Public Employees Retirement System of Ohio Has $6.24 Million Stock Position in Verra Mobility Corp $VRRM

Key Points

• The Public Employees Retirement System of Ohio increased its stake in Verra Mobility Corp by 9.1% in the second quarter, owning about $6.24 million worth of shares.
• Several institutional investors, including UBS AM, have significantly increased their positions in Verra Mobility, contributing to a notable uptick in shares owned.
• Analysts have rated Verra Mobility with an average target price of $27.88 and a consensus rating of "Buy," with one analyst even assigning a "Strong Buy" rating.

Public Employees Retirement System of Ohio increased its position in shares of Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 9.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 245,941 shares of the company's stock after acquiring an additional 20,446 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.15% of Verra Mobility worth $6,244,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Verra Mobility by 155.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,280,591 shares of the company's stock worth $118,866,000 after buying an additional 3,215,973 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Verra Mobility by 12.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,265,348 shares of the company's stock valued at $231,074,000 after acquiring an additional 1,153,573 shares during the last quarter. Sunriver Management LLC lifted its stake in shares of Verra Mobility by 38.6% in the 1st quarter. Sunriver Management LLC now owns 1,920,395 shares of the company's stock valued at $43,228,000 after purchasing an additional 534,810 shares during the period. Nuveen LLC acquired a new position in shares of Verra Mobility in the 1st quarter valued at $10,209,000. Finally, Select Equity Group L.P. boosted its position in shares of Verra Mobility by 517.5% in the 1st quarter. Select Equity Group L.P. now owns 532,704 shares of the company's stock worth $11,991,000 after purchasing an additional 446,441 shares during the last quarter.

Wall Street Analysts Forecast Growth

VRRM has been the subject of several analyst reports. Robert W. Baird boosted their target price on Verra Mobility from $28.00 to $30.00 and gave the stock an "outperform" rating in a research report on Thursday, August 21st. Wall Street Zen lowered shares of Verra Mobility from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $27.88.

Verra Mobility Trading Down 0.6%

VRRM opened at $24.48 on Monday. The stock has a market capitalization of $3.91 billion, a P/E ratio of 102.00, a P/E/G ratio of 2.86 and a beta of 0.80. The company has a current ratio of 2.28, a quick ratio of 2.21 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 $28.06. The firm's fifty day simple moving average is $24.62 and its 200 day simple moving average is $23.71.

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

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.

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