Truist Financial Corp Trims Holdings in Las Vegas Sands Corp. (NYSE:LVS)

Truist Financial Corp decreased its holdings in Las Vegas Sands Corp. (NYSE:LVS) by 11.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,473 shares of the casino operator’s stock after selling 1,220 shares during the quarter. Truist Financial Corp’s holdings in Las Vegas Sands were worth $487,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Janus Henderson Group PLC raised its position in Las Vegas Sands by 159.6% in the 3rd quarter. Janus Henderson Group PLC now owns 9,130,486 shares of the casino operator’s stock valued at $459,630,000 after purchasing an additional 5,612,975 shares during the last quarter. ARGA Investment Management LP increased its stake in Las Vegas Sands by 32.0% in the 4th quarter. ARGA Investment Management LP now owns 6,501,382 shares of the casino operator’s stock valued at $333,911,000 after buying an additional 1,577,042 shares during the period. The Manufacturers Life Insurance Company increased its stake in Las Vegas Sands by 1.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,627,422 shares of the casino operator’s stock valued at $283,284,000 after buying an additional 77,807 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Las Vegas Sands by 2.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,659,427 shares of the casino operator’s stock valued at $133,876,000 after buying an additional 57,739 shares during the period. Finally, Bamco Inc. NY increased its stake in Las Vegas Sands by 29.2% in the 3rd quarter. Bamco Inc. NY now owns 1,581,075 shares of the casino operator’s stock valued at $79,591,000 after buying an additional 357,234 shares during the period. Hedge funds and other institutional investors own 39.16% of the company’s stock.

Las Vegas Sands Price Performance

Las Vegas Sands stock opened at $45.41 on Tuesday. Las Vegas Sands Corp. has a 52 week low of $36.62 and a 52 week high of $56.60. The company has a quick ratio of 0.73, a current ratio of 0.74 and a debt-to-equity ratio of 3.35. The firm’s 50-day simple moving average is $45.86 and its 200 day simple moving average is $47.40. The firm has a market capitalization of $32.51 billion, a PE ratio of 23.05, a P/E/G ratio of 1.41 and a beta of 1.08.

Las Vegas Sands (NYSE:LVS) last released its quarterly earnings data on Wednesday, January 29th. The casino operator reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). Las Vegas Sands had a return on equity of 45.82% and a net margin of 12.80%. On average, equities research analysts predict that Las Vegas Sands Corp. will post 2.6 EPS for the current fiscal year.

Las Vegas Sands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Monday, February 10th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This is a positive change from Las Vegas Sands’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 2.20%. Las Vegas Sands’s payout ratio is currently 50.76%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Macquarie boosted their price objective on shares of Las Vegas Sands from $57.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. dropped their price objective on shares of Las Vegas Sands from $62.00 to $61.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Jefferies Financial Group raised shares of Las Vegas Sands from a “hold” rating to a “buy” rating and boosted their price objective for the company from $60.00 to $69.00 in a research note on Friday, January 3rd. UBS Group boosted their price objective on shares of Las Vegas Sands from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company lowered their price target on shares of Las Vegas Sands from $60.00 to $59.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Las Vegas Sands presently has an average rating of “Moderate Buy” and an average price target of $59.42.

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.