First Republic Investment Management Inc. lifted its position in Las Vegas Sands Corp. (NYSE:LVS) by 23.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 355,394 shares of the casino operator’s stock after buying an additional 66,769 shares during the period. First Republic Investment Management Inc.’s holdings in Las Vegas Sands were worth $21,085,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Marathon Asset Management LLP acquired a new position in shares of Las Vegas Sands in the 3rd quarter worth $404,981,000. BlackRock Inc. grew its holdings in shares of Las Vegas Sands by 20.5% in the 2nd quarter. BlackRock Inc. now owns 19,856,347 shares of the casino operator’s stock worth $1,516,232,000 after acquiring an additional 3,371,432 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Las Vegas Sands by 1,396.2% in the 3rd quarter. Renaissance Technologies LLC now owns 2,361,000 shares of the casino operator’s stock worth $140,078,000 after acquiring an additional 2,203,200 shares during the last quarter. Schroder Investment Management Group grew its holdings in shares of Las Vegas Sands by 58.4% in the 2nd quarter. Schroder Investment Management Group now owns 3,132,036 shares of the casino operator’s stock worth $236,844,000 after acquiring an additional 1,154,672 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Las Vegas Sands by 190.8% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,558,023 shares of the casino operator’s stock worth $92,438,000 after acquiring an additional 1,022,300 shares during the last quarter. 37.08% of the stock is currently owned by institutional investors.
Shares of LVS stock opened at $53.34 on Friday. Las Vegas Sands Corp. has a 1-year low of $48.64 and a 1-year high of $81.45. The company has a current ratio of 1.93, a quick ratio of 1.92 and a debt-to-equity ratio of 1.52. The firm has a market cap of $43.64 billion, a PE ratio of 16.24 and a beta of 1.61.
Las Vegas Sands (NYSE:LVS) last issued its quarterly earnings results on Wednesday, October 24th. The casino operator reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.04). Las Vegas Sands had a net margin of 27.71% and a return on equity of 34.18%. The business had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.41 billion. On average, equities research analysts anticipate that Las Vegas Sands Corp. will post 3.4 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Stockholders of record on Tuesday, December 18th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, December 17th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 5.62%. Las Vegas Sands’s dividend payout ratio is 98.68%.
A number of brokerages recently issued reports on LVS. Credit Suisse Group began coverage on Las Vegas Sands in a report on Tuesday, August 14th. They issued a “neutral” rating and a $72.00 target price on the stock. ValuEngine cut Las Vegas Sands from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Zacks Investment Research cut Las Vegas Sands from a “hold” rating to a “sell” rating in a report on Friday, September 28th. Morgan Stanley restated a “buy” rating on shares of Las Vegas Sands in a report on Monday, December 3rd. Finally, Goldman Sachs Group cut Las Vegas Sands from a “conviction-buy” rating to a “buy” rating in a report on Friday, October 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. Las Vegas Sands currently has a consensus rating of “Hold” and a consensus target price of $74.03.
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Las Vegas Sands Profile
Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the United States. It owns and operates The Venetian Macao Resort Hotel, the Sands Cotai Central, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, Cotai Strip, and the Sands Macao in Macao, the People's Republic of China; and iconic Marina Bay Sands in Singapore.
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