The Manufacturers Life Insurance Company Has $2.66 Million Stock Position in Verra Mobility Co. (NASDAQ:VRRM)

The Manufacturers Life Insurance Company boosted its position in shares of Verra Mobility Co. (NASDAQ:VRRM) by 15.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 97,731 shares of the company’s stock after purchasing an additional 13,167 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.06% of Verra Mobility worth $2,658,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in VRRM. Quest Partners LLC raised its stake in shares of Verra Mobility by 1,732.7% during the second quarter. Quest Partners LLC now owns 1,008 shares of the company’s stock worth $27,000 after buying an additional 953 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Verra Mobility during the 1st quarter valued at $26,000. Picton Mahoney Asset Management bought a new stake in shares of Verra Mobility during the 1st quarter valued at $74,000. Montag A & Associates Inc. lifted its stake in shares of Verra Mobility by 17.1% in the 1st quarter. Montag A & Associates Inc. now owns 3,045 shares of the company’s stock valued at $76,000 after purchasing an additional 445 shares during the period. Finally, Fifth Third Bancorp boosted its position in shares of Verra Mobility by 713.5% in the 2nd quarter. Fifth Third Bancorp now owns 3,124 shares of the company’s stock worth $85,000 after purchasing an additional 2,740 shares during the last quarter.

Verra Mobility Price Performance

Shares of VRRM stock opened at $27.43 on Wednesday. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of 54.86, a price-to-earnings-growth ratio of 1.83 and a beta of 1.27. Verra Mobility Co. has a 12-month low of $18.76 and a 12-month high of $31.03. The company has a quick ratio of 2.47, a current ratio of 2.57 and a debt-to-equity ratio of 2.36. The firm has a fifty day moving average of $27.50 and a 200-day moving average of $26.90.

Verra Mobility (NASDAQ:VRRM) last posted its earnings results on Thursday, August 8th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. The firm had revenue of $222.43 million during the quarter, compared to analysts’ expectations of $220.32 million. Verra Mobility had a return on equity of 39.89% and a net margin of 11.34%. The company’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.27 earnings per share. On average, equities research analysts forecast that Verra Mobility Co. will post 1.07 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on VRRM. Morgan Stanley upped their price objective on Verra Mobility from $22.00 to $27.00 and gave the company an “equal weight” rating in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft upped their price target on Verra Mobility from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, August 9th.

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.