Minneapolis Portfolio Management Group LLC lessened its holdings in Las Vegas Sands Corp. (NYSE:LVS) by 7.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 363,558 shares of the casino operator’s stock after selling 28,036 shares during the period. Las Vegas Sands makes up 3.1% of Minneapolis Portfolio Management Group LLC’s portfolio, making the stock its 21st biggest position. Minneapolis Portfolio Management Group LLC’s holdings in Las Vegas Sands were worth $22,163,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Legal & General Group Plc raised its holdings in shares of Las Vegas Sands by 3.1% in the 3rd quarter. Legal & General Group Plc now owns 1,571,883 shares of the casino operator’s stock valued at $93,285,000 after buying an additional 46,575 shares during the period. Lavaca Capital LLC purchased a new stake in shares of Las Vegas Sands in the 4th quarter valued at $91,000. Dakota Wealth Management raised its holdings in shares of Las Vegas Sands by 3.7% in the 4th quarter. Dakota Wealth Management now owns 8,403 shares of the casino operator’s stock valued at $499,000 after buying an additional 300 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Las Vegas Sands in the 4th quarter valued at $5,029,000. Finally, Bartlett & Co. LLC purchased a new stake in shares of Las Vegas Sands in the 4th quarter valued at $26,000. 36.76% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on the company. Zacks Investment Research downgraded Las Vegas Sands from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. Deutsche Bank upped their price target on Las Vegas Sands from $60.00 to $69.00 and gave the stock a “hold” rating in a report on Thursday, April 18th. They noted that the move was a valuation call. JPMorgan Chase & Co. upped their price target on Las Vegas Sands from $62.00 to $71.00 and gave the stock a “neutral” rating in a report on Thursday, April 18th. Jefferies Financial Group upped their price target on Las Vegas Sands from $57.00 to $69.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Finally, Bank of America reiterated a “neutral” rating and issued a $70.00 price objective (up previously from $64.00) on shares of Las Vegas Sands in a report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $68.60.
Shares of NYSE LVS opened at $59.40 on Tuesday. The stock has a market capitalization of $45.87 billion, a P/E ratio of 17.89 and a beta of 1.43. The company has a quick ratio of 1.72, a current ratio of 1.73 and a debt-to-equity ratio of 1.85. Las Vegas Sands Corp. has a 52-week low of $47.39 and a 52-week high of $81.45.
Las Vegas Sands (NYSE:LVS) last announced its earnings results on Wednesday, April 17th. The casino operator reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.48 billion. Las Vegas Sands had a return on equity of 34.52% and a net margin of 11.15%. The business’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.04 EPS. As a group, research analysts forecast that Las Vegas Sands Corp. will post 3.35 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Wednesday, June 19th will be given a $0.77 dividend. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.19%. Las Vegas Sands’s dividend payout ratio (DPR) is presently 92.77%.
Las Vegas Sands Company 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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