Bridgewater Associates LP Decreases Stock Holdings in Verra Mobility Co. (NASDAQ:VRRM)

Bridgewater Associates LP cut its stake in shares of Verra Mobility Co. (NASDAQ:VRRM) by 55.8% in the third quarter, HoldingsChannel.com reports. The fund owned 19,918 shares of the company’s stock after selling 25,148 shares during the period. Bridgewater Associates LP’s holdings in Verra Mobility were worth $554,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Quest Partners LLC lifted its stake in Verra Mobility by 1,732.7% in the 2nd quarter. Quest Partners LLC now owns 1,008 shares of the company’s stock valued at $27,000 after buying an additional 953 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Verra Mobility by 112.4% in the third quarter. Signaturefd LLC now owns 1,060 shares of the company’s stock worth $29,000 after acquiring an additional 561 shares during the last quarter. First Horizon Advisors Inc. raised its stake in Verra Mobility by 192.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,133 shares of the company’s stock valued at $32,000 after purchasing an additional 745 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Verra Mobility by 713.5% during the second quarter. Fifth Third Bancorp now owns 3,124 shares of the company’s stock worth $85,000 after buying an additional 2,740 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Verra Mobility by 27.5% during the third quarter. Blue Trust Inc. now owns 3,219 shares of the company’s stock worth $88,000 after buying an additional 694 shares in the last quarter.

Verra Mobility Stock Performance

Shares of VRRM stock opened at $23.78 on Tuesday. Verra Mobility Co. has a one year low of $20.25 and a one year high of $31.03. The firm’s 50 day moving average price is $25.50 and its 200-day moving average price is $26.88. The firm has a market cap of $3.92 billion, a P/E ratio of 39.43, a P/E/G ratio of 2.11 and a beta of 1.27. The company has a debt-to-equity ratio of 2.13, a quick ratio of 2.52 and a current ratio of 2.61.

Verra Mobility (NASDAQ:VRRM) last announced 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. The firm had revenue of $225.55 million during the quarter, compared to analysts’ expectations of $226.65 million. Verra Mobility had a net margin of 11.64% and a return on equity of 38.97%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 earnings per share. As a group, equities research analysts predict that Verra Mobility Co. will post 1.08 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on VRRM shares. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Verra Mobility from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Morgan Stanley cut their target price on 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 lowered their price target on shares of Verra Mobility from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st.

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.