Nuveen LLC Makes New Investment in Las Vegas Sands Corp. (NYSE:LVS)

Key Points

• Nuveen LLC has acquired approximately 4.76 million shares of Las Vegas Sands Corp., totaling around $183.8 million, representing a 0.67% stake in the company as of the latest reporting period.
• The company's stock received recent upgrades from analysts, with Morgan Stanley raising the price target from $47 to $50 and multiple firms giving a "buy" or "strong-buy" rating, reflecting positive market sentiment.
• Las Vegas Sands announced a quarterly dividend of $0.25 per share, signaling a commitment to returning value to shareholders, with a current payout ratio of 50.51%.

Nuveen LLC acquired a new position in shares of Las Vegas Sands Corp. (NYSE:LVS - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,758,898 shares of the casino operator's stock, valued at approximately $183,836,000. Nuveen LLC owned 0.67% of Las Vegas Sands at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in LVS. Optiver Holding B.V. bought a new position in Las Vegas Sands during the 4th quarter worth $32,000. Center for Financial Planning Inc. bought a new position in Las Vegas Sands during the 1st quarter worth $42,000. Farther Finance Advisors LLC increased its stake in Las Vegas Sands by 133.1% during the 1st 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 period. GeoWealth Management LLC increased 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 purchasing an additional 908 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new position in shares of Las Vegas Sands in the 1st quarter valued at $127,000. Institutional investors own 39.16% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Hsbc Global Res upgraded Las Vegas Sands to a "strong-buy" rating in a research note on Thursday, April 24th. Morgan Stanley lifted their price target on Las Vegas Sands from $47.00 to $50.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Wall Street Zen raised Las Vegas Sands from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Barclays raised their price objective on Las Vegas Sands from $57.00 to $58.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, UBS Group raised their price objective on Las Vegas Sands from $48.00 to $55.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $58.33.

Las Vegas Sands Stock Performance

LVS stock opened at $53.02 on Tuesday. The stock has a 50-day moving average price of $47.07 and a 200-day moving average price of $42.64. Las Vegas Sands Corp. has a 1-year low of $30.18 and a 1-year high of $56.60. 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 market cap of $36.39 billion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 1.99 and a beta of 1.08.

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

Las Vegas Sands announced that its Board of Directors has approved a share repurchase plan on Wednesday, April 23rd that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the casino operator to repurchase up to 8.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Las Vegas Sands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 13th. Investors of record on Tuesday, August 5th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, August 5th. Las Vegas Sands's payout ratio is presently 50.51%.

About Las Vegas Sands

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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