State Board of Administration of Florida Retirement System Cuts Position in DHT Holdings, Inc. $DHT

State Board of Administration of Florida Retirement System cut its holdings in DHT Holdings, Inc. (NYSE:DHT) by 20.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 188,472 shares of the shipping company’s stock after selling 48,657 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.12% of DHT worth $2,037,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Harbour Investments Inc. raised its position in DHT by 26.7% during the first quarter. Harbour Investments Inc. now owns 6,637 shares of the shipping company’s stock worth $70,000 after acquiring an additional 1,400 shares during the period. Virtu Financial LLC acquired a new position in shares of DHT during the 1st quarter worth about $130,000. Nuveen LLC purchased a new position in DHT in the 1st quarter valued at about $3,660,000. Fox Run Management L.L.C. acquired a new stake in DHT in the 1st quarter worth about $506,000. Finally, Ethic Inc. increased its stake in DHT by 8.0% during the 1st quarter. Ethic Inc. now owns 56,077 shares of the shipping company’s stock worth $592,000 after buying an additional 4,147 shares in the last quarter. Institutional investors and hedge funds own 58.53% of the company’s stock.

DHT Stock Performance

Shares of DHT stock opened at $12.75 on Friday. The business’s 50 day moving average price is $12.65 and its 200 day moving average price is $11.94. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 10.28 and a beta of -0.08. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.02 and a current ratio of 2.41. DHT Holdings, Inc. has a one year low of $8.67 and a one year high of $13.85.

DHT (NYSE:DHT) last issued its earnings results on Wednesday, October 29th. The shipping company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.11. DHT had a return on equity of 17.05% and a net margin of 41.17%.The business had revenue of $107.35 million during the quarter, compared to the consensus estimate of $78.83 million. During the same period last year, the company earned $0.22 EPS. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. On average, research analysts predict that DHT Holdings, Inc. will post 0.94 EPS for the current year.

DHT Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Wednesday, November 12th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 5.6%. The ex-dividend date was Wednesday, November 12th. DHT’s dividend payout ratio (DPR) is presently 58.06%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on DHT shares. Zacks Research upgraded DHT to a “hold” rating in a research report on Monday, August 11th. Weiss Ratings reissued a “buy (b)” rating on shares of DHT in a research note on Wednesday, October 8th. Evercore ISI raised their price objective on DHT from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. Wall Street Zen raised shares of DHT from a “hold” rating to a “buy” rating in a report on Monday, December 1st. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $16.00 target price on shares of DHT in a research report on Thursday, October 30th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $14.18.

DHT Profile

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, and Norway. The company also offers technical management services. As of March 15, 2024, it had a fleet of 24 very large crude carriers. The company was incorporated in 2005 and is headquartered in Hamilton, Bermuda.