Public Employees Retirement System of Ohio Invests $3.63 Million in Las Vegas Sands Corp. $LVS

Public Employees Retirement System of Ohio acquired a new stake in shares of Las Vegas Sands Corp. (NYSE:LVS) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 78,637 shares of the casino operator’s stock, valued at approximately $3,632,000.

Other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC lifted its position in Las Vegas Sands by 222.7% during the 4th quarter. AQR Capital Management LLC now owns 9,098,518 shares of the casino operator’s stock worth $592,223,000 after acquiring an additional 6,279,390 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Las Vegas Sands by 4.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 8,582,962 shares of the casino operator’s stock valued at $462,450,000 after purchasing an additional 396,705 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Las Vegas Sands by 18.7% in the fourth quarter. Bank of New York Mellon Corp now owns 7,893,031 shares of the casino operator’s stock worth $513,757,000 after purchasing an additional 1,246,206 shares during the last quarter. Norges Bank acquired a new stake in shares of Las Vegas Sands during the fourth quarter worth about $364,892,000. Finally, Bamco Inc. NY acquired a new stake in shares of Las Vegas Sands during the second quarter worth about $174,796,000. 39.16% of the stock is currently owned by institutional investors and hedge funds.

Las Vegas Sands Stock Performance

Las Vegas Sands stock opened at $44.54 on Friday. The firm has a market cap of $28.85 billion, a PE ratio of 17.33, a P/E/G ratio of 1.10 and a beta of 0.83. Las Vegas Sands Corp. has a 12 month low of $43.36 and a 12 month high of $70.45. The stock’s 50 day simple moving average is $46.15 and its two-hundred day simple moving average is $50.61. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 15.27.

Las Vegas Sands (NYSE:LVS) last posted its earnings results on Wednesday, July 22nd. The casino operator reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.17). Las Vegas Sands had a net margin of 12.59% and a return on equity of 133.90%. The firm had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same period last year, the firm earned $0.66 earnings per share. Las Vegas Sands’s revenue for the quarter was down .7% compared to the same quarter last year. Analysts anticipate that Las Vegas Sands Corp. will post 3.09 earnings per share for the current year.

Las Vegas Sands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Tuesday, August 4th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.7%. The ex-dividend date was Tuesday, August 4th. Las Vegas Sands’s dividend payout ratio (DPR) is currently 46.69%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LVS. Barclays cut their price target on shares of Las Vegas Sands from $63.00 to $59.00 and set an “overweight” rating on the stock in a report on Thursday, July 23rd. Argus downgraded shares of Las Vegas Sands from a “buy” rating to a “hold” rating in a report on Thursday, July 30th. Bank of America cut their price objective on shares of Las Vegas Sands from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Monday, July 20th. Susquehanna reduced their target price on shares of Las Vegas Sands from $64.00 to $63.00 and set a “positive” rating for the company in a report on Wednesday, July 22nd. Finally, Mizuho lowered their price target on shares of Las Vegas Sands from $67.00 to $61.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.88.

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.