TCTC Holdings LLC Acquires 16,853 Shares of Las Vegas Sands Corp. (NYSE:LVS)

Key Points

• TCTC Holdings LLC increased its stake in Las Vegas Sands Corp. by acquiring 16,853 shares, raising its total holdings to approximately 458,463 shares valued at $17.71 million.
• Las Vegas Sands recently reported earnings per share (EPS) of $0.79 for the last quarter, surpassing analysts' expectations of $0.53.
• The company declared a quarterly dividend of $0.25 per share, resulting in an annualized yield of 1.91%.

TCTC Holdings LLC lifted its holdings in shares of Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 3.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 458,463 shares of the casino operator's stock after acquiring an additional 16,853 shares during the period. TCTC Holdings LLC owned approximately 0.06% of Las Vegas Sands worth $17,710,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LVS. American Century Companies Inc. lifted its holdings in shares of Las Vegas Sands by 36.5% during the 4th quarter. American Century Companies Inc. now owns 335,010 shares of the casino operator's stock worth $17,206,000 after acquiring an additional 89,508 shares during the period. LPL Financial LLC lifted its holdings in shares of Las Vegas Sands by 28.8% during the 4th quarter. LPL Financial LLC now owns 223,371 shares of the casino operator's stock worth $11,472,000 after acquiring an additional 49,982 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Las Vegas Sands by 11.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 575,663 shares of the casino operator's stock valued at $29,025,000 after purchasing an additional 59,675 shares during the last quarter. NEOS Investment Management LLC lifted its holdings in Las Vegas Sands by 27.5% during the 4th quarter. NEOS Investment Management LLC now owns 17,302 shares of the casino operator's stock valued at $889,000 after purchasing an additional 3,728 shares during the last quarter. Finally, Norges Bank bought a new position in Las Vegas Sands during the 4th quarter valued at about $216,571,000. 39.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on LVS shares. Hsbc Global Res raised shares of Las Vegas Sands to a "strong-buy" rating in a report on Thursday, April 24th. Stifel Nicolaus set a $57.00 price target on shares of Las Vegas Sands and gave the company a "buy" rating in a report on Thursday, April 24th. Argus raised shares of Las Vegas Sands from a "hold" rating to a "buy" rating and set a $60.00 price target for the company in a report on Monday. Macquarie lifted their price target on shares of Las Vegas Sands from $52.00 to $58.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Finally, Citigroup reissued a "buy" rating on shares of Las Vegas Sands in a report on Wednesday, July 9th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Las Vegas Sands has a consensus rating of "Moderate Buy" and an average target price of $57.67.

Las Vegas Sands Price Performance

Shares of LVS stock opened at $52.46 on Tuesday. Las Vegas Sands Corp. has a 52-week low of $30.18 and a 52-week high of $56.60. The stock has a market cap of $37.07 billion, a PE ratio of 26.49, a PEG ratio of 2.03 and a beta of 1.03. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.59 and a current ratio of 0.59. The firm's 50 day moving average price is $44.68 and its two-hundred day moving average price is $42.08.

Las Vegas Sands (NYSE:LVS - Get Free Report) last announced its quarterly earnings data 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 51.16%. The firm had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $2.83 billion. During the same period last year, the firm earned $0.55 earnings per share. The business's revenue for the quarter was up 15.0% on a year-over-year basis. As a group, analysts forecast that Las Vegas Sands Corp. will post 2.6 EPS for the current year.

Las Vegas Sands declared that its Board of Directors has initiated a share repurchase plan on Wednesday, April 23rd that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the casino operator to purchase up to 8.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Las Vegas Sands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 13th. Shareholders of record on Tuesday, August 5th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.91%. 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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