Allspring Global Investments Holdings LLC Has $173,000 Stock Position in DHT Holdings, Inc. (NYSE:DHT)

Allspring Global Investments Holdings LLC raised its holdings in shares of DHT Holdings, Inc. (NYSE:DHT) by 92.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,654 shares of the shipping company’s stock after purchasing an additional 8,476 shares during the period. Allspring Global Investments Holdings LLC’s holdings in DHT were worth $173,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. McIlrath & Eck LLC acquired a new position in shares of DHT during the 3rd quarter worth about $52,000. CWM LLC raised its holdings in DHT by 3,696.2% during the 3rd quarter. CWM LLC now owns 6,985 shares of the shipping company’s stock worth $72,000 after buying an additional 6,801 shares during the period. Raymond James & Associates bought a new stake in shares of DHT during the fourth quarter worth $128,000. SG Americas Securities LLC bought a new stake in DHT in the 3rd quarter valued at $165,000. Finally, Gallacher Capital Management LLC bought a new stake in shares of DHT in the third quarter valued at about $186,000. Institutional investors own 58.53% of the company’s stock.

DHT Stock Performance

NYSE DHT opened at $11.51 on Monday. The stock has a market cap of $1.86 billion, a PE ratio of 11.63 and a beta of -0.33. The firm has a 50-day moving average of $11.22 and a 200-day moving average of $10.79. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.94 and a current ratio of 3.54. DHT Holdings, Inc. has a 52-week low of $7.30 and a 52-week high of $11.95.

DHT (NYSE:DHT) last posted its earnings results on Tuesday, February 6th. The shipping company reported $0.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.22. The company had revenue of $94.50 million during the quarter, compared to the consensus estimate of $95.78 million. DHT had a return on equity of 15.52% and a net margin of 28.78%. The company’s revenue was down 19.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 earnings per share. On average, sell-side analysts anticipate that DHT Holdings, Inc. will post 1.53 EPS for the current year.

DHT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 21st were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 7.65%. The ex-dividend date was Tuesday, February 20th. This is an increase from DHT’s previous quarterly dividend of $0.19. DHT’s payout ratio is 88.89%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DHT. Truist Financial boosted their price objective on shares of DHT from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Jefferies Financial Group upgraded DHT from a “hold” rating to a “buy” rating and upped their target price for the stock from $11.00 to $14.00 in a report on Thursday, March 21st. Finally, TheStreet raised DHT from a “c+” rating to a “b-” rating in a research report on Tuesday, February 6th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

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.