Raymond James & Associates Invests $5 Million in DHT Holdings, Inc. (NYSE:DHT)

Raymond James & Associates purchased a new position in DHT Holdings, Inc. (NYSE:DHT) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 453,693 shares of the shipping company’s stock, valued at approximately $5,004,000. Raymond James & Associates owned 0.28% of DHT at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Russell Investments Group Ltd. increased its stake in shares of DHT by 8.7% in the first quarter. Russell Investments Group Ltd. now owns 619,634 shares of the shipping company’s stock worth $7,126,000 after purchasing an additional 49,657 shares in the last quarter. Boston Partners raised its holdings in DHT by 74.6% in the 1st quarter. Boston Partners now owns 163,512 shares of the shipping company’s stock worth $1,880,000 after purchasing an additional 69,838 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of DHT in the 1st quarter worth about $1,602,000. M&G Plc bought a new position in shares of DHT in the 1st quarter worth about $16,417,000. Finally, Vanguard Group Inc. increased its stake in shares of DHT by 15.2% in the 1st quarter. Vanguard Group Inc. now owns 998,097 shares of the shipping company’s stock worth $11,478,000 after acquiring an additional 132,039 shares in the last quarter. 58.53% of the stock is currently owned by institutional investors and hedge funds.

DHT Stock Performance

DHT stock opened at $10.30 on Friday. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 10.61 and a beta of -0.36. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.33 and a current ratio of 2.87. The firm has a 50-day simple moving average of $10.97 and a two-hundred day simple moving average of $11.34. DHT Holdings, Inc. has a one year low of $9.28 and a one year high of $12.80.

DHT (NYSE:DHT) last issued its quarterly earnings results on Monday, August 12th. The shipping company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). The business had revenue of $103.70 million during the quarter, compared to analyst estimates of $102.75 million. DHT had a return on equity of 15.19% and a net margin of 27.45%. DHT’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.35 EPS. On average, equities analysts forecast that DHT Holdings, Inc. will post 1.02 EPS for the current fiscal year.

DHT Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 23rd were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.08 annualized dividend and a dividend yield of 10.49%. DHT’s dividend payout ratio is presently 111.34%.

Wall Street Analysts Forecast Growth

DHT has been the subject of several recent research reports. StockNews.com lowered shares of DHT from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Fearnley Fonds raised shares of DHT to a “strong-buy” rating in a report on Friday, September 27th. Stifel Nicolaus reduced their price target on shares of DHT from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. Finally, BTIG Research began coverage on shares of DHT in a research report on Tuesday, October 15th. They set a “buy” rating and a $16.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $14.50.

DHT Company 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.