Public Sector Pension Investment Board Buys 25,472 Shares of Verra Mobility Co. (NASDAQ:VRRM)

Public Sector Pension Investment Board boosted its position in shares of Verra Mobility Co. (NASDAQ:VRRM) by 7.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 366,368 shares of the company’s stock after purchasing an additional 25,472 shares during the period. Public Sector Pension Investment Board owned about 0.22% of Verra Mobility worth $9,965,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Westwood Holdings Group Inc. grew its position in Verra Mobility by 7.0% in the second quarter. Westwood Holdings Group Inc. now owns 3,380,416 shares of the company’s stock valued at $91,947,000 after purchasing an additional 221,385 shares in the last quarter. Sei Investments Co. increased its position in shares of Verra Mobility by 31.7% in the second quarter. Sei Investments Co. now owns 698,865 shares of the company’s stock valued at $19,009,000 after acquiring an additional 168,074 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in Verra Mobility during the second quarter worth about $131,000. Hsbc Holdings PLC raised its holdings in Verra Mobility by 6.1% during the second quarter. Hsbc Holdings PLC now owns 15,471 shares of the company’s stock worth $422,000 after acquiring an additional 892 shares in the last quarter. Finally, Tredje AP fonden acquired a new position in Verra Mobility during the second quarter valued at approximately $1,180,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on VRRM. Morgan Stanley lifted their price objective on shares of Verra Mobility from $22.00 to $27.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lifted their price target on Verra Mobility from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, August 9th.

Verra Mobility Stock Performance

VRRM opened at $27.95 on Tuesday. The company has a debt-to-equity ratio of 2.36, a current ratio of 2.57 and a quick ratio of 2.47. The company has a market capitalization of $4.65 billion, a PE ratio of 55.90, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. The business has a fifty day simple moving average of $28.14 and a 200 day simple moving average of $26.61. Verra Mobility Co. has a 1 year low of $18.49 and a 1 year high of $31.03.

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

About Verra Mobility

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.