Verra Mobility Co. (NASDAQ:VRRM) Stock Position Lowered by Swedbank AB

Swedbank AB lessened its position in Verra Mobility Co. (NASDAQ:VRRM) by 4.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 907,000 shares of the company’s stock after selling 39,000 shares during the quarter. Swedbank AB owned approximately 0.54% of Verra Mobility worth $25,224,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Verra Mobility in the 1st quarter valued at approximately $26,000. Quest Partners LLC increased 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 valued at $27,000 after buying an additional 953 shares during the period. Picton Mahoney Asset Management acquired a new position in Verra Mobility in the 1st quarter valued at approximately $74,000. Montag A & Associates Inc. increased its stake in Verra Mobility by 17.1% in the 1st quarter. Montag A & Associates Inc. now owns 3,045 shares of the company’s stock valued at $76,000 after buying an additional 445 shares during the period. Finally, Fifth Third Bancorp increased its stake in Verra Mobility by 713.5% in the 2nd quarter. Fifth Third Bancorp now owns 3,124 shares of the company’s stock valued at $85,000 after buying an additional 2,740 shares during the period.

Verra Mobility Stock Performance

Shares of VRRM opened at $27.61 on Thursday. The company’s fifty day moving average is $27.28 and its 200-day moving average is $26.98. Verra Mobility Co. has a 12 month low of $18.76 and a 12 month high of $31.03. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 55.22, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. The company has a quick ratio of 2.47, a current ratio of 2.57 and a debt-to-equity ratio of 2.36.

Verra Mobility (NASDAQ:VRRM) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.31 EPS for the quarter, topping 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 company had revenue of $222.43 million for the quarter, compared to analyst estimates of $220.32 million. During the same quarter in the prior year, the business posted $0.27 EPS. Verra Mobility’s quarterly revenue was up 8.8% on a year-over-year basis. Equities analysts expect that Verra Mobility Co. will post 1.07 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Robert W. Baird upped their price objective on shares of Verra Mobility from $28.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday. 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. Finally, Morgan Stanley upped 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 note on Tuesday, August 6th.

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.