Fmr LLC lessened its holdings in Verra Mobility Co. (NASDAQ:VRRM – Free Report) by 46.6% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,455,160 shares of the company’s stock after selling 3,020,687 shares during the period. Fmr LLC owned approximately 2.30% of Verra Mobility worth $58,461,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of VRRM. Cardinal Capital Management LLC CT lifted its stake in Verra Mobility by 63.2% in the fourth quarter. Cardinal Capital Management LLC CT now owns 4,136,741 shares of the company’s stock valued at $57,211,000 after purchasing an additional 1,602,565 shares during the last quarter. Blue Grotto Capital LLC purchased a new position in Verra Mobility in the first quarter valued at approximately $20,964,000. Norges Bank purchased a new position in Verra Mobility in the fourth quarter valued at approximately $16,875,000. Federated Hermes Inc. purchased a new position in Verra Mobility in the first quarter valued at approximately $13,975,000. Finally, River Road Asset Management LLC lifted its stake in Verra Mobility by 132.4% in the first quarter. River Road Asset Management LLC now owns 1,464,409 shares of the company’s stock valued at $24,778,000 after purchasing an additional 834,166 shares during the last quarter.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on VRRM shares. Robert W. Baird boosted their target price on shares of Verra Mobility from $18.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, July 20th. Morgan Stanley boosted their target price on shares of Verra Mobility from $17.00 to $18.00 and gave the company an “equal weight” rating in a report on Thursday, August 10th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Verra Mobility from a “hold” rating to a “buy” rating in a report on Monday, July 31st.
Get Our Latest Stock Report on VRRM
Verra Mobility Trading Up 0.2 %
Verra Mobility stock opened at $17.51 on Thursday. The stock has a market cap of $2.97 billion, a P/E ratio of 39.80, a PEG ratio of 1.74 and a beta of 1.23. Verra Mobility Co. has a fifty-two week low of $12.76 and a fifty-two week high of $21.54. The firm’s fifty day moving average price is $19.67 and its 200-day moving average price is $18.19. The company has a debt-to-equity ratio of 2.43, a quick ratio of 2.89 and a current ratio of 3.00.
Verra Mobility (NASDAQ:VRRM – Get Free Report) last released its quarterly earnings results on Wednesday, August 9th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. The firm had revenue of $204.46 million for the quarter, compared to analysts’ expectations of $199.08 million. Verra Mobility had a net margin of 9.80% and a return on equity of 54.50%. Equities research analysts forecast that Verra Mobility Co. will post 0.99 earnings per share for the current fiscal year.
Insider Transactions at Verra Mobility
In other news, CFO Craig C. Conti sold 37,780 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $19.14, for a total value of $723,109.20. Following the transaction, the chief financial officer now owns 27,906 shares of the company’s stock, valued at $534,120.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.02% of the company’s stock.
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.
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