Principal Financial Group Inc. lifted its position in Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 33.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 548,072 shares of the casino operator's stock after acquiring an additional 136,859 shares during the quarter. Principal Financial Group Inc. owned 0.08% of Las Vegas Sands worth $27,590,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the company. Janus Henderson Group PLC lifted its stake in Las Vegas Sands by 159.6% in the third quarter. Janus Henderson Group PLC now owns 9,130,486 shares of the casino operator's stock worth $459,630,000 after purchasing an additional 5,612,975 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Las Vegas Sands by 987.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,549,615 shares of the casino operator's stock worth $245,570,000 after acquiring an additional 5,039,072 shares during the last quarter. Charles Lim Capital Ltd boosted its holdings in Las Vegas Sands by 178.3% during the 2nd quarter. Charles Lim Capital Ltd now owns 1,600,000 shares of the casino operator's stock valued at $70,800,000 after acquiring an additional 1,025,000 shares during the period. ARGA Investment Management LP grew its position in Las Vegas Sands by 24.8% in the 3rd quarter. ARGA Investment Management LP now owns 4,924,340 shares of the casino operator's stock valued at $247,891,000 after acquiring an additional 977,636 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Las Vegas Sands by 44.1% in the second quarter. Renaissance Technologies LLC now owns 2,949,670 shares of the casino operator's stock worth $130,523,000 after purchasing an additional 903,400 shares during the period. 39.16% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Las Vegas Sands news, CEO Robert G. Goldstein sold 60,187 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $53.02, for a total transaction of $3,191,114.74. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Robert G. Goldstein sold 24,324 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $52.00, for a total value of $1,264,848.00. Following the completion of the sale, the chief executive officer now owns 60,187 shares of the company's stock, valued at $3,129,724. This trade represents a 28.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 203,732 shares of company stock worth $10,861,707 in the last 90 days. Insiders own 1.20% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on LVS. JPMorgan Chase & Co. boosted their target price on shares of Las Vegas Sands from $60.00 to $62.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Wells Fargo & Company boosted their price objective on shares of Las Vegas Sands from $53.00 to $60.00 and gave the company an "overweight" rating in a research report on Tuesday, October 1st. Susquehanna raised their target price on shares of Las Vegas Sands from $51.00 to $59.00 and gave the stock a "positive" rating in a research report on Wednesday, October 16th. Stifel Nicolaus boosted their price target on Las Vegas Sands from $55.00 to $64.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Finally, Barclays raised their price objective on Las Vegas Sands from $58.00 to $61.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, Las Vegas Sands presently has a consensus rating of "Moderate Buy" and a consensus target price of $58.42.
View Our Latest Stock Report on Las Vegas Sands
Las Vegas Sands Stock Up 0.4 %
LVS traded up $0.23 during trading on Wednesday, hitting $51.89. The stock had a trading volume of 966,898 shares, compared to its average volume of 5,670,380. The stock has a 50 day simple moving average of $51.83 and a two-hundred day simple moving average of $46.02. The company has a debt-to-equity ratio of 3.09, a quick ratio of 0.89 and a current ratio of 0.90. Las Vegas Sands Corp. has a twelve month low of $36.62 and a twelve month high of $56.60. The company has a market capitalization of $37.62 billion, a PE ratio of 25.69, a PEG ratio of 1.43 and a beta of 1.10.
Las Vegas Sands (NYSE:LVS - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The casino operator reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.09). Las Vegas Sands had a return on equity of 44.26% and a net margin of 13.29%. The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same period in the previous year, the business earned $0.55 EPS. The firm's revenue for the quarter was down 4.0% compared to the same quarter last year. On average, research analysts predict that Las Vegas Sands Corp. will post 2.33 earnings per share for the current year.
Las Vegas Sands Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Tuesday, November 5th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.54%. The ex-dividend date was Tuesday, November 5th. Las Vegas Sands's payout ratio is 39.60%.
Las Vegas Sands Profile
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Free Report)
Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Macao and Singapore. It owns and operates The Venetian Macao Resort Hotel, the Londoner Macao, 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 Marina Bay Sands in Singapore.
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