New York State Common Retirement Fund Reduces Stock Position in DHT Holdings, Inc. (NYSE:DHT)

New York State Common Retirement Fund lessened its stake in shares of DHT Holdings, Inc. (NYSE:DHT) by 45.1% in the fourth quarter, HoldingsChannel reports. The firm owned 43,043 shares of the shipping company’s stock after selling 35,416 shares during the quarter. New York State Common Retirement Fund’s holdings in DHT were worth $400,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in DHT by 10.0% in the 3rd quarter. FMR LLC now owns 24,193,014 shares of the shipping company’s stock valued at $266,849,000 after buying an additional 2,195,916 shares during the period. Wasatch Advisors LP acquired a new position in shares of DHT in the 3rd quarter valued at about $55,472,000. Two Sigma Advisers LP lifted its stake in shares of DHT by 15.7% in the 3rd quarter. Two Sigma Advisers LP now owns 2,102,800 shares of the shipping company’s stock valued at $23,194,000 after purchasing an additional 284,900 shares in the last quarter. M&G PLC lifted its stake in shares of DHT by 1.4% in the 3rd quarter. M&G PLC now owns 1,204,231 shares of the shipping company’s stock valued at $13,247,000 after purchasing an additional 16,736 shares in the last quarter. Finally, Congress Asset Management Co. lifted its stake in shares of DHT by 4.4% in the 4th quarter. Congress Asset Management Co. now owns 433,059 shares of the shipping company’s stock valued at $4,023,000 after purchasing an additional 18,431 shares in the last quarter. Hedge funds and other institutional investors own 58.53% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Kepler Capital Markets lowered DHT from a “buy” rating to a “hold” rating and set a $9.70 price objective on the stock. in a research note on Thursday, December 12th. StockNews.com upgraded DHT from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Finally, Jefferies Financial Group upped their price target on DHT from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, DHT currently has a consensus rating of “Moderate Buy” and an average price target of $12.68.

DHT Price Performance

Shares of NYSE DHT opened at $10.53 on Wednesday. DHT Holdings, Inc. has a twelve month low of $8.67 and a twelve month high of $12.80. The company has a current ratio of 1.84, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 9.40 and a beta of -0.39. The business has a 50 day simple moving average of $10.62 and a 200-day simple moving average of $10.55.

DHT (NYSE:DHT) last issued its quarterly earnings data on Wednesday, February 5th. The shipping company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.12. DHT had a return on equity of 17.42% and a net margin of 31.72%. As a group, equities research analysts expect that DHT Holdings, Inc. will post 0.94 earnings per share for the current year.

DHT Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 18th were issued a $0.17 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.68 annualized dividend and a dividend yield of 6.46%. DHT’s dividend payout ratio (DPR) is 60.71%.

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.