Principal Financial Group Inc. Increases Position in DHT Holdings, Inc. (NYSE:DHT)

Principal Financial Group Inc. boosted its holdings in shares of DHT Holdings, Inc. (NYSE:DHT) by 21.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 98,565 shares of the shipping company’s stock after purchasing an additional 17,094 shares during the quarter. Principal Financial Group Inc. owned approximately 0.06% of DHT worth $1,087,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its stake in DHT by 2.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 48,435 shares of the shipping company’s stock valued at $560,000 after acquiring an additional 1,172 shares during the period. ProShare Advisors LLC increased its stake in shares of DHT by 7.2% during the first quarter. ProShare Advisors LLC now owns 24,358 shares of the shipping company’s stock worth $280,000 after purchasing an additional 1,640 shares in the last quarter. MQS Management LLC raised its position in shares of DHT by 7.3% during the 2nd quarter. MQS Management LLC now owns 24,423 shares of the shipping company’s stock worth $283,000 after purchasing an additional 1,662 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in DHT by 52.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,888 shares of the shipping company’s stock valued at $76,000 after buying an additional 2,361 shares in the last quarter. Finally, Pinion Investment Advisors LLC boosted its holdings in DHT by 6.3% in the 2nd quarter. Pinion Investment Advisors LLC now owns 46,643 shares of the shipping company’s stock worth $540,000 after buying an additional 2,773 shares during the last quarter. 58.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. StockNews.com raised DHT from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. BTIG Research initiated coverage on DHT in a report on Tuesday, October 15th. They issued a “buy” rating and a $16.00 price objective on the stock. Stifel Nicolaus lowered their target price on shares of DHT from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, October 23rd. Jefferies Financial Group reiterated a “buy” rating and issued a $14.00 target price on shares of DHT in a research report on Wednesday, November 13th. Finally, Fearnley Fonds upgraded shares of DHT to a “strong-buy” rating in a research report on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $14.50.

DHT Stock Up 0.8 %

Shares of DHT opened at $10.23 on Friday. DHT Holdings, Inc. has a 52-week low of $9.28 and a 52-week high of $12.80. The company has a quick ratio of 1.97, a current ratio of 2.41 and a debt-to-equity ratio of 0.35. The stock has a fifty day simple moving average of $10.91 and a two-hundred day simple moving average of $11.23. The company has a market capitalization of $1.65 billion, a PE ratio of 10.23 and a beta of -0.36.

DHT (NYSE:DHT) last released its quarterly earnings data on Tuesday, November 12th. The shipping company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. DHT had a net margin of 27.72% and a return on equity of 15.58%. The firm had revenue of $92.64 million during the quarter, compared to analysts’ expectations of $87.51 million. During the same period last year, the business earned $0.19 earnings per share. DHT’s revenue was up 4.0% compared to the same quarter last year. As a group, equities analysts forecast that DHT Holdings, Inc. will post 1 EPS for the current year.

DHT Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 22nd will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 8.60%. The ex-dividend date of this dividend is Friday, November 22nd. DHT’s dividend payout ratio is presently 108.00%.

About DHT

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.