Edgestream Partners L.P. Takes $7.04 Million Position in Verra Mobility Co. (NASDAQ:VRRM)

Edgestream Partners L.P. bought a new position in Verra Mobility Co. (NASDAQ:VRRM) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 253,127 shares of the company’s stock, valued at approximately $7,039,000. Edgestream Partners L.P. owned about 0.15% of Verra Mobility at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quest Partners LLC raised its stake in shares of Verra Mobility by 1,732.7% in the second quarter. Quest Partners LLC now owns 1,008 shares of the company’s stock worth $27,000 after purchasing an additional 953 shares during the last quarter. Signaturefd LLC increased its holdings in Verra Mobility by 112.4% in the 3rd quarter. Signaturefd LLC now owns 1,060 shares of the company’s stock worth $29,000 after buying an additional 561 shares during the period. First Horizon Advisors Inc. raised its position in Verra Mobility by 192.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,133 shares of the company’s stock worth $32,000 after buying an additional 745 shares during the last quarter. Fifth Third Bancorp lifted its stake in Verra Mobility by 713.5% during the 2nd quarter. Fifth Third Bancorp now owns 3,124 shares of the company’s stock valued at $85,000 after acquiring an additional 2,740 shares during the period. Finally, Blue Trust Inc. lifted its stake in Verra Mobility by 27.5% during the 3rd quarter. Blue Trust Inc. now owns 3,219 shares of the company’s stock valued at $88,000 after acquiring an additional 694 shares during the period.

Analysts Set New Price Targets

Several brokerages recently issued reports on VRRM. Deutsche Bank Aktiengesellschaft reduced 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. Robert W. Baird reduced their price objective on Verra Mobility from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Finally, Morgan Stanley decreased their price objective on Verra Mobility from $26.00 to $25.00 and set an “equal weight” rating for the company in a report on Wednesday, October 30th.

Verra Mobility Price Performance

NASDAQ:VRRM opened at $23.66 on Friday. The company has a 50 day moving average price of $25.58 and a 200-day moving average price of $26.91. Verra Mobility Co. has a 1-year low of $19.94 and a 1-year high of $31.03. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 39.43, a price-to-earnings-growth ratio of 2.10 and a beta of 1.27. The company has a debt-to-equity ratio of 2.13, a current ratio of 2.61 and a quick ratio of 2.52.

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, meeting analysts’ consensus estimates of $0.32. Verra Mobility had a net margin of 11.64% and a return on equity of 38.97%. The company had revenue of $225.55 million during the quarter, compared to analysts’ expectations of $226.65 million. During the same quarter in the previous year, the company earned $0.27 earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities research analysts forecast that Verra Mobility Co. will post 1.08 EPS for the current year.

Verra Mobility Company 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.