New York State Teachers Retirement System Has $1.05 Million Stock Holdings in Verra Mobility Co. (NASDAQ:VRRM)

Posted by Defense World Staff on Oct 25th, 2023

New York State Teachers Retirement System decreased its position in shares of Verra Mobility Co. (NASDAQ:VRRM – Free Report) by 1.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 53,383 shares of the company’s stock after selling 1,000 shares during the quarter. New York State Teachers Retirement System’s holdings in Verra Mobility were worth $1,053,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of VRRM. Bank of New York Mellon Corp lifted its holdings in Verra Mobility by 3.9% during the 1st quarter. Bank of New York Mellon Corp now owns 643,613 shares of the company’s stock worth $10,478,000 after buying an additional 23,894 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Verra Mobility in the 1st quarter valued at $205,000. MetLife Investment Management LLC lifted its stake in shares of Verra Mobility by 63.0% in the 1st quarter. MetLife Investment Management LLC now owns 80,812 shares of the company’s stock valued at $1,316,000 after purchasing an additional 31,231 shares during the period. BlackRock Inc. lifted its stake in shares of Verra Mobility by 3.5% in the 1st quarter. BlackRock Inc. now owns 9,741,503 shares of the company’s stock valued at $158,592,000 after purchasing an additional 329,023 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Verra Mobility by 9.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,238,882 shares of the company’s stock valued at $20,167,000 after purchasing an additional 108,092 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on VRRM shares. Deutsche Bank Aktiengesellschaft raised Verra Mobility from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. Morgan Stanley increased their price target on Verra Mobility from $17.00 to $18.00 and gave the company an “equal weight” rating in a research note on Thursday, August 10th. Robert W. Baird upped their price objective on shares of Verra Mobility from $18.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, July 20th. Finally, UBS Group started coverage on shares of Verra Mobility in a research report on Friday, October 20th. They issued a “buy” rating and a $25.00 price objective for the company. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Verra Mobility presently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Read Our Latest Analysis on VRRM

Verra Mobility Price Performance

VRRM opened at $20.01 on Wednesday. The company has a fifty day simple moving average of $18.87 and a 200 day simple moving average of $18.71. The stock has a market cap of $3.40 billion, a P/E ratio of 45.48, a P/E/G ratio of 1.95 and a beta of 1.20. The company has a quick ratio of 2.89, a current ratio of 3.00 and a debt-to-equity ratio of 2.43. Verra Mobility Co. has a 12 month low of $12.76 and a 12 month high of $21.54.

Verra Mobility (NASDAQ:VRRM – Get Free Report) last released its earnings results on Wednesday, August 9th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. The firm 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 expect that Verra Mobility Co. will post 1 EPS for the current year.

Insiders Place Their Bets

In other Verra Mobility news, CFO Craig C. Conti sold 37,780 shares of the stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $19.14, for a total transaction of $723,109.20. Following the completion of the transaction, the chief financial officer now owns 27,906 shares in the company, valued at approximately $534,120.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.02% of the company’s stock.

Verra Mobility Profile

(Free Report)

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.