Select Equity Group L.P. Raises Holdings in Verra Mobility Co. (NASDAQ:VRRM)

Select Equity Group L.P. lifted its holdings in Verra Mobility Co. (NASDAQ:VRRM) by 3.3% in the 2nd quarter, Holdings Channel reports. The firm owned 89,749 shares of the company’s stock after acquiring an additional 2,890 shares during the period. Select Equity Group L.P.’s holdings in Verra Mobility were worth $2,441,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VRRM. Allspring Global Investments Holdings LLC bought a new position in Verra Mobility in the first quarter worth approximately $26,000. Quest Partners LLC increased its position in Verra Mobility by 1,732.7% in the second quarter. Quest Partners LLC now owns 1,008 shares of the company’s stock worth $27,000 after buying an additional 953 shares in the last quarter. Picton Mahoney Asset Management purchased a new position in shares of Verra Mobility during the 1st quarter valued at about $74,000. Montag A & Associates Inc. grew its stake in shares of Verra Mobility by 17.1% during the 1st quarter. Montag A & Associates Inc. now owns 3,045 shares of the company’s stock valued at $76,000 after acquiring an additional 445 shares during the period. Finally, Fifth Third Bancorp raised its stake in Verra Mobility by 713.5% during the 2nd quarter. Fifth Third Bancorp now owns 3,124 shares of the company’s stock worth $85,000 after acquiring an additional 2,740 shares during the period.

Verra Mobility Price Performance

Shares of NASDAQ:VRRM opened at $27.81 on Friday. The company has a debt-to-equity ratio of 2.36, a quick ratio of 2.47 and a current ratio of 2.57. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of 55.62, a P/E/G ratio of 1.83 and a beta of 1.27. The firm has a fifty day moving average price of $27.93 and a 200 day moving average price of $26.69. Verra Mobility Co. has a fifty-two week low of $18.61 and a fifty-two week high of $31.03.

Verra Mobility (NASDAQ:VRRM) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.30 by $0.01. Verra Mobility had a net margin of 11.34% and a return on equity of 39.89%. The business had revenue of $222.43 million during the quarter, compared to the consensus estimate of $220.32 million. During the same quarter in the prior year, the firm earned $0.27 EPS. The business’s revenue was up 8.8% on a year-over-year basis. As a group, sell-side analysts expect that Verra Mobility Co. will post 1.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on VRRM shares. Morgan Stanley increased their price objective on shares of Verra Mobility from $22.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft upped their price objective on Verra Mobility from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, August 9th.

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.