Intech Investment Management LLC Acquires 13,636 Shares of Verra Mobility Corp $VRRM

Key Points

• Intech Investment Management LLC increased its holdings in Verra Mobility Corp by 19.6% in Q1, acquiring an additional 13,636 shares, bringing its total to 83,066 shares valued at approximately $1.87 million.
• Verra Mobility reported earnings of $0.34 per share in its latest quarter, exceeding the consensus estimate of $0.33, along with a revenue increase of 6.1% year-over-year, totaling $236.03 million.
• Several institutional investors, including UBS AM, Wellington Management, and Price T Rowe Associates, have significantly increased their stakes in Verra Mobility, indicating strong investor interest in the company.

Intech Investment Management LLC lifted its holdings in Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 19.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 83,066 shares of the company's stock after buying an additional 13,636 shares during the quarter. Intech Investment Management LLC owned about 0.05% of Verra Mobility worth $1,870,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd raised its holdings in shares of Verra Mobility by 13,638.5% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,786 shares of the company's stock valued at $40,000 after buying an additional 1,773 shares during the last quarter. Quarry LP raised its holdings in shares of Verra Mobility by 361.8% in the first quarter. Quarry LP now owns 4,055 shares of the company's stock valued at $91,000 after buying an additional 3,177 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Verra Mobility by 18.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,542 shares of the company's stock worth $170,000 after purchasing an additional 1,161 shares during the last quarter. US Bancorp DE raised its holdings in Verra Mobility by 76.6% during the 1st quarter. US Bancorp DE now owns 7,782 shares of the company's stock worth $175,000 after purchasing an additional 3,376 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in Verra Mobility during the 1st quarter worth about $224,000.

Verra Mobility Stock Performance

Verra Mobility stock traded down $0.24 during mid-day trading on Friday, hitting $24.39. 2,172,220 shares of the company's stock traded hands, compared to its average volume of 775,278. The firm has a 50 day simple moving average of $24.65 and a two-hundred day simple moving average of $23.54. Verra Mobility Corp has a fifty-two week low of $19.51 and a fifty-two week high of $28.25. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of 101.63, a P/E/G ratio of 2.88 and a beta of 0.80. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.28 and a quick ratio of 2.21.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. Verra Mobility had a return on equity of 55.14% and a net margin of 4.30%.The business had revenue of $236.03 million during the quarter, compared to the consensus estimate of $232.78 million. During the same quarter last year, the firm posted $0.31 EPS. The company's quarterly revenue was up 6.1% on a year-over-year basis. On average, research analysts expect that Verra Mobility Corp will post 1.08 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on VRRM. Wall Street Zen cut Verra Mobility from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Robert W. Baird boosted their price objective on Verra Mobility from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $27.88.

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.