Louisiana State Employees Retirement System increased its holdings in Verra Mobility Co. (NASDAQ:VRRM – Free Report) by 12.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 73,400 shares of the company’s stock after acquiring an additional 8,400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Verra Mobility were worth $1,447,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of VRRM. BlackRock Inc. raised its stake in shares of Verra Mobility by 125.7% during the 1st quarter. BlackRock Inc. now owns 21,543,408 shares of the company’s stock worth $364,514,000 after acquiring an additional 11,996,697 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Verra Mobility by 5.7% during the third quarter. Vanguard Group Inc. now owns 14,679,035 shares of the company’s stock valued at $225,617,000 after acquiring an additional 796,360 shares in the last quarter. Darlington Partners Capital Management LP boosted its stake in Verra Mobility by 2.4% in the 1st quarter. Darlington Partners Capital Management LP now owns 9,769,027 shares of the company’s stock worth $165,292,000 after purchasing an additional 231,481 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Verra Mobility by 17.5% during the first quarter. Wellington Management Group LLP now owns 8,602,029 shares of the company’s stock worth $145,546,000 after buying an additional 1,279,583 shares during the period. Finally, Mackenzie Financial Corp increased its position in shares of Verra Mobility by 1.3% in the 4th quarter. Mackenzie Financial Corp now owns 6,459,559 shares of the company’s stock valued at $89,336,000 after acquiring an additional 84,496 shares during the period.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on VRRM. Morgan Stanley raised their target price on shares of Verra Mobility from $17.00 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, August 10th. Robert W. Baird lifted their price target on shares of Verra Mobility from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, July 20th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Verra Mobility from a “hold” rating to a “buy” rating in a research report on Monday, July 31st.
Verra Mobility Stock Performance
Shares of Verra Mobility stock opened at $18.71 on Wednesday. The company has a debt-to-equity ratio of 2.43, a quick ratio of 2.89 and a current ratio of 3.00. Verra Mobility Co. has a one year low of $12.76 and a one year high of $21.54. The business’s 50 day moving average price is $19.05 and its 200 day moving average price is $18.41. The company has a market cap of $3.17 billion, a price-to-earnings ratio of 42.52, a PEG ratio of 1.85 and a beta of 1.20.
Verra Mobility (NASDAQ:VRRM – Get Free Report) last released its quarterly earnings results on Wednesday, August 9th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. The business had revenue of $204.46 million during the quarter, compared to analysts’ expectations of $199.08 million. Verra Mobility had a return on equity of 54.50% and a net margin of 9.80%. On average, research analysts predict that Verra Mobility Co. will post 0.99 EPS for the current year.
Insiders Place Their Bets
In other news, CFO Craig C. Conti sold 37,780 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $19.14, for a total value of $723,109.20. Following the completion of the transaction, the chief financial officer now owns 27,906 shares of the company’s stock, valued at $534,120.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.02% of the stock is owned by insiders.
Verra Mobility Profile
Verra Mobility Corporation provides smart mobility technology solutions and services in the United States, Australia, Canada, and Europe. It operates through three segments: Commercial Services, Government Solutions, and Parking Solutions. The Commercial Services segment provides automated toll and violations management, and title and registration services to rental car companies, fleet management companies, and other large fleet owners.
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