Employees Retirement System of Texas Invests $11.11 Million in Las Vegas Sands Corp. $LVS

Employees Retirement System of Texas bought a new stake in Las Vegas Sands Corp. (NYSE:LVS) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 206,598 shares of the casino operator’s stock, valued at approximately $11,113,000.

Several other institutional investors also recently bought and sold shares of LVS. Norges Bank bought a new position in Las Vegas Sands during the 2nd quarter worth approximately $134,179,000. Vanguard Group Inc. lifted its position in Las Vegas Sands by 4.4% in the second quarter. Vanguard Group Inc. now owns 43,072,014 shares of the casino operator’s stock valued at $1,874,063,000 after purchasing an additional 1,822,806 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Las Vegas Sands by 43.8% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,454,013 shares of the casino operator’s stock valued at $293,371,000 after purchasing an additional 1,660,823 shares during the period. Schroder Investment Management Group grew its holdings in shares of Las Vegas Sands by 4,504.2% in the third quarter. Schroder Investment Management Group now owns 1,028,808 shares of the casino operator’s stock worth $55,340,000 after purchasing an additional 1,006,463 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Las Vegas Sands by 4,226.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,012,800 shares of the casino operator’s stock worth $44,067,000 after purchasing an additional 989,392 shares during the last quarter. 39.16% of the stock is currently owned by hedge funds and other institutional investors.

Las Vegas Sands Stock Down 2.2%

Shares of Las Vegas Sands stock opened at $53.57 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.13 and a debt-to-equity ratio of 7.58. Las Vegas Sands Corp. has a 12-month low of $30.18 and a 12-month high of $70.45. The company has a market cap of $35.99 billion, a P/E ratio of 22.89, a PEG ratio of 1.40 and a beta of 0.88. The company’s fifty day simple moving average is $57.82 and its two-hundred day simple moving average is $58.92.

Las Vegas Sands (NYSE:LVS) last posted its earnings results on Wednesday, January 28th. The casino operator reported $0.85 EPS for the quarter, topping the consensus estimate of $0.77 by $0.08. The firm had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Las Vegas Sands had a net margin of 12.50% and a return on equity of 91.40%. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period last year, the company posted $0.54 EPS. Research analysts anticipate that Las Vegas Sands Corp. will post 2.6 EPS for the current year.

Las Vegas Sands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 18th. Shareholders of record on Monday, February 9th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.2%. This is a boost from Las Vegas Sands’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, February 9th. Las Vegas Sands’s dividend payout ratio (DPR) is 51.28%.

Wall Street Analyst Weigh In

LVS has been the subject of a number of recent analyst reports. Zacks Research lowered shares of Las Vegas Sands from a “strong-buy” rating to a “hold” rating in a report on Monday, December 22nd. Argus cut their price target on shares of Las Vegas Sands from $80.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Macquarie Infrastructure restated an “outperform” rating and issued a $70.00 price objective on shares of Las Vegas Sands in a research report on Thursday, January 29th. Barclays set a $64.00 price objective on shares of Las Vegas Sands in a research note on Thursday, January 29th. Finally, Morgan Stanley set a $66.00 target price on shares of Las Vegas Sands in a report on Wednesday, February 11th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Las Vegas Sands has an average rating of “Moderate Buy” and an average target price of $68.55.

Insider Activity at Las Vegas Sands

In other news, CEO Robert G. Goldstein sold 1,198,650 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $66.68, for a total value of $79,925,982.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Miriam Adelson sold 77,991 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $67.56, for a total value of $5,269,071.96. Following the completion of the transaction, the insider owned 23,333,441 shares of the company’s stock, valued at approximately $1,576,407,273.96. The trade was a 0.33% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 2,062,502 shares of company stock worth $137,730,622. Insiders own 1.20% of the company’s stock.

Las Vegas Sands Company Profile

Las Vegas Sands (NYSE: LVS) is a global developer and operator of integrated resorts, focused on large-scale properties that combine casino gaming with hotels, convention and exhibition facilities, retail, dining, and entertainment. The company’s operations center on developing and managing full-service resort complexes that serve both leisure and business travelers, with emphasis on convention and trade-show business in addition to gaming revenue streams.

The company’s portfolio has included prominent properties in North America and Asia, most notably The Venetian Resort in Las Vegas and Marina Bay Sands in Singapore, along with a significant presence in Macau through multiple integrated resorts.