Handelsbanken Fonder AB Sells 1,370,000 Shares of Verra Mobility Co. (NASDAQ:VRRM)

Handelsbanken Fonder AB reduced its position in Verra Mobility Co. (NASDAQ:VRRM - Free Report) by 32.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,845,800 shares of the company's stock after selling 1,370,000 shares during the period. Handelsbanken Fonder AB owned about 1.78% of Verra Mobility worth $64,059,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of VRRM. Smartleaf Asset Management LLC raised its stake in Verra Mobility by 245.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,309 shares of the company's stock valued at $56,000 after buying an additional 1,640 shares during the period. Aster Capital Management DIFC Ltd lifted its holdings in Verra Mobility by 585.1% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 4,720 shares of the company's stock valued at $114,000 after purchasing an additional 4,031 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in Verra Mobility during the fourth quarter worth $129,000. PNC Financial Services Group Inc. increased its holdings in shares of Verra Mobility by 6.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,381 shares of the company's stock valued at $154,000 after purchasing an additional 409 shares during the last quarter. Finally, BankPlus Trust Department acquired a new stake in shares of Verra Mobility during the 4th quarter worth about $184,000.

Wall Street Analyst Weigh In

Several brokerages have issued reports on VRRM. Robert W. Baird raised their price objective on shares of Verra Mobility from $27.00 to $28.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. UBS Group lowered their target price 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. Baird R W upgraded Verra Mobility from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 22nd. Finally, Morgan Stanley decreased their price objective on Verra Mobility from $25.00 to $23.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $27.38.

Verra Mobility Price Performance

Shares of NASDAQ VRRM traded up $0.01 during mid-day trading on Thursday, reaching $24.38. The company had a trading volume of 706,765 shares, compared to its average volume of 1,176,537. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of 40.63, a PEG ratio of 2.18 and a beta of 0.76. The business's 50-day simple moving average is $22.90 and its 200 day simple moving average is $23.62. Verra Mobility Co. has a one year low of $19.51 and a one year high of $31.03. The company has a debt-to-equity ratio of 2.13, a quick ratio of 2.52 and a current ratio of 2.61.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.29 by $0.01. The firm had revenue of $223.25 million for the quarter, compared to analyst estimates of $216.94 million. Verra Mobility had a net margin of 11.64% and a return on equity of 38.97%. The business's quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the firm earned $0.27 EPS. On average, research analysts predict that Verra Mobility Co. will post 1.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jonathan Keyser sold 18,719 shares of the company's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $24.28, for a total transaction of $454,497.32. Following the completion of the sale, the insider now directly owns 1,179 shares in the company, valued at $28,626.12. This represents a 94.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.05% of the company's stock.

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.