Handelsbanken Fonder AB Purchases 261,500 Shares of Verra Mobility Co. (NASDAQ:VRRM)

Handelsbanken Fonder AB boosted its holdings in shares of Verra Mobility Co. (NASDAQ:VRRM) by 7.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,015,800 shares of the company’s stock after buying an additional 261,500 shares during the period. Handelsbanken Fonder AB’s holdings in Verra Mobility were worth $111,679,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Quest Partners LLC grew its stake in Verra Mobility by 1,732.7% in the 2nd 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. Allspring Global Investments Holdings LLC purchased a new stake in Verra Mobility during the first quarter valued at about $26,000. Picton Mahoney Asset Management bought a new stake in Verra Mobility during the first quarter worth about $74,000. Montag A & Associates Inc. boosted its holdings in shares of Verra Mobility by 17.1% in the 1st quarter. Montag A & Associates Inc. now owns 3,045 shares of the company’s stock worth $76,000 after purchasing an additional 445 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Verra Mobility by 713.5% during the 2nd quarter. Fifth Third Bancorp now owns 3,124 shares of the company’s stock valued at $85,000 after purchasing an additional 2,740 shares during the last quarter.

Verra Mobility Trading Up 1.0 %

VRRM traded up $0.26 on Friday, hitting $26.79. 967,264 shares of the company were exchanged, compared to its average volume of 1,065,969. The company has a debt-to-equity ratio of 2.36, a quick ratio of 2.47 and a current ratio of 2.57. Verra Mobility Co. has a 12 month low of $18.76 and a 12 month high of $31.03. The firm has a fifty day simple moving average of $27.61 and a two-hundred day simple moving average of $26.82. The stock has a market capitalization of $4.46 billion, a PE ratio of 53.58, a price-to-earnings-growth ratio of 1.83 and a beta of 1.27.

Verra Mobility (NASDAQ:VRRM) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.31 earnings per share 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 analysts’ expectations of $220.32 million. During the same quarter in the prior year, the company posted $0.27 EPS. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. Sell-side analysts expect that Verra Mobility Co. will post 1.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

VRRM has been the subject of a number of recent research reports. Morgan Stanley boosted their target price on Verra Mobility from $22.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Verra Mobility from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, August 9th.

Verra Mobility Company 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.