Resona Asset Management Co. Ltd. Takes Position in Verra Mobility Corp $VRRM

Resona Asset Management Co. Ltd. acquired a new position in shares of Verra Mobility Corp (NASDAQ:VRRM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,900 shares of the company’s stock, valued at approximately $201,000.

Several other large investors have also added to or reduced their stakes in VRRM. Price T Rowe Associates Inc. MD increased its position in shares of Verra Mobility by 12.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,265,348 shares of the company’s stock valued at $231,074,000 after buying an additional 1,153,573 shares during the period. Wellington Management Group LLP boosted its position in shares of Verra Mobility by 5.1% in the first quarter. Wellington Management Group LLP now owns 7,922,473 shares of the company’s stock valued at $178,335,000 after acquiring an additional 386,760 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Verra Mobility by 155.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,280,591 shares of the company’s stock valued at $118,866,000 after acquiring an additional 3,215,973 shares in the last quarter. Westwood Holdings Group Inc. increased its holdings in Verra Mobility by 9.3% during the 1st quarter. Westwood Holdings Group Inc. now owns 4,873,442 shares of the company’s stock worth $109,701,000 after acquiring an additional 412,649 shares during the period. Finally, William Blair Investment Management LLC lifted its stake in Verra Mobility by 15.8% in the 2nd quarter. William Blair Investment Management LLC now owns 2,582,884 shares of the company’s stock worth $65,579,000 after purchasing an additional 352,942 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on VRRM shares. Wall Street Zen cut shares of Verra Mobility from a “strong-buy” rating to a “buy” rating in a report on Sunday. UBS Group upped their target price on Verra Mobility from $29.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Robert W. Baird raised their price target on Verra Mobility from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, August 21st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Verra Mobility in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.00.

Verra Mobility Trading Down 0.3%

Shares of VRRM stock opened at $22.99 on Wednesday. The business has a 50-day moving average price of $24.10 and a two-hundred day moving average price of $24.25. Verra Mobility Corp has a 12-month low of $19.51 and a 12-month high of $27.20. The company has a quick ratio of 2.21, a current ratio of 2.28 and a debt-to-equity ratio of 2.93. The firm has a market cap of $3.67 billion, a P/E ratio of 71.85, a price-to-earnings-growth ratio of 2.79 and a beta of 0.76.

Verra Mobility (NASDAQ:VRRM) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.34 by $0.03. The firm had revenue of $261.94 million for the quarter, compared to analyst estimates of $237.68 million. Verra Mobility had a return on equity of 65.57% and a net margin of 5.42%.The company’s revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.32 EPS. Verra Mobility has set its FY 2025 guidance at 1.300-1.350 EPS. Equities analysts anticipate that Verra Mobility Corp will post 1.08 EPS 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.