Swedbank AB Has $25.22 Million Stock Holdings in Verra Mobility Co. (NASDAQ:VRRM)

Swedbank AB reduced its holdings in shares of Verra Mobility Co. (NASDAQ:VRRM) by 4.1% in the third quarter, Holdings Channel reports. The institutional investor owned 907,000 shares of the company’s stock after selling 39,000 shares during the period. Swedbank AB’s holdings in Verra Mobility were worth $25,224,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Fiera Capital Corp acquired a new position in Verra Mobility during the 3rd quarter valued at about $33,905,000. New York State Common Retirement Fund lifted its holdings in shares of Verra Mobility by 62.9% in the third quarter. New York State Common Retirement Fund now owns 1,152,330 shares of the company’s stock valued at $32,046,000 after purchasing an additional 444,911 shares in the last quarter. Summit Creek Advisors LLC bought a new stake in Verra Mobility during the second quarter worth $10,370,000. Harbor Capital Advisors Inc. grew its holdings in Verra Mobility by 149.8% during the third quarter. Harbor Capital Advisors Inc. now owns 605,851 shares of the company’s stock worth $16,849,000 after buying an additional 363,357 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Verra Mobility by 5.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,427,527 shares of the company’s stock valued at $185,466,000 after acquiring an additional 351,694 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

Verra Mobility Price Performance

Shares of NASDAQ:VRRM opened at $23.99 on Tuesday. Verra Mobility Co. has a fifty-two week low of $19.67 and a fifty-two week high of $31.03. The company’s 50-day moving average is $25.81 and its 200 day moving average is $26.98. The company has a debt-to-equity ratio of 2.13, a quick ratio of 2.52 and a current ratio of 2.61. The company has a market capitalization of $3.95 billion, a P/E ratio of 39.98, a price-to-earnings-growth ratio of 2.11 and a beta of 1.27.

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