Lord Abbett & CO. LLC Sells 652,341 Shares of Verra Mobility Co. (NASDAQ:VRRM)

Lord Abbett & CO. LLC trimmed its stake in Verra Mobility Co. (NASDAQ:VRRM) by 35.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,203,662 shares of the company’s stock after selling 652,341 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Verra Mobility were worth $33,474,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Quest Partners LLC lifted its stake in Verra Mobility by 1,732.7% in 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. Signaturefd LLC lifted its position in shares of Verra Mobility by 112.4% during the 3rd quarter. Signaturefd LLC now owns 1,060 shares of the company’s stock valued at $29,000 after buying an additional 561 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of Verra Mobility by 192.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,133 shares of the company’s stock worth $32,000 after acquiring an additional 745 shares during the period. Fifth Third Bancorp increased its holdings in 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 acquiring an additional 2,740 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in Verra Mobility by 27.5% in the 3rd quarter. Blue Trust Inc. now owns 3,219 shares of the company’s stock valued at $88,000 after acquiring an additional 694 shares during the period.

Wall Street Analysts Forecast Growth

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

Verra Mobility Trading Down 0.9 %

Shares of VRRM opened at $23.79 on Friday. Verra Mobility Co. has a twelve month low of $20.26 and a twelve month high of $31.03. The stock has a market cap of $3.92 billion, a PE ratio of 39.65, a P/E/G ratio of 2.12 and a beta of 1.23. The company has a quick ratio of 2.52, a current ratio of 2.61 and a debt-to-equity ratio of 2.13. The business’s 50-day moving average price is $24.76 and its 200-day moving average price is $26.63.

Verra Mobility (NASDAQ:VRRM) last posted its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share 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 business had revenue of $225.55 million for the quarter, compared to analyst estimates of $226.65 million. During the same quarter in the prior year, the firm posted $0.27 EPS. Verra Mobility’s revenue was up 7.4% on a year-over-year basis. On average, equities analysts forecast that Verra Mobility Co. will post 1.08 EPS for the current fiscal year.

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.