TECH nv (NYSE:CMBT - Free Report) by 53.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 67,954 shares of the company's stock after selling 78,301 shares during the quarter. Engineers Gate Manager LP's holdings in CMB.TECH were worth $951,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Integrated Wealth Concepts LLC bought a new position in CMB.TECH in the second quarter worth $46,000. BTG Pactual Asset Management US LLC raised its stake in shares of CMB.TECH by 528.9% in the 2nd quarter. BTG Pactual Asset Management US LLC now owns 559,729 shares of the company's stock valued at $7,831,000 after buying an additional 470,726 shares in the last quarter. Optiver Holding B.V. lifted its holdings in shares of CMB.TECH by 145.7% during the 1st quarter. Optiver Holding B.V. now owns 12,473 shares of the company's stock worth $158,000 after acquiring an additional 7,397 shares during the period. Bank of America Corp DE lifted its holdings in shares of CMB.TECH by 526.9% during the 1st quarter. Bank of America Corp DE now owns 1,072,822 shares of the company's stock worth $13,571,000 after acquiring an additional 901,688 shares during the period. Finally, Amundi acquired a new stake in shares of CMB.TECH during the 1st quarter valued at about $246,000.

CMB.TECH Stock Performance

NYSE:CMBT opened at $20.28 on Friday. The stock has a market capitalization of $4.04 billion, a P/E ratio of 6.97 and a beta of 0.14. The company has a current ratio of 1.12, a quick ratio of 0.97 and a debt-to-equity ratio of 1.56. CMB.TECH nv has a 1 year low of $8.88 and a 1 year high of $20.82. The firm has a 50 day moving average of $17.33 and a 200-day moving average of $15.24.

CMB.TECH (NYSE:CMBT - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported $1.26 EPS for the quarter. CMB.TECH had a return on equity of 30.02% and a net margin of 37.19%.The business had revenue of $703.94 million for the quarter.

Analysts Set New Price Targets

CMBT has been the subject of several recent research reports. Weiss Ratings reissued a "hold (c+)" rating on shares of CMB.TECH in a research report on Tuesday, August 25th. Wall Street Zen lowered CMB.TECH from a "buy" rating to a "hold" rating in a research note on Saturday, September 5th. Two analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, CMB.TECH has an average rating of "Buy".

CMB.TECH Company Profile

CMB.TECH is a diversified maritime and clean-technology company headquartered in Antwerp, Belgium. The company owns and operates ocean-going vessels across several shipping segments, including dry bulk, container shipping, chemical tankers and offshore wind support. Its activities serve international customers and global trade routes.

In addition to conventional maritime transportation, CMB.TECH develops and applies alternative-fuel and low-emission technologies for shipping. Its clean-technology activities include the use of hydrogen, ammonia and other alternative energy solutions, as well as related fueling infrastructure and applications for marine and other heavy-duty transport.

The company traces its roots to Compagnie Maritime Belge, a Belgian shipping group established in 1895.

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