M&G Plc Has $14.25 Million Stock Position in DHT Holdings, Inc. (NYSE:DHT)

M&G Plc lowered its holdings in shares of DHT Holdings, Inc. (NYSE:DHT) by 13.2% during the second quarter, Holdings Channel reports. The firm owned 1,187,495 shares of the shipping company’s stock after selling 180,626 shares during the period. M&G Plc’s holdings in DHT were worth $14,250,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Greenlight Capital Inc. raised its stake in DHT by 86.7% during the 4th quarter. Greenlight Capital Inc. now owns 3,779,880 shares of the shipping company’s stock valued at $37,081,000 after purchasing an additional 1,755,060 shares during the last quarter. M&G Investment Management Ltd. acquired a new stake in DHT during the 4th quarter valued at $11,223,000. Significant Wealth Partners LLC acquired a new stake in DHT during the 4th quarter valued at $4,640,000. Trexquant Investment LP acquired a new stake in DHT during the 4th quarter valued at $2,756,000. Finally, Glenorchy Capital Ltd acquired a new stake in DHT during the 4th quarter valued at $2,684,000. Institutional investors own 58.53% of the company’s stock.

DHT Stock Down 3.4 %

NYSE DHT opened at $10.75 on Wednesday. The stock has a fifty day moving average of $11.37 and a 200-day moving average of $11.41. The stock has a market capitalization of $1.73 billion, a P/E ratio of 10.24 and a beta of -0.35. DHT Holdings, Inc. has a 52 week low of $8.60 and a 52 week high of $12.80. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.69 and a current ratio of 3.30.

DHT (NYSE:DHT) last posted its quarterly earnings results on Monday, August 12th. The shipping company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01). DHT had a return on equity of 16.34% and a net margin of 29.58%. The company had revenue of $103.70 million during the quarter, compared to the consensus estimate of $102.75 million. During the same quarter in the prior year, the business earned $0.35 earnings per share. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. On average, equities research analysts forecast that DHT Holdings, Inc. will post 1.22 EPS for the current year.

DHT Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 23rd will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $1.08 annualized dividend and a dividend yield of 10.05%. DHT’s dividend payout ratio is currently 110.48%.

Analyst Ratings Changes

Separately, Stifel Nicolaus lifted their target price on DHT from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.67.

DHT 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.