B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund decreased its holdings in shares of Las Vegas Sands Corp. (NYSE:LVS) by 55.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 7,613 shares of the casino operator’s stock after selling 9,569 shares during the quarter. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings in Las Vegas Sands were worth $581,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. Perpetual Ltd boosted its stake in shares of Las Vegas Sands by 144.1% during the second quarter. Perpetual Ltd now owns 8,300 shares of the casino operator’s stock worth $635,000 after buying an additional 4,900 shares during the period. Handelsbanken Fonder AB boosted its stake in shares of Las Vegas Sands by 51.7% during the second quarter. Handelsbanken Fonder AB now owns 88,000 shares of the casino operator’s stock worth $6,720,000 after buying an additional 30,000 shares during the period. Signet Financial Management LLC acquired a new stake in shares of Las Vegas Sands during the second quarter worth about $897,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Las Vegas Sands by 3.5% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 109,923 shares of the casino operator’s stock worth $8,394,000 after buying an additional 3,674 shares during the period. Finally, Standard Life Aberdeen plc boosted its stake in shares of Las Vegas Sands by 118.3% during the second quarter. Standard Life Aberdeen plc now owns 75,618 shares of the casino operator’s stock worth $5,775,000 after buying an additional 40,979 shares during the period. Institutional investors and hedge funds own 38.53% of the company’s stock.
In other Las Vegas Sands news, EVP Lawrence A. Jacobs sold 66,667 shares of the stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $60.95, for a total value of $4,063,353.65. Following the completion of the transaction, the executive vice president now directly owns 66,667 shares of the company’s stock, valued at $4,063,353.65. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Robert G. Goldstein bought 10,000 shares of the company’s stock in a transaction on Tuesday, July 31st. The stock was bought at an average cost of $71.13 per share, with a total value of $711,300.00. Following the completion of the acquisition, the chief operating officer now owns 10,000 shares of the company’s stock, valued at approximately $711,300. The disclosure for this purchase can be found here. Company insiders own 10.20% of the company’s stock.
NYSE LVS opened at $61.41 on Friday. The stock has a market cap of $48.26 billion, a P/E ratio of 20.20 and a beta of 1.61. Las Vegas Sands Corp. has a 52-week low of $59.11 and a 52-week high of $81.45. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.70 and a quick ratio of 1.68.
Las Vegas Sands (NYSE:LVS) last posted its quarterly earnings results on Wednesday, July 25th. The casino operator reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.06). The firm had revenue of $3.30 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Las Vegas Sands had a return on equity of 35.22% and a net margin of 28.06%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.73 earnings per share. sell-side analysts predict that Las Vegas Sands Corp. will post 3.52 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 27th. Shareholders of record on Wednesday, September 19th will be issued a $0.75 dividend. The ex-dividend date is Tuesday, September 18th. This represents a $3.00 dividend on an annualized basis and a yield of 4.89%. Las Vegas Sands’s dividend payout ratio (DPR) is presently 98.68%.
LVS has been the subject of several recent research reports. Credit Suisse Group initiated coverage on shares of Las Vegas Sands in a research note on Tuesday, August 14th. They set a “neutral” rating and a $72.00 target price for the company. Nomura cut their price target on shares of Las Vegas Sands from $76.00 to $72.00 and set a “neutral” rating for the company in a report on Monday, July 9th. Bank of America cut shares of Las Vegas Sands from a “buy” rating to a “neutral” rating and cut their price target for the stock from $85.00 to $80.00 in a report on Monday, July 2nd. Morgan Stanley increased their price target on shares of Las Vegas Sands from $85.00 to $86.00 and gave the stock an “overweight” rating in a report on Tuesday, June 26th. Finally, ValuEngine cut shares of Las Vegas Sands from a “hold” rating to a “sell” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $77.00.
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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