Principal Financial Group Inc. Buys 51,140 Shares of DHT Holdings, Inc. $DHT

Principal Financial Group Inc. boosted its position in DHT Holdings, Inc. (NYSE:DHT) by 26.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 244,432 shares of the shipping company’s stock after purchasing an additional 51,140 shares during the quarter. Principal Financial Group Inc.’s holdings in DHT were worth $4,466,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. State of Alaska Department of Revenue raised its position in shares of DHT by 593.3% during the 4th quarter. State of Alaska Department of Revenue now owns 41,145 shares of the shipping company’s stock worth $501,000 after purchasing an additional 35,210 shares during the last quarter. Artemis Investment Management LLP acquired a new stake in DHT in the 4th quarter worth about $2,720,000. SG Americas Securities LLC increased its stake in DHT by 294.9% during the 4th quarter. SG Americas Securities LLC now owns 406,294 shares of the shipping company’s stock worth $4,961,000 after buying an additional 303,401 shares in the last quarter. Strs Ohio purchased a new stake in DHT during the 4th quarter worth approximately $774,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of DHT during the first quarter valued at approximately $1,186,000. 58.53% of the stock is owned by hedge funds and other institutional investors.

DHT Stock Performance

Shares of DHT stock opened at $18.60 on Wednesday. DHT Holdings, Inc. has a one year low of $10.69 and a one year high of $20.55. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 9.03 and a beta of -0.11. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.62 and a current ratio of 1.83. The business’s 50 day moving average price is $17.60 and its 200 day moving average price is $17.12.

DHT (NYSE:DHT) last posted its quarterly earnings results on Tuesday, May 5th. The shipping company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. The business had revenue of $157.20 million for the quarter, compared to analyst estimates of $152.15 million. DHT had a return on equity of 27.54% and a net margin of 58.54%.The company’s quarterly revenue was up 134.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 EPS.

DHT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 21st were issued a $0.64 dividend. This is a boost from DHT’s previous quarterly dividend of $0.41. This represents a $2.56 dividend on an annualized basis and a yield of 13.8%. The ex-dividend date was Thursday, May 21st. DHT’s payout ratio is currently 124.27%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on DHT shares. Wall Street Zen raised DHT from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Evercore downgraded DHT from an “outperform” rating to an “in-line” rating and set a $19.00 price objective for the company. in a research note on Wednesday, April 22nd. Weiss Ratings lowered DHT from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, July 23rd. Finally, BTIG Research lifted their target price on shares of DHT from $18.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.33.

DHT Profile

DHT Holdings, Inc (NYSE: DHT) is a Bermuda-based independent crude oil tanker company that provides seaborne transportation of crude oil on a worldwide basis. The company’s core business involves the ownership and operation of a modern fleet of Very Large Crude Carriers (VLCCs) and Suezmax tankers, which are chartered to oil producers, trading houses and national oil companies. Through spot charters, time-charters and tanker pooling arrangements, DHT connects crude oil exporters with refining hubs in Asia, Europe, North America and other global markets.

Founded in 2005 and listed on the New York Stock Exchange later that year, DHT has grown its presence in the maritime sector by focusing on operational efficiency and disciplined capital management.