Verra Mobility Corp $VRRM Stake Boosted by Swedbank AB

Key Points

• Swedbank AB increased its stake in Verra Mobility Corp by 26.8%, owning approximately 783,400 shares valued at nearly $19.9 million as of the latest reporting period.
• Verra Mobility reported a quarterly EPS of $0.34, surpassing analyst estimates and showing a 6.1% increase in revenue year-over-year with total revenue of $236.03 million.
• Analysts have a consensus rating of "Buy" for Verra Mobility, with price targets adjusted, including a recent increase from $28.00 to $30.00 by Robert W. Baird.

Swedbank AB boosted its stake in shares of Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 26.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 783,400 shares of the company's stock after buying an additional 165,400 shares during the period. Swedbank AB owned about 0.49% of Verra Mobility worth $19,891,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its holdings in Verra Mobility by 12.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,265,348 shares of the company's stock worth $231,074,000 after buying an additional 1,153,573 shares during the period. Wellington Management Group LLP raised its holdings in Verra Mobility by 5.1% during the 1st quarter. Wellington Management Group LLP now owns 7,922,473 shares of the company's stock worth $178,335,000 after buying an additional 386,760 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Verra Mobility by 155.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,280,591 shares of the company's stock worth $118,866,000 after buying an additional 3,215,973 shares during the period. Westwood Holdings Group Inc. raised its holdings in Verra Mobility by 9.3% during the 1st quarter. Westwood Holdings Group Inc. now owns 4,873,442 shares of the company's stock worth $109,701,000 after buying an additional 412,649 shares during the period. Finally, Northern Trust Corp raised its holdings in Verra Mobility by 3.5% during the 1st quarter. Northern Trust Corp now owns 2,426,306 shares of the company's stock worth $54,616,000 after buying an additional 83,168 shares during the period.

Verra Mobility Stock Down 1.0%

Shares of Verra Mobility stock opened at $24.39 on Friday. The stock has a market capitalization of $3.89 billion, a P/E ratio of 101.63, a PEG ratio of 2.85 and a beta of 0.80. 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 stock has a 50 day moving average price of $24.65 and a two-hundred day moving average price of $23.55. 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 issued its quarterly earnings results 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 during the quarter, compared to analyst estimates of $232.78 million. During the same period in the previous year, the company earned $0.31 earnings per share. The company's quarterly revenue was up 6.1% compared to the same quarter last year. Equities analysts expect that Verra Mobility Corp will post 1.08 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on VRRM shares. Robert W. Baird boosted their price objective 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 research note on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $27.88.

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.

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