Truvestments Capital LLC Buys 2,279 Shares of Verra Mobility Co. (NASDAQ:VRRM)

Truvestments Capital LLC grew its stake in shares of Verra Mobility Co. (NASDAQ:VRRM) by 10.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,552 shares of the company’s stock after buying an additional 2,279 shares during the quarter. Truvestments Capital LLC’s holdings in Verra Mobility were worth $683,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of VRRM. Citigroup Inc. boosted its holdings in shares of Verra Mobility by 73.0% during the 3rd quarter. Citigroup Inc. now owns 222,910 shares of the company’s stock valued at $6,199,000 after acquiring an additional 94,073 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Verra Mobility by 2.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,719,661 shares of the company’s stock valued at $47,824,000 after purchasing an additional 37,131 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Verra Mobility during the third quarter valued at about $924,000. Moran Wealth Management LLC grew its holdings in shares of Verra Mobility by 32.5% during the third quarter. Moran Wealth Management LLC now owns 21,002 shares of the company’s stock worth $584,000 after purchasing an additional 5,152 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its stake in shares of Verra Mobility by 192.0% in the third quarter. First Horizon Advisors Inc. now owns 1,133 shares of the company’s stock valued at $32,000 after buying an additional 745 shares during the period.

Verra Mobility Price Performance

Verra Mobility stock opened at $24.00 on Monday. The firm has a market cap of $3.96 billion, a P/E ratio of 39.40, a P/E/G ratio of 2.11 and a beta of 1.27. The stock’s 50 day moving average is $25.87 and its 200 day moving average is $27.00. The company has a debt-to-equity ratio of 2.13, a current ratio of 2.61 and a quick ratio of 2.52. Verra Mobility Co. has a one year low of $19.67 and a one year high of $31.03.

Verra Mobility (NASDAQ:VRRM) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. Verra Mobility had a net margin of 11.64% and a return on equity of 38.97%. The firm had revenue of $225.55 million for the quarter, compared to the consensus estimate of $226.65 million. During the same quarter in the previous year, the company earned $0.27 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, research analysts expect that Verra Mobility Co. will post 1.08 EPS for the current year.

Analyst Upgrades and Downgrades

VRRM has been the topic of a number of research reports. Robert W. Baird reduced their target price on shares of Verra Mobility from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Morgan Stanley cut their price target on shares of Verra Mobility from $26.00 to $25.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Verra Mobility from $31.00 to $29.00 and set a “buy” rating for the company in a report on Friday, November 1st.

About Verra Mobility

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.