Las Vegas Sands Corp. (NYSE:LVS) Shares Acquired by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. significantly increased its stake in Las Vegas Sands Corp. by 797.5%, acquiring a total of 13,400 shares valued at approximately $518,000 by the end of the reporting period.
• Las Vegas Sands reported $0.79 earnings per share for the last quarter, exceeding the expected $0.53, and had a revenue of $3.18 billion, marking a 15% year-over-year increase.
• The company declared a $2.00 billion share repurchase program and announced a quarterly dividend of $0.25 per share, reflecting the board's confidence in the stock's value.

Federated Hermes Inc. boosted its holdings in shares of Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 797.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,400 shares of the casino operator's stock after buying an additional 11,907 shares during the quarter. Federated Hermes Inc.'s holdings in Las Vegas Sands were worth $518,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of LVS. Optiver Holding B.V. acquired a new stake in Las Vegas Sands in the fourth quarter valued at approximately $32,000. Center for Financial Planning Inc. purchased a new stake in Las Vegas Sands in the first quarter valued at about $42,000. Farther Finance Advisors LLC grew its stake in shares of Las Vegas Sands by 133.1% during the first quarter. Farther Finance Advisors LLC now owns 1,499 shares of the casino operator's stock worth $59,000 after acquiring an additional 856 shares during the last quarter. GeoWealth Management LLC increased its holdings in shares of Las Vegas Sands by 104.7% during the fourth 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 in the last quarter. Finally, Neo Ivy Capital Management purchased a new position in shares of Las Vegas Sands in the 1st quarter valued at approximately $127,000. 39.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on LVS shares. Morgan Stanley raised their price target on shares of Las Vegas Sands from $47.00 to $50.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Hsbc Global Res upgraded Las Vegas Sands to a "strong-buy" rating in a research note on Thursday, April 24th. Citigroup restated a "buy" rating on shares of Las Vegas Sands in a research note on Wednesday, July 9th. Susquehanna reduced their target price on Las Vegas Sands from $59.00 to $58.00 and set a "positive" rating for the company in a research note on Monday, July 21st. Finally, UBS Group raised their target price on Las Vegas Sands from $48.00 to $55.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $58.33.

Las Vegas Sands Price Performance

Shares of NYSE LVS traded up $0.39 during trading on Monday, hitting $53.02. The company had a trading volume of 3,687,457 shares, compared to its average volume of 5,727,408. The firm has a market capitalization of $36.39 billion, a price-to-earnings ratio of 26.78, a price-to-earnings-growth ratio of 1.99 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. The stock has a fifty day simple moving average of $46.83 and a two-hundred day simple moving average of $42.58. The company has a quick ratio of 1.21, a current ratio of 1.22 and a debt-to-equity ratio of 6.53.

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

Las Vegas Sands declared that its board has initiated a stock buyback program on Wednesday, April 23rd that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the casino operator to reacquire up to 8.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its shares are undervalued.

Las Vegas Sands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 13th. Shareholders of record on Tuesday, August 5th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Tuesday, August 5th. Las Vegas Sands's payout ratio is presently 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.