Renaissance Capital LLC Has $1.19 Million Position in Venture Global, Inc. $VG

Key Points

• Renaissance Capital LLC reduced its stake in Venture Global, Inc. by 45.2%, now holding 76,498 shares worth approximately $1.19 million, representing 0.8% of its investment portfolio.
• Major institutional investors have entered new positions in Venture Global, with several acquiring stakes ranging from $28,000 to $103,000 in the recent quarters.
• Analyst ratings for Venture Global have been positive, with Bank of America and UBS both upgrading their ratings and price targets, resulting in an average rating of "Moderate Buy" and a consensus price target of $17.00.

Renaissance Capital LLC reduced its holdings in shares of Venture Global, Inc. (NYSE:VG - Free Report) by 45.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 76,498 shares of the company's stock after selling 63,197 shares during the period. Venture Global comprises about 0.8% of Renaissance Capital LLC's investment portfolio, making the stock its 24th biggest position. Renaissance Capital LLC's holdings in Venture Global were worth $1,192,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc acquired a new position in Venture Global in the second quarter valued at about $28,000. Center for Financial Planning Inc. acquired a new position in Venture Global in the first quarter valued at about $37,000. ORG Wealth Partners LLC acquired a new position in Venture Global in the first quarter valued at about $60,000. Federated Hermes Inc. acquired a new position in Venture Global in the first quarter valued at about $74,000. Finally, Adalta Capital Management LLC acquired a new position in Venture Global in the first quarter valued at about $103,000.

Wall Street Analyst Weigh In

VG has been the topic of a number of recent analyst reports. Bank of America boosted their price target on shares of Venture Global from $12.00 to $18.50 and gave the company a "buy" rating in a research report on Wednesday, June 25th. UBS Group upgraded shares of Venture Global from a "neutral" rating to a "buy" rating and set a $18.00 price target on the stock in a research report on Monday, August 25th. Wells Fargo & Company boosted their price target on shares of Venture Global from $12.00 to $14.00 and gave the company an "equal weight" rating in a research report on Thursday, August 14th. Deutsche Bank Aktiengesellschaft raised shares of Venture Global from a "hold" rating to a "buy" rating and set a $17.00 target price for the company in a research note on Thursday, August 28th. Finally, Johnson Rice began coverage on shares of Venture Global in a research note on Tuesday, June 17th. They set a "buy" rating and a $20.00 price target for the company. Nine equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $17.00.

Insider Buying and Selling at Venture Global

In other news, insider Thomas Earl sold 840,076 shares of the company's stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 1,500,000 shares of company stock valued at $20,561,011 in the last ninety days. 86.73% of the stock is owned by corporate insiders.

Venture Global Stock Performance

Shares of NYSE:VG opened at $14.19 on Tuesday. Venture Global, Inc. has a 52 week low of $6.75 and a 52 week high of $25.50. The company has a quick ratio of 1.33, a current ratio of 1.39 and a debt-to-equity ratio of 3.38. The company has a 50 day moving average price of $13.72 and a two-hundred day moving average price of $12.74.

Venture Global Increases Dividend

The company also recently announced a half year 25 dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th will be paid a $0.017 dividend. The ex-dividend date of this dividend is Friday, September 19th. This is a boost from Venture Global's previous half year 25 dividend of $0.02. This represents a yield of 50.0%.

Venture Global 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.

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