Vanguard Group Inc. Has $389.58 Million Stock Holdings in Verra Mobility Corp (NASDAQ:VRRM)

Key Points

• Vanguard Group Inc. reduced its stake in Verra Mobility Corp by 1.7%, holding approximately 10.84% of the company after selling 305,049 shares, which are now valued at $389.58 million.
• Several other hedge funds have also adjusted their positions in Verra Mobility, with Price T Rowe Associates increasing its stake by 10.1%.
• Verra Mobility's stock received mixed ratings from analysts, with Baird R W upgrading it to a "strong-buy" rating while UBS Group lowered its target price to $29.50, creating a current consensus price target of $27.38.

Vanguard Group Inc. cut its holdings in Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 1.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,307,052 shares of the company's stock after selling 305,049 shares during the quarter. Vanguard Group Inc. owned 10.84% of Verra Mobility worth $389,582,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. US Bancorp DE lifted its stake in Verra Mobility by 76.6% during the 1st quarter. US Bancorp DE now owns 7,782 shares of the company's stock worth $175,000 after acquiring an additional 3,376 shares in the last quarter. Arizona State Retirement System lifted its stake in Verra Mobility by 4.2% during the 1st quarter. Arizona State Retirement System now owns 47,252 shares of the company's stock worth $1,064,000 after acquiring an additional 1,891 shares in the last quarter. GAMMA Investing LLC lifted its stake in Verra Mobility by 2,258.8% during the 1st quarter. GAMMA Investing LLC now owns 83,242 shares of the company's stock worth $1,874,000 after acquiring an additional 79,713 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Verra Mobility during the 1st quarter worth about $816,000. Finally, Xponance Inc. increased its holdings in Verra Mobility by 4.9% during the 1st quarter. Xponance Inc. now owns 12,451 shares of the company's stock worth $280,000 after purchasing an additional 586 shares during the period.

Verra Mobility Trading Up 0.7%

Verra Mobility stock traded up $0.17 during midday trading on Friday, reaching $24.29. The stock had a trading volume of 720,644 shares, compared to its average volume of 1,061,440. Verra Mobility Corp has a twelve month low of $19.51 and a twelve month high of $28.25. The stock has a market capitalization of $3.88 billion, a PE ratio of 101.21, a price-to-earnings-growth ratio of 2.84 and a beta of 0.79. The company has a debt-to-equity ratio of 2.93, a quick ratio of 2.21 and a current ratio of 2.28. The stock's 50-day simple moving average is $24.73 and its 200 day simple moving average is $23.69.

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

Analysts Set New Price Targets

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

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.