Northern Trust Corp Has $54.62 Million Stock Holdings in Verra Mobility Corp $VRRM

Key Points

• Northern Trust Corp increased its holdings in Verra Mobility Corp by 3.5%, owning a total of 2,426,306 shares worth $54.6 million.
• Several institutions, including Westwood Holdings and UBS AM, have also significantly increased their stakes in Verra Mobility recently, indicating a strong interest among investors.
• Analysts have mixed ratings on Verra Mobility, with a consensus rating of "Buy" and an average target price of $27.88 following recent price adjustments.

Northern Trust Corp lifted its stake in Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 3.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,426,306 shares of the company's stock after acquiring an additional 83,168 shares during the period. Northern Trust Corp owned 1.52% of Verra Mobility worth $54,616,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the business. Algert Global LLC grew its holdings in shares of Verra Mobility by 1,046.0% during the 1st quarter. Algert Global LLC now owns 230,880 shares of the company's stock worth $5,197,000 after purchasing an additional 210,734 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Verra Mobility by 10.8% during the 1st quarter. American Century Companies Inc. now owns 2,311,408 shares of the company's stock worth $52,030,000 after purchasing an additional 225,359 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Verra Mobility by 13,638.5% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,786 shares of the company's stock worth $40,000 after purchasing an additional 1,773 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Verra Mobility by 115.9% during the 1st quarter. Russell Investments Group Ltd. now owns 138,818 shares of the company's stock worth $3,125,000 after purchasing an additional 74,513 shares in the last quarter. Finally, HighTower Advisors LLC grew its holdings in shares of Verra Mobility by 7.9% during the 1st quarter. HighTower Advisors LLC now owns 12,433 shares of the company's stock worth $280,000 after purchasing an additional 911 shares in the last quarter.

Verra Mobility Price Performance

VRRM traded down $0.34 during trading on Friday, hitting $24.85. The company's stock had a trading volume of 753,968 shares, compared to its average volume of 974,766. The firm's 50 day moving average price is $24.87 and its two-hundred day moving average price is $23.64. The company has a quick ratio of 2.21, a current ratio of 2.28 and a debt-to-equity ratio of 2.93. Verra Mobility Corp has a 12 month low of $19.51 and a 12 month high of $28.25. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of 103.55, a price-to-earnings-growth ratio of 2.94 and a beta of 0.79.

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

Wall Street Analysts Forecast Growth

VRRM has been the topic of several recent analyst reports. Wall Street Zen lowered Verra Mobility from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. Robert W. Baird boosted their price target on Verra Mobility from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, August 21st. Finally, UBS Group decreased their price target on Verra Mobility from $31.50 to $29.50 and set a "buy" rating on the stock in a research note on Thursday, May 8th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Verra Mobility has a consensus rating of "Buy" and an average price target of $27.88.

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.