Norges Bank Acquires Shares of 1,908,847 Verra Mobility Co. (NASDAQ:VRRM)

Norges Bank purchased a new stake in Verra Mobility Co. (NASDAQ:VRRM - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,908,847 shares of the company's stock, valued at approximately $46,156,000. Norges Bank owned 1.16% of Verra Mobility as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VRRM. Smartleaf Asset Management LLC raised its stake in shares of Verra Mobility by 245.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,309 shares of the company's stock valued at $56,000 after acquiring an additional 1,640 shares during the period. Avanza Fonder AB acquired a new stake in Verra Mobility in the 4th quarter valued at $74,000. Arcadia Investment Management Corp MI purchased a new position in Verra Mobility in the fourth quarter valued at about $129,000. PNC Financial Services Group Inc. lifted its stake in shares of Verra Mobility by 6.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,381 shares of the company's stock worth $154,000 after purchasing an additional 409 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of Verra Mobility by 61.9% in the fourth quarter. KBC Group NV now owns 7,090 shares of the company's stock worth $171,000 after buying an additional 2,710 shares during the period.

Verra Mobility Stock Up 7.0 %

Verra Mobility stock traded up $1.46 during midday trading on Wednesday, hitting $22.31. 1,772,193 shares of the stock were exchanged, compared to its average volume of 1,142,659. Verra Mobility Co. has a 1 year low of $19.51 and a 1 year high of $31.03. 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 firm has a market cap of $3.56 billion, a P/E ratio of 37.18, a P/E/G ratio of 2.18 and a beta of 0.91. The company has a 50 day moving average price of $23.20 and a two-hundred day moving average price of $24.42.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley dropped their target price on Verra Mobility from $25.00 to $23.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th.

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.