Jacobs Levy Equity Management Inc. Sells 687,441 Shares of DHT Holdings, Inc. (NYSE:DHT)

Jacobs Levy Equity Management Inc. reduced its position in shares of DHT Holdings, Inc. (NYSE:DHT) by 81.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 157,710 shares of the shipping company’s stock after selling 687,441 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.10% of DHT worth $1,740,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DHT. Wasatch Advisors LP bought a new stake in shares of DHT during the third quarter worth $55,472,000. FMR LLC lifted its position in DHT by 10.0% during the 3rd quarter. FMR LLC now owns 24,193,014 shares of the shipping company’s stock worth $266,849,000 after buying an additional 2,195,916 shares in the last quarter. Acadian Asset Management LLC grew its holdings in DHT by 43.8% during the 2nd quarter. Acadian Asset Management LLC now owns 3,388,665 shares of the shipping company’s stock worth $39,184,000 after acquiring an additional 1,032,832 shares during the last quarter. American Century Companies Inc. increased its position in DHT by 43.8% in the 2nd quarter. American Century Companies Inc. now owns 2,868,023 shares of the shipping company’s stock valued at $33,183,000 after acquiring an additional 873,356 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of DHT by 1,144.6% in the third quarter. International Assets Investment Management LLC now owns 678,808 shares of the shipping company’s stock worth $7,487,000 after acquiring an additional 624,266 shares during the last quarter. 58.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

DHT Stock Performance

Shares of DHT stock opened at $9.42 on Monday. The stock has a market cap of $1.52 billion, a PE ratio of 9.42 and a beta of -0.37. The stock has a 50-day moving average of $10.63 and a 200-day moving average of $11.03. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 1.97. DHT Holdings, Inc. has a one year low of $9.23 and a one year high of $12.80.

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

DHT Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 22nd were issued a dividend of $0.22 per share. The ex-dividend date was Friday, November 22nd. This represents a $0.88 annualized dividend and a yield of 9.34%. DHT’s dividend payout ratio is presently 88.00%.

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.