Simplicity Wealth LLC Buys New Shares in DHT Holdings, Inc. (NYSE:DHT)

Simplicity Wealth LLC bought a new stake in shares of DHT Holdings, Inc. (NYSE:DHT) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 11,222 shares of the shipping company’s stock, valued at approximately $129,000.

A number of other large investors also recently modified their holdings of the company. HighTower Advisors LLC lifted its stake in shares of DHT by 5.1% during the 3rd quarter. HighTower Advisors LLC now owns 27,694 shares of the shipping company’s stock valued at $286,000 after buying an additional 1,341 shares in the last quarter. Olympiad Research LP lifted its stake in DHT by 6.6% in the 4th quarter. Olympiad Research LP now owns 41,180 shares of the shipping company’s stock worth $404,000 after purchasing an additional 2,552 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in DHT by 45.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,178 shares of the shipping company’s stock worth $95,000 after purchasing an additional 2,882 shares in the last quarter. National Bank of Canada FI lifted its stake in DHT by 150.0% in the 4th quarter. National Bank of Canada FI now owns 5,000 shares of the shipping company’s stock worth $50,000 after purchasing an additional 3,000 shares in the last quarter. Finally, McIlrath & Eck LLC purchased a new stake in DHT in the 3rd quarter worth $52,000. Hedge funds and other institutional investors own 58.53% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on DHT shares. Jefferies Financial Group upgraded shares of DHT from a “hold” rating to a “buy” rating and boosted their price target for the stock from $11.00 to $14.00 in a research note on Thursday, March 21st. Stifel Nicolaus reiterated a “hold” rating and issued a $12.00 price target on shares of DHT in a research note on Wednesday, May 15th. Truist Financial boosted their price target on shares of DHT from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, TheStreet upgraded shares of DHT from a “c+” rating to a “b-” rating in a research note on Tuesday, February 6th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, DHT currently has an average rating of “Moderate Buy” and an average price target of $14.33.

DHT Price Performance

Shares of DHT stock traded up $0.08 during trading hours on Friday, reaching $12.21. The company’s stock had a trading volume of 1,215,969 shares, compared to its average volume of 1,817,292. The firm has a 50 day moving average price of $11.65 and a 200-day moving average price of $10.95. DHT Holdings, Inc. has a one year low of $7.60 and a one year high of $12.80. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.30 and a quick ratio of 2.94. The stock has a market cap of $1.97 billion, a P/E ratio of 11.63 and a beta of -0.34.

DHT (NYSE:DHT) last posted its earnings results on Tuesday, May 14th. The shipping company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). DHT had a return on equity of 16.34% and a net margin of 29.58%. The business had revenue of $106.30 million during the quarter, compared to the consensus estimate of $106.87 million. During the same quarter last year, the firm earned $0.23 earnings per share. The business’s quarterly revenue was up 13.2% on a year-over-year basis. On average, analysts predict that DHT Holdings, Inc. will post 1.49 EPS for the current year.

DHT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 24th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 9.50%. This is an increase from DHT’s previous quarterly dividend of $0.22. The ex-dividend date is Thursday, May 23rd. DHT’s dividend payout ratio is presently 110.48%.

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.