Handelsbanken Fonder AB Lowers Stake in Verra Mobility Co. (NASDAQ:VRRM)

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

Other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in Verra Mobility during the 1st quarter worth approximately $816,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Verra Mobility by 2.0% in the 1st quarter. Harbor Capital Advisors Inc. now owns 628,099 shares of the company's stock valued at $14,139,000 after buying an additional 12,194 shares during the period. GAMMA Investing LLC boosted its stake in shares of Verra Mobility by 2,258.8% in the first quarter. GAMMA Investing LLC now owns 83,242 shares of the company's stock valued at $1,874,000 after buying an additional 79,713 shares in the last quarter. Armis Advisers LLC acquired a new position in Verra Mobility during the fourth quarter worth $307,000. Finally, Public Employees Retirement System of Ohio raised its position in Verra Mobility by 14.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 262,479 shares of the company's stock worth $6,347,000 after acquiring an additional 32,627 shares in the last quarter.

Analysts Set New Price Targets

Several brokerages have commented on VRRM. UBS Group decreased their target price on shares of Verra Mobility from $31.50 to $29.50 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Robert W. Baird raised their price objective 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. Baird R W raised shares of Verra Mobility from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 22nd. Finally, Morgan Stanley lowered their target price on shares of Verra Mobility from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 27th. One 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 company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $27.38.

Insider Activity

In other news, insider Jonathan Keyser sold 18,719 shares of the business's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $24.28, for a total value of $454,497.32. Following the completion of the transaction, the insider now directly owns 1,179 shares of the company's stock, valued at $28,626.12. The trade was a 94.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.05% of the company's stock.

Verra Mobility Price Performance

VRRM traded down $0.44 during trading on Friday, reaching $23.94. 1,015,302 shares of the stock were exchanged, compared to its average volume of 1,174,196. The company has a debt-to-equity ratio of 2.13, a current ratio of 2.61 and a quick ratio of 2.52. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of 39.90, a P/E/G ratio of 2.18 and a beta of 0.76. Verra Mobility Co. has a 1 year low of $19.51 and a 1 year high of $31.03. The business's 50 day moving average price is $23.02 and its two-hundred day moving average price is $23.62.

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

Verra Mobility Company 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.