Geode Capital Management LLC Purchases 17,688 Shares of Verra Mobility Co. (NASDAQ:VRRM)

Geode Capital Management LLC boosted its position in shares of Verra Mobility Co. (NASDAQ:VRRM) by 0.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,904,750 shares of the company’s stock after purchasing an additional 17,688 shares during the period. Geode Capital Management LLC owned about 2.37% of Verra Mobility worth $108,612,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VRRM. Wellington Management Group LLP grew its holdings in Verra Mobility by 13.2% during the 3rd quarter. Wellington Management Group LLP now owns 8,065,795 shares of the company’s stock worth $224,310,000 after acquiring an additional 941,127 shares during the period. State Street Corp grew its stake in shares of Verra Mobility by 6.0% during the third quarter. State Street Corp now owns 6,301,131 shares of the company’s stock worth $175,234,000 after purchasing an additional 357,078 shares during the period. Handelsbanken Fonder AB increased its holdings in Verra Mobility by 7.0% in the third quarter. Handelsbanken Fonder AB now owns 4,015,800 shares of the company’s stock valued at $111,679,000 after purchasing an additional 261,500 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Verra Mobility by 6.4% in the third quarter. Principal Financial Group Inc. now owns 3,756,352 shares of the company’s stock valued at $104,464,000 after buying an additional 225,585 shares during the period. Finally, Westwood Holdings Group Inc. increased its stake in Verra Mobility by 7.0% in the second quarter. Westwood Holdings Group Inc. now owns 3,380,416 shares of the company’s stock valued at $91,947,000 after purchasing an additional 221,385 shares in the last quarter.

Verra Mobility Trading Down 2.5 %

Shares of VRRM stock opened at $23.36 on Thursday. Verra Mobility Co. has a 12-month low of $20.26 and a 12-month high of $31.03. The firm has a 50 day moving average price of $24.55 and a two-hundred day moving average price of $26.57. 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 $3.85 billion, a PE ratio of 38.93, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23.

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

Analysts Set New Price Targets

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

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.