Wellington Management Group LLP Purchases 941,127 Shares of Verra Mobility Co. (NASDAQ:VRRM)

Wellington Management Group LLP grew its holdings in shares of Verra Mobility Co. (NASDAQ:VRRM) by 13.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,065,795 shares of the company’s stock after purchasing an additional 941,127 shares during the quarter. Wellington Management Group LLP’s holdings in Verra Mobility were worth $224,310,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of VRRM. Quest Partners LLC boosted its holdings in Verra Mobility by 1,732.7% in the 2nd 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 period. Signaturefd LLC lifted its position in shares of Verra Mobility by 112.4% during the third quarter. Signaturefd LLC now owns 1,060 shares of the company’s stock worth $29,000 after acquiring an additional 561 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of Verra Mobility by 192.0% during the third quarter. First Horizon Advisors Inc. now owns 1,133 shares of the company’s stock worth $32,000 after acquiring an additional 745 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Verra Mobility by 713.5% in the second quarter. Fifth Third Bancorp now owns 3,124 shares of the company’s stock worth $85,000 after acquiring an additional 2,740 shares during the period. Finally, Blue Trust Inc. grew its position in shares of Verra Mobility by 27.5% in the third quarter. Blue Trust Inc. now owns 3,219 shares of the company’s stock valued at $88,000 after purchasing an additional 694 shares in the last quarter.

Analyst Upgrades and Downgrades

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

Verra Mobility Stock Performance

Shares of VRRM opened at $23.71 on Monday. The company has a current ratio of 2.61, a quick ratio of 2.52 and a debt-to-equity ratio of 2.13. The stock has a 50-day moving average price of $25.10 and a 200-day moving average price of $26.74. The company has a market cap 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 12-month low of $20.26 and a 12-month high of $31.03.

Verra Mobility (NASDAQ:VRRM) last announced its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $225.55 million during the quarter, compared to analyst estimates of $226.65 million. Verra Mobility had a net margin of 11.64% and a return on equity of 38.97%. Verra Mobility’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.27 earnings per share. As a group, equities analysts forecast that Verra Mobility Co. will post 1.08 earnings per share for the current fiscal year.

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.