Franklin Resources Inc. Buys 219,071 Shares of Verra Mobility Co. (NASDAQ:VRRM)

Franklin Resources Inc. lifted its stake in shares of Verra Mobility Co. (NASDAQ:VRRM) by 13.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,814,342 shares of the company’s stock after purchasing an additional 219,071 shares during the period. Franklin Resources Inc. owned approximately 1.10% of Verra Mobility worth $48,987,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wellington Management Group LLP lifted 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 buying an additional 941,127 shares in the last quarter. State Street Corp raised its position 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 acquiring an additional 357,078 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in shares of Verra Mobility by 7.0% during the third quarter. Handelsbanken Fonder AB now owns 4,015,800 shares of the company’s stock valued at $111,679,000 after acquiring an additional 261,500 shares during the period. Geode Capital Management LLC lifted its stake in shares of Verra Mobility by 0.5% during the third quarter. Geode Capital Management LLC now owns 3,904,750 shares of the company’s stock valued at $108,612,000 after acquiring an additional 17,688 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings 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 acquiring an additional 225,585 shares during the last quarter.

Wall Street Analyst Weigh In

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

Verra Mobility Price Performance

Shares of VRRM opened at $23.96 on Wednesday. The company has a current ratio of 2.61, a quick ratio of 2.52 and a debt-to-equity ratio of 2.13. The stock has a market cap of $3.95 billion, a P/E ratio of 39.93, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23. The stock’s 50-day moving average price is $24.69 and its two-hundred day moving average price is $26.62. Verra Mobility Co. has a 1 year low of $20.26 and a 1 year 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 for the quarter, hitting the consensus estimate of $0.32. Verra Mobility had a net margin of 11.64% and a return on equity of 38.97%. The business had revenue of $225.55 million for the quarter, compared to analyst estimates of $226.65 million. During the same quarter last year, the firm earned $0.27 EPS. Verra Mobility’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, equities analysts predict 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.