Las Vegas Sands Corp. $LVS Stock Holdings Lowered by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Las Vegas Sands Corp. by 7.6% to own 124,840 shares, valued at approximately $4.8 million.
• Recent analyst upgrades include Bank of America raising its price target from $52.50 to $58.00, alongside several other firms adjusting their ratings, indicating a moderate buy consensus.
• Las Vegas Sands reported a quarterly EPS of $0.79, beating estimates, with revenues of $3.18 billion, up 15% year-over-year.

State of New Jersey Common Pension Fund D cut its holdings in Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 7.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,840 shares of the casino operator's stock after selling 10,314 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Las Vegas Sands were worth $4,823,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Optiver Holding B.V. acquired a new stake in shares of Las Vegas Sands in the fourth quarter valued at approximately $32,000. Center for Financial Planning Inc. acquired a new position in shares of Las Vegas Sands in the 1st quarter valued at $42,000. Farther Finance Advisors LLC raised its stake in shares of Las Vegas Sands by 133.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,499 shares of the casino operator's stock valued at $59,000 after acquiring an additional 856 shares during the period. GeoWealth Management LLC raised its stake in shares of Las Vegas Sands by 104.7% in the 4th quarter. GeoWealth Management LLC now owns 1,775 shares of the casino operator's stock valued at $91,000 after acquiring an additional 908 shares during the period. Finally, Neo Ivy Capital Management purchased a new position in shares of Las Vegas Sands in the 1st quarter valued at $127,000. 39.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LVS has been the topic of several analyst reports. Barclays lifted their price target on shares of Las Vegas Sands from $57.00 to $58.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Susquehanna dropped their price target on shares of Las Vegas Sands from $59.00 to $58.00 and set a "positive" rating on the stock in a research note on Monday, July 21st. The Goldman Sachs Group began coverage on shares of Las Vegas Sands in a research note on Monday, July 7th. They set a "neutral" rating and a $52.00 price target on the stock. UBS Group boosted their target price on shares of Las Vegas Sands from $48.00 to $55.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Finally, Wall Street Zen raised shares of Las Vegas Sands from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $58.33.

Las Vegas Sands Stock Performance

Las Vegas Sands stock traded up $1.4920 during midday trading on Friday, reaching $55.0020. 4,015,011 shares of the stock traded hands, compared to its average volume of 4,245,515. The company has a current ratio of 1.22, a quick ratio of 1.21 and a debt-to-equity ratio of 6.53. The firm has a fifty day moving average price of $49.31 and a two-hundred day moving average price of $43.23. The firm has a market cap of $37.76 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 2.03 and a beta of 1.08. Las Vegas Sands Corp. has a fifty-two week low of $30.18 and a fifty-two week high of $56.60.

Las Vegas Sands (NYSE:LVS - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The casino operator reported $0.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.26. Las Vegas Sands had a net margin of 12.16% and a return on equity of 55.37%. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $2.83 billion. During the same period in the previous year, the business posted $0.55 EPS. Las Vegas Sands's revenue was up 15.0% on a year-over-year basis. On average, equities research analysts forecast that Las Vegas Sands Corp. will post 2.6 earnings per share for the current year.

Las Vegas Sands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 13th. Shareholders of record on Tuesday, August 5th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Tuesday, August 5th. Las Vegas Sands's payout ratio is 50.51%.

Las Vegas Sands Company Profile

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.