Verra Mobility Corp (NASDAQ:VRRM) Shares Acquired by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in Verra Mobility Corp (NASDAQ:VRRM) by 27.3%, holding 522,635 shares worth approximately $11.77 million after purchasing an additional 112,083 shares in Q1.
• Wall Street analysts have varied opinions on Verra Mobility, with one "strong buy" rating, four "buy" ratings, and a consensus price target of $27.38.
• Verra Mobility reported a quarterly earnings per share of $0.34, exceeding expectations, and had a revenue of $236.03 million, reflecting a 6.1% increase year-over-year.

Public Sector Pension Investment Board increased its stake in shares of Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 27.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 522,635 shares of the company's stock after purchasing an additional 112,083 shares during the period. Public Sector Pension Investment Board owned 0.33% of Verra Mobility worth $11,765,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Westwood Holdings Group Inc. raised its holdings in Verra Mobility by 28.7% in the 4th quarter. Westwood Holdings Group Inc. now owns 4,460,793 shares of the company's stock valued at $107,862,000 after acquiring an additional 994,775 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Verra Mobility by 10.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,111,775 shares of the company's stock valued at $220,323,000 after acquiring an additional 837,648 shares during the last quarter. Sycale Advisors NY LLC acquired a new stake in Verra Mobility in the 4th quarter valued at about $12,654,000. Tidal Investments LLC acquired a new stake in Verra Mobility in the 4th quarter valued at about $11,755,000. Finally, Nuveen LLC acquired a new stake in Verra Mobility in the 1st quarter valued at about $10,209,000.

Wall Street Analyst Weigh In

A number of research firms have commented on VRRM. UBS Group cut their price objective on shares of Verra Mobility from $31.50 to $29.50 and set a "buy" rating for the company in a report on Thursday, May 8th. Wall Street Zen cut shares of Verra Mobility from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. Baird R W raised shares of Verra Mobility from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 22nd. Finally, Robert W. Baird increased their price target on shares of Verra Mobility from $27.00 to $28.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Verra Mobility has a consensus rating of "Buy" and a consensus target price of $27.38.

Verra Mobility Trading Up 0.7%

Shares of Verra Mobility stock traded up $0.17 during mid-day trading on Friday, hitting $24.29. The stock had a trading volume of 720,644 shares, compared to its average volume of 1,058,124. The company has a quick ratio of 2.21, a current ratio of 2.28 and a debt-to-equity ratio of 2.93. The firm has a market cap of $3.87 billion, a P/E ratio of 101.21, a price-to-earnings-growth ratio of 2.86 and a beta of 0.79. The firm has a 50-day moving average of $24.73 and a two-hundred day moving average of $23.71. Verra Mobility Corp has a 12-month low of $19.51 and a 12-month high of $28.25.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $236.03 million during the quarter, compared to analysts' expectations of $232.78 million. Verra Mobility had a net margin of 4.30% and a return on equity of 55.14%. The firm's quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $0.31 EPS. Sell-side analysts forecast that Verra Mobility Corp will post 1.08 earnings per share for the current 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.