PNC Financial Services Group Inc. Sells 11,072 Shares of Venture Global, Inc. $VG

PNC Financial Services Group Inc. cut its holdings in Venture Global, Inc. (NYSE:VG) by 77.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,300 shares of the company’s stock after selling 11,072 shares during the period. PNC Financial Services Group Inc.’s holdings in Venture Global were worth $51,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. bought a new stake in Venture Global in the 1st quarter valued at about $125,788,000. Deutsche Bank AG acquired a new stake in shares of Venture Global in the first quarter valued at approximately $37,798,000. Millennium Management LLC bought a new stake in shares of Venture Global in the first quarter valued at approximately $32,099,000. Tortoise Capital Advisors L.L.C. bought a new stake in shares of Venture Global in the first quarter valued at approximately $28,673,000. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in Venture Global during the first quarter worth approximately $20,085,000.

Insider Buying and Selling at Venture Global

In other news, VP Fory Musser sold 776,298 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $8.06, for a total value of $6,256,961.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas Earl sold 840,076 shares of the firm’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $13.74, for a total value of $11,542,644.24. The SEC filing for this sale provides additional information. Insiders have sold 3,500,000 shares of company stock valued at $36,575,740 over the last quarter. Company insiders own 86.73% of the company’s stock.

Venture Global Stock Performance

Venture Global stock opened at $6.87 on Tuesday. Venture Global, Inc. has a 12-month low of $6.72 and a 12-month high of $25.50. The company has a quick ratio of 0.77, a current ratio of 0.83 and a debt-to-equity ratio of 3.46. The business’s 50-day moving average price is $9.78 and its two-hundred day moving average price is $12.73. The stock has a market cap of $16.81 billion and a PE ratio of 8.80.

Venture Global (NYSE:VG) last posted its earnings results on Monday, November 10th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). The company had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.23 billion. Venture Global had a return on equity of 29.55% and a net margin of 21.99%.Venture Global’s quarterly revenue was up 259.5% compared to the same quarter last year. As a group, analysts expect that Venture Global, Inc. will post 0.52 earnings per share for the current fiscal year.

Venture Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a dividend of $0.017 per share. This represents a $0.07 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, December 15th. Venture Global’s payout ratio is presently 8.97%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on VG shares. Scotiabank dropped their price objective on Venture Global from $13.00 to $12.00 and set a “sector perform” rating for the company in a report on Thursday, November 13th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $17.50 price target on shares of Venture Global in a research note on Monday, November 10th. Wells Fargo & Company reduced their price objective on shares of Venture Global from $14.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 12th. Citigroup decreased their target price on shares of Venture Global from $16.00 to $9.00 and set a “neutral” rating on the stock in a report on Monday, November 24th. Finally, Tudor Pickering raised shares of Venture Global to a “hold” rating in a report on Tuesday, September 2nd. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $15.00.

Venture Global Company Profile

Venture Global has fundamentally reshaped the development and construction of liquefied natural gas production, establishing us as a rapidly growing company delivering critical LNG to the world. Our innovative and disruptive approach, which is both scalable and repeatable, allows us to bring LNG to a global market years faster and at a lower cost.