State of New Jersey Common Pension Fund D Trims Holdings in Verra Mobility Co. (NASDAQ:VRRM)

State of New Jersey Common Pension Fund D reduced its holdings in shares of Verra Mobility Co. (NASDAQ:VRRM) by 44.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,236 shares of the company’s stock after selling 55,962 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Verra Mobility were worth $1,910,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Quest Partners LLC lifted its holdings 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 valued at $27,000 after purchasing an additional 953 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Verra Mobility during the first quarter valued at $26,000. Picton Mahoney Asset Management bought a new stake in Verra Mobility in the first quarter worth $74,000. Montag A & Associates Inc. grew its stake in shares of Verra Mobility by 17.1% in the first quarter. Montag A & Associates Inc. now owns 3,045 shares of the company’s stock worth $76,000 after acquiring an additional 445 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in shares of Verra Mobility by 99.5% during the fourth quarter. Quadrant Capital Group LLC now owns 3,081 shares of the company’s stock valued at $71,000 after acquiring an additional 1,537 shares in the last quarter.

Verra Mobility Trading Up 0.3 %

Shares of NASDAQ:VRRM opened at $27.80 on Friday. The company has a debt-to-equity ratio of 2.36, a current ratio of 2.57 and a quick ratio of 2.47. Verra Mobility Co. has a 1 year low of $18.49 and a 1 year high of $31.03. The company has a market cap of $4.63 billion, a P/E ratio of 55.60, a PEG ratio of 1.77 and a beta of 1.27. The stock’s fifty day moving average price is $28.17 and its 200-day moving average price is $26.53.

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 the consensus estimate of $0.30 by $0.01. Verra Mobility had a net margin of 11.34% and a return on equity of 39.89%. The business had revenue of $222.43 million for the quarter, compared to analysts’ expectations of $220.32 million. During the same quarter in the prior year, the business earned $0.27 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. Sell-side analysts expect that Verra Mobility Co. will post 1.07 earnings per share for the current year.

Wall Street Analyst Weigh In

VRRM has been the topic of a number of analyst reports. Morgan Stanley upped their price target on shares of Verra Mobility from $22.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Verra Mobility from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, August 9th.

Verra Mobility Company 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.