Perpetual Ltd Purchases 14,880 Shares of Verra Mobility Corp $VRRM

Key Points

• Perpetual Ltd increased its ownership in Verra Mobility Corp shares by 9.1%, totaling 178,323 shares worth approximately $4.53 million.
• Verra Mobility's stock price target was raised by analysts at Robert W. Baird from $28.00 to $30.00, affirming a market outlook of "outperform".
• The company reported a net margin of 4.30% and a return on equity of 55.14%, with earnings per share beating expectations by $0.01.

Perpetual Ltd grew its stake in Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 9.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,323 shares of the company's stock after acquiring an additional 14,880 shares during the period. Perpetual Ltd owned 0.11% of Verra Mobility worth $4,528,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of VRRM. Caitong International Asset Management Co. Ltd grew its holdings in shares of Verra Mobility by 13,638.5% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,786 shares of the company's stock valued at $40,000 after acquiring an additional 1,773 shares in the last quarter. Quarry LP grew its holdings in shares of Verra Mobility by 361.8% in the 1st quarter. Quarry LP now owns 4,055 shares of the company's stock valued at $91,000 after acquiring an additional 3,177 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Verra Mobility by 18.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,542 shares of the company's stock valued at $170,000 after acquiring an additional 1,161 shares in the last quarter. US Bancorp DE grew its holdings in Verra Mobility by 76.6% during the first quarter. US Bancorp DE now owns 7,782 shares of the company's stock worth $175,000 after purchasing an additional 3,376 shares during the period. Finally, Strs Ohio bought a new position in Verra Mobility during the first quarter worth about $180,000.

Verra Mobility Trading Down 0.7%

Shares of Verra Mobility stock traded down $0.17 during trading on Tuesday, hitting $24.30. The company's stock had a trading volume of 63,467 shares, compared to its average volume of 1,086,265. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.28 and a quick ratio of 2.21. Verra Mobility Corp has a 52 week low of $19.51 and a 52 week high of $28.25. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of 101.19, a price-to-earnings-growth ratio of 2.85 and a beta of 0.80. The stock has a 50-day moving average price of $24.64 and a two-hundred day moving average price of $23.59.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last issued its quarterly earnings data 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 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. Verra Mobility's revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts anticipate that Verra Mobility Corp will post 1.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on VRRM. Robert W. Baird lifted their price target on Verra Mobility from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, August 21st. Wall Street Zen cut Verra Mobility from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. One equities research 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 company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $27.88.

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.