Norges Bank Buys Shares of 3,061,477 Verra Mobility Corp $VRRM

Norges Bank bought a new stake in shares of Verra Mobility Corp (NASDAQ:VRRM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,061,477 shares of the company’s stock, valued at approximately $68,608,000. Norges Bank owned 1.92% of Verra Mobility as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of VRRM. Royal Bank of Canada lifted its stake in Verra Mobility by 14.3% during the 1st quarter. Royal Bank of Canada now owns 148,464 shares of the company’s stock valued at $3,342,000 after acquiring an additional 18,562 shares during the period. AQR Capital Management LLC lifted its stake in Verra Mobility by 21.7% during the 1st quarter. AQR Capital Management LLC now owns 34,501 shares of the company’s stock valued at $777,000 after acquiring an additional 6,153 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Verra Mobility by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,120 shares of the company’s stock valued at $2,209,000 after acquiring an additional 4,302 shares during the period. Millennium Management LLC lifted its stake in Verra Mobility by 208.0% during the 1st quarter. Millennium Management LLC now owns 375,421 shares of the company’s stock valued at $8,451,000 after acquiring an additional 253,529 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Verra Mobility by 33.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,182,297 shares of the company’s stock valued at $26,614,000 after acquiring an additional 293,082 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on VRRM shares. UBS Group lowered shares of Verra Mobility from a “buy” rating to a “neutral” rating and reduced their price target for the company from $23.00 to $4.00 in a research report on Thursday, May 28th. Robert W. Baird reduced their price target on shares of Verra Mobility from $8.00 to $6.00 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $8.00 price target (down from $17.00) on shares of Verra Mobility in a research report on Wednesday, May 27th. Zacks Research lowered shares of Verra Mobility from a “hold” rating to a “strong sell” rating in a research report on Monday, June 1st. Finally, Weiss Ratings lowered shares of Verra Mobility from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Seven analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $6.83.

Verra Mobility Price Performance

NASDAQ VRRM opened at $4.31 on Friday. Verra Mobility Corp has a 52 week low of $3.40 and a 52 week high of $25.83. The firm has a market capitalization of $654.73 million, a P/E ratio of 5.26, a PEG ratio of 0.98 and a beta of 0.43. The company has a quick ratio of 1.77, a current ratio of 1.89 and a debt-to-equity ratio of 3.76. The company has a 50-day moving average price of $12.74 and a 200-day moving average price of $17.37.

Verra Mobility (NASDAQ:VRRM) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.25 EPS for the quarter, meeting the consensus estimate of $0.25. Verra Mobility had a net margin of 13.38% and a return on equity of 55.59%. The firm had revenue of $223.57 million during the quarter, compared to analyst estimates of $223.34 million. During the same quarter in the prior year, the firm earned $0.30 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. Verra Mobility has set its FY 2026 guidance at 1.320-1.380 EPS. Equities research analysts anticipate that Verra Mobility Corp will post 1.08 earnings per share for the current year.

Verra Mobility Profile

Verra Mobility, traded on the Nasdaq under the ticker VRRM, is a leading provider of smart mobility solutions designed to improve safety, efficiency and compliance for transportation authorities and commercial fleets. The company develops and operates automated traffic enforcement systems, toll and violation management platforms, and connected-vehicle services. Through its technology offerings, Verra Mobility helps public agencies enhance road safety, reduce congestion and streamline revenue collection for tolling and parking.

Verra Mobility’s core products include red-light and speed-camera enforcement programs, license plate recognition systems, and cloud-based violation processing software.