PNC Financial Services Group Inc. Raises Position in Verra Mobility Corp $VRRM

PNC Financial Services Group Inc. grew its position in Verra Mobility Corp (NASDAQ:VRRM) by 18.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,542 shares of the company’s stock after acquiring an additional 1,161 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Verra Mobility were worth $170,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VRRM. Wells Fargo & Company MN grew its holdings in Verra Mobility by 7.2% in the 4th quarter. Wells Fargo & Company MN now owns 197,604 shares of the company’s stock valued at $4,778,000 after buying an additional 13,236 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Verra Mobility by 10.1% in the fourth quarter. Bank of Montreal Can now owns 20,938 shares of the company’s stock valued at $506,000 after purchasing an additional 1,915 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Verra Mobility during the fourth quarter worth $1,436,000. Raymond James Financial Inc. acquired a new stake in Verra Mobility in the 4th quarter valued at about $5,218,000. Finally, Barclays PLC raised its holdings in shares of Verra Mobility by 2.3% in the 4th quarter. Barclays PLC now owns 301,154 shares of the company’s stock valued at $7,283,000 after purchasing an additional 6,697 shares in the last quarter.

Analyst Ratings Changes

VRRM has been the subject of a number of research analyst reports. Wall Street Zen downgraded Verra Mobility from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 26th. Baird R W raised Verra Mobility from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 22nd. Robert W. Baird raised their target price on shares of Verra Mobility from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Finally, UBS Group dropped their price objective on Verra Mobility from $31.50 to $29.50 and set a “buy” rating on the stock in a report on Thursday, May 8th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $27.38.

Verra Mobility Stock Performance

NASDAQ:VRRM opened at $24.13 on Tuesday. Verra Mobility Corp has a twelve month low of $19.51 and a twelve month high of $28.25. The company has a market capitalization of $3.85 billion, a P/E ratio of 100.55, a price-to-earnings-growth ratio of 2.84 and a beta of 0.79. The company has a current ratio of 2.28, a quick ratio of 2.21 and a debt-to-equity ratio of 2.93. The firm has a 50-day moving average price of $24.73 and a two-hundred day moving average price of $23.67.

Verra Mobility (NASDAQ:VRRM) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. The business had revenue of $236.03 million for the quarter, compared to analyst estimates of $232.78 million. Verra Mobility had a return on equity of 55.14% and a net margin of 4.30%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.31 earnings per share. As a group, research analysts expect that Verra Mobility Corp will post 1.08 earnings per share for the current fiscal 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.