Swedbank AB Has $19.89 Million Stock Holdings in Verra Mobility Corp $VRRM

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

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Xponance Inc. boosted its position in shares of Verra Mobility by 4.9% during the first quarter. Xponance Inc. now owns 12,451 shares of the company's stock worth $280,000 after purchasing an additional 586 shares in the last quarter. Townsquare Capital LLC raised its stake in Verra Mobility by 5.9% during the 1st quarter. Townsquare Capital LLC now owns 12,110 shares of the company's stock worth $273,000 after buying an additional 674 shares during the period. HighTower Advisors LLC lifted its holdings in Verra Mobility by 7.9% during the first quarter. HighTower Advisors LLC now owns 12,433 shares of the company's stock worth $280,000 after acquiring an additional 911 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Verra Mobility by 18.2% in the first 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 during the period. Finally, Cetera Investment Advisers increased its holdings in shares of Verra Mobility by 9.8% in the fourth quarter. Cetera Investment Advisers now owns 13,695 shares of the company's stock worth $331,000 after acquiring an additional 1,218 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on VRRM. Robert W. Baird lifted their price objective on Verra Mobility from $28.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday, August 21st. Wall Street Zen lowered shares of Verra Mobility from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Verra Mobility has an average rating of "Buy" and an average price target of $27.88.

Verra Mobility Stock Down 0.5%

VRRM stock traded down $0.12 during mid-day trading on Tuesday, reaching $24.34. The company had a trading volume of 145,657 shares, compared to its average volume of 1,086,726. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 101.37, a PEG ratio of 2.85 and a beta of 0.80. Verra Mobility Corp has a 52 week low of $19.51 and a 52 week high of $28.25. The stock has a 50 day simple moving average of $24.64 and a two-hundred day simple moving average of $23.59. 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 (NASDAQ:VRRM - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01. The company had revenue of $236.03 million during the quarter, compared to the consensus estimate of $232.78 million. Verra Mobility had a return on equity of 55.14% and a net margin of 4.30%.The firm's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 EPS. As a group, equities analysts predict that Verra Mobility Corp will post 1.08 earnings per share for the current fiscal year.

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.