Westchester Capital Management LLC Sells 700,100 Shares of Nabors Energy Transition Corp. II $NETD

Key Points

• Westchester Capital Management LLC sold 700,100 shares of Nabors Energy Transition Corp. II ($NETD), reducing its holdings by 48.8% to own approximately 734,265 shares worth $8,040,000.
• Institutional investors currently own 75.52% of Nabors Energy Transition Corp. II, indicating a strong interest from larger financial entities.
• Major shareholder Mizuho Securities USA LLC recently sold 565,000 shares, which represents a 31.39% decrease in their position in the company.

Westchester Capital Management LLC trimmed its position in Nabors Energy Transition Corp. II (NASDAQ:NETD - Free Report) by 48.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 734,265 shares of the company's stock after selling 700,100 shares during the quarter. Westchester Capital Management LLC owned 1.93% of Nabors Energy Transition Corp. II worth $8,040,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC raised its stake in Nabors Energy Transition Corp. II by 7.8% during the fourth quarter. Geode Capital Management LLC now owns 30,176 shares of the company's stock worth $326,000 after acquiring an additional 2,194 shares in the last quarter. Quarry LP acquired a new position in Nabors Energy Transition Corp. II during the fourth quarter worth $128,000. Berkley W R Corp raised its stake in Nabors Energy Transition Corp. II by 15.7% during the fourth quarter. Berkley W R Corp now owns 565,987 shares of the company's stock worth $6,113,000 after acquiring an additional 76,721 shares in the last quarter. Bulldog Investors LLP raised its stake in Nabors Energy Transition Corp. II by 14.0% during the fourth quarter. Bulldog Investors LLP now owns 281,360 shares of the company's stock worth $3,043,000 after acquiring an additional 34,454 shares in the last quarter. Finally, Centiva Capital LP acquired a new position in Nabors Energy Transition Corp. II during the fourth quarter worth $1,959,000. 75.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Nabors Energy Transition Corp. II

In related news, major shareholder Mizuho Securities Usa Llc sold 565,000 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $11.18, for a total value of $6,316,700.00. Following the transaction, the insider owned 1,235,000 shares in the company, valued at $13,807,300. This trade represents a 31.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 20.00% of the stock is currently owned by corporate insiders.

Nabors Energy Transition Corp. II Stock Down 0.1%

Nabors Energy Transition Corp. II stock traded down $0.02 during mid-day trading on Friday, hitting $11.28. 408 shares of the company were exchanged, compared to its average volume of 4,365. The business has a fifty day moving average of $11.19 and a 200 day moving average of $11.07. Nabors Energy Transition Corp. II has a 1-year low of $10.57 and a 1-year high of $11.47. The company has a market capitalization of $240.91 million, a PE ratio of 59.39 and a beta of -0.02.

Nabors Energy Transition Corp. II (NASDAQ:NETD - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported $0.06 EPS for the quarter.

Nabors Energy Transition Corp. II Company Profile

Nabors Energy Transition Corp. II focuses on effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. The company intends to identify solutions, opportunities, companies, or technologies that focus on advancing the energy transition that facilitate, improve, or complement the reduction of carbon or greenhouse gas emissions.