Edgestream Partners L.P. Acquires Shares of 253,127 Verra Mobility Co. (NASDAQ:VRRM)

Edgestream Partners L.P. bought a new stake in Verra Mobility Co. (NASDAQ:VRRM) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 253,127 shares of the company’s stock, valued at approximately $7,039,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Quest Partners LLC boosted its holdings in Verra Mobility by 1,732.7% in the 2nd quarter. Quest Partners LLC now owns 1,008 shares of the company’s stock worth $27,000 after buying an additional 953 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Verra Mobility by 112.4% in the third quarter. Signaturefd LLC now owns 1,060 shares of the company’s stock worth $29,000 after acquiring an additional 561 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of Verra Mobility by 192.0% during the third quarter. First Horizon Advisors Inc. now owns 1,133 shares of the company’s stock worth $32,000 after purchasing an additional 745 shares in the last quarter. Fifth Third Bancorp raised its stake in Verra Mobility by 713.5% in the 2nd quarter. Fifth Third Bancorp now owns 3,124 shares of the company’s stock valued at $85,000 after purchasing an additional 2,740 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in Verra Mobility by 27.5% in the 3rd quarter. Blue Trust Inc. now owns 3,219 shares of the company’s stock valued at $88,000 after purchasing an additional 694 shares in the last quarter.

Analysts Set New Price Targets

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

Verra Mobility Stock Up 0.4 %

Shares of VRRM opened at $23.66 on Friday. The stock has a fifty day simple moving average of $25.58 and a two-hundred day simple moving average of $26.91. The company has a quick ratio of 2.52, a current ratio of 2.61 and a debt-to-equity ratio of 2.13. The company has a market capitalization of $3.90 billion, a PE ratio of 39.43, a price-to-earnings-growth ratio of 2.10 and a beta of 1.27. Verra Mobility Co. has a 52-week low of $19.94 and a 52-week high of $31.03.

Verra Mobility (NASDAQ:VRRM) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. The firm had revenue of $225.55 million during the quarter, compared to analysts’ expectations of $226.65 million. Verra Mobility had a net margin of 11.64% and a return on equity of 38.97%. Verra Mobility’s revenue was up 7.4% compared to the same quarter last year. During the same period last year, the business earned $0.27 earnings per share. As a group, equities analysts forecast that Verra Mobility Co. will post 1.08 EPS for the current 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.