Verra Mobility Co. (NASDAQ:VRRM) Holdings Raised by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lifted its stake in shares of Verra Mobility Co. (NASDAQ:VRRM) by 1.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,800 shares of the company’s stock after purchasing an additional 1,400 shares during the quarter. Louisiana State Employees Retirement System owned about 0.05% of Verra Mobility worth $2,279,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of VRRM. Westwood Holdings Group Inc. bought a new stake in shares of Verra Mobility during the first quarter valued at about $78,881,000. Principal Financial Group Inc. raised its stake in shares of Verra Mobility by 67.0% during the fourth quarter. Principal Financial Group Inc. now owns 3,676,017 shares of the company’s stock valued at $84,659,000 after purchasing an additional 1,474,740 shares in the last quarter. Swedbank AB bought a new stake in shares of Verra Mobility during the first quarter valued at about $26,218,000. Norges Bank bought a new stake in shares of Verra Mobility during the fourth quarter valued at about $21,740,000. Finally, Lazard Asset Management LLC grew its holdings in Verra Mobility by 244.0% during the first quarter. Lazard Asset Management LLC now owns 1,309,245 shares of the company’s stock worth $32,691,000 after acquiring an additional 928,597 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Verra Mobility from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Morgan Stanley lifted their target price on Verra Mobility from $22.00 to $27.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 6th.

Verra Mobility Trading Up 2.3 %

VRRM traded up $0.62 during trading on Friday, reaching $28.07. The company had a trading volume of 206,717 shares, compared to its average volume of 1,072,230. The firm’s 50-day simple moving average is $28.21 and its 200 day simple moving average is $25.76. The company has a market cap of $4.67 billion, a price-to-earnings ratio of 54.90, a PEG ratio of 2.03 and a beta of 1.27. Verra Mobility Co. has a 12-month low of $17.04 and a 12-month high of $31.03. The company has a debt-to-equity ratio of 2.31, a quick ratio of 2.64 and a current ratio of 2.75.

Verra Mobility (NASDAQ:VRRM) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The firm had revenue of $222.43 million for the quarter, compared to analysts’ expectations of $220.32 million. Verra Mobility had a return on equity of 37.87% and a net margin of 9.77%. Verra Mobility’s revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the business posted $0.27 EPS. Equities research analysts anticipate that Verra Mobility Co. will post 1.09 earnings per share for the current year.

Insider Buying and Selling

In other Verra Mobility news, Director Michael P. Huerta sold 8,690 shares of Verra Mobility stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $26.50, for a total transaction of $230,285.00. Following the transaction, the director now owns 18,025 shares of the company’s stock, valued at approximately $477,662.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Verra Mobility news, Director Michael P. Huerta sold 8,690 shares of Verra Mobility stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $26.50, for a total transaction of $230,285.00. Following the transaction, the director now owns 18,025 shares of the company’s stock, valued at approximately $477,662.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jonathan Baldwin sold 9,758 shares of Verra Mobility stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $26.14, for a total value of $255,074.12. Following the transaction, the executive vice president now directly owns 7,673 shares in the company, valued at approximately $200,572.22. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,993 shares of company stock valued at $736,974. 0.96% of the stock is owned by corporate insiders.

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.