The Manufacturers Life Insurance Company Cuts Stock Holdings in Verra Mobility Co. (NASDAQ:VRRM)

The Manufacturers Life Insurance Company lowered its position in shares of Verra Mobility Co. (NASDAQ:VRRM) by 2.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,646 shares of the company’s stock after selling 2,085 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of Verra Mobility worth $2,660,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Fiera Capital Corp bought a new stake in shares of Verra Mobility in the 3rd quarter worth $33,905,000. New York State Common Retirement Fund boosted its position in shares of Verra Mobility by 62.9% during the third quarter. New York State Common Retirement Fund now owns 1,152,330 shares of the company’s stock valued at $32,046,000 after buying an additional 444,911 shares during the last quarter. Summit Creek Advisors LLC bought a new stake in Verra Mobility in the 2nd quarter worth about $10,370,000. Harbor Capital Advisors Inc. increased its holdings in Verra Mobility by 149.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 605,851 shares of the company’s stock worth $16,849,000 after buying an additional 363,357 shares in the last quarter. Finally, Braun Stacey Associates Inc. raised its position in Verra Mobility by 148.0% in the 3rd quarter. Braun Stacey Associates Inc. now owns 439,904 shares of the company’s stock worth $12,234,000 after buying an additional 262,509 shares during the last quarter.

Verra Mobility Price Performance

Shares of NASDAQ:VRRM opened at $23.71 on Monday. The firm’s 50 day moving average price is $25.10 and its 200-day moving average price is $26.74. The stock has a market capitalization of $3.91 billion, a PE ratio of 39.52, a price-to-earnings-growth ratio of 2.11 and a beta of 1.23. Verra Mobility Co. has a twelve month low of $20.26 and a twelve month high of $31.03. The company has a quick ratio of 2.52, a current ratio of 2.61 and a debt-to-equity ratio of 2.13.

Verra Mobility (NASDAQ:VRRM) last released its earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, hitting 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 for the quarter, compared to analysts’ expectations of $226.65 million. During the same quarter last year, the business earned $0.27 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. Equities research analysts expect that Verra Mobility Co. will post 1.08 EPS for the current year.

Analyst Ratings Changes

VRRM has been the subject of a number of research analyst reports. Robert W. Baird reduced their price target on shares of Verra Mobility from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Morgan Stanley cut their target price on shares of Verra Mobility from $26.00 to $25.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Verra Mobility from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Friday, November 1st.

About Verra Mobility

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.