KLP Kapitalforvaltning AS Acquires 2,200 Shares of Verra Mobility Corp $VRRM

KLP Kapitalforvaltning AS lifted its holdings in Verra Mobility Corp (NASDAQ:VRRM) by 7.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,300 shares of the company’s stock after acquiring an additional 2,200 shares during the period. KLP Kapitalforvaltning AS’s holdings in Verra Mobility were worth $845,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. US Bancorp DE grew its holdings in Verra Mobility by 76.6% during the 1st quarter. US Bancorp DE now owns 7,782 shares of the company’s stock valued at $175,000 after purchasing an additional 3,376 shares during the last quarter. Arizona State Retirement System lifted its stake in Verra Mobility by 4.2% in the first quarter. Arizona State Retirement System now owns 47,252 shares of the company’s stock worth $1,064,000 after purchasing an additional 1,891 shares during the last quarter. Intech Investment Management LLC lifted its stake in Verra Mobility by 19.6% in the first quarter. Intech Investment Management LLC now owns 83,066 shares of the company’s stock worth $1,870,000 after purchasing an additional 13,636 shares during the last quarter. Punch & Associates Investment Management Inc. lifted its stake in Verra Mobility by 2.4% in the first quarter. Punch & Associates Investment Management Inc. now owns 1,121,731 shares of the company’s stock worth $25,250,000 after purchasing an additional 26,067 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Verra Mobility by 46.6% in the second quarter. Farther Finance Advisors LLC now owns 1,447 shares of the company’s stock worth $37,000 after purchasing an additional 460 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on VRRM. Robert W. Baird raised their price objective on shares of Verra Mobility from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, August 21st. Weiss Ratings reissued a “hold (c-)” rating on shares of Verra Mobility in a research note on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Verra Mobility from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.88.

Verra Mobility Price Performance

Shares of VRRM stock opened at $24.25 on Thursday. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.28 and a quick ratio of 2.21. The company has a market capitalization of $3.87 billion, a P/E ratio of 101.05, a P/E/G ratio of 2.83 and a beta of 0.77. The company’s 50-day simple moving average is $24.42 and its two-hundred day simple moving average is $23.97. Verra Mobility Corp has a one year low of $19.51 and a one year high of $27.83.

Verra Mobility (NASDAQ:VRRM) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01. Verra Mobility had a net margin of 4.30% and a return on equity of 55.14%. The firm had revenue of $236.03 million during the quarter, compared to analysts’ expectations of $232.78 million. During the same quarter in the prior year, the company earned $0.31 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. As a group, equities analysts anticipate that Verra Mobility Corp will post 1.08 EPS 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.