Las Vegas Sands Corp. (LVS) Position Increased by Nomura Asset Management Co. Ltd.
Nomura Asset Management Co. Ltd. lifted its position in Las Vegas Sands Corp. (NYSE:LVS) by 13.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 662,488 shares of the casino operator’s stock after buying an additional 78,362 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Las Vegas Sands were worth $39,306,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Edgestream Partners L.P. bought a new stake in shares of Las Vegas Sands in the 3rd quarter valued at $4,547,000. Toronto Dominion Bank increased its position in shares of Las Vegas Sands by 6.0% in the 3rd quarter. Toronto Dominion Bank now owns 62,867 shares of the casino operator’s stock valued at $3,730,000 after buying an additional 3,555 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Las Vegas Sands by 1.1% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,290,749 shares of the casino operator’s stock valued at $76,580,000 after buying an additional 14,188 shares in the last quarter. RPG Investment Advisory LLC increased its position in shares of Las Vegas Sands by 145.7% in the 3rd quarter. RPG Investment Advisory LLC now owns 89,427 shares of the casino operator’s stock valued at $5,306,000 after buying an additional 53,027 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Las Vegas Sands by 8.2% in the 3rd quarter. American Century Companies Inc. now owns 3,117,041 shares of the casino operator’s stock valued at $184,934,000 after buying an additional 237,266 shares in the last quarter. Institutional investors and hedge funds own 39.34% of the company’s stock.
In other Las Vegas Sands news, EVP Lawrence A. Jacobs sold 66,667 shares of the stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $60.95, for a total transaction of $4,063,353.65. Following the completion of the transaction, the executive vice president now owns 66,667 shares in the company, valued at approximately $4,063,353.65. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 10.20% of the stock is currently owned by corporate insiders.
Las Vegas Sands (NYSE:LVS) last released its earnings results on Wednesday, October 24th. The casino operator reported $0.77 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.04). The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.41 billion. Las Vegas Sands had a return on equity of 34.18% and a net margin of 27.71%. As a group, sell-side analysts forecast that Las Vegas Sands Corp. will post 3.4 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Tuesday, December 18th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 5.75%. The ex-dividend date of this dividend is Monday, December 17th. Las Vegas Sands’s dividend payout ratio (DPR) is presently 98.68%.
A number of research firms recently commented on LVS. Stifel Nicolaus lowered their price objective on shares of Las Vegas Sands from $88.00 to $86.00 and set a “buy” rating for the company in a research report on Thursday, July 26th. Zacks Investment Research upgraded shares of Las Vegas Sands from a “strong sell” rating to a “hold” rating in a research report on Monday, October 29th. Argus lowered their price objective on shares of Las Vegas Sands from $89.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, October 26th. Nomura lowered their price objective on shares of Las Vegas Sands from $70.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, October 25th. Finally, Morgan Stanley set a $68.00 price objective on shares of Las Vegas Sands and gave the company a “buy” rating in a research report on Thursday, October 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $73.50.
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Las Vegas Sands Profile
Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the United States. It owns and operates The Venetian Macao Resort Hotel, the Sands Cotai Central, 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 iconic Marina Bay Sands in Singapore.
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