Franklin Resources Inc. Grows Holdings in Verra Mobility Co. (NASDAQ:VRRM)

Franklin Resources Inc. raised its holdings in Verra Mobility Co. (NASDAQ:VRRM - Free Report) by 13.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,814,342 shares of the company's stock after buying an additional 219,071 shares during the quarter. Franklin Resources Inc. owned about 1.10% of Verra Mobility worth $48,987,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in shares of Verra Mobility by 6.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,180,519 shares of the company's stock valued at $86,512,000 after acquiring an additional 193,686 shares in the last quarter. Barclays PLC increased its stake in Verra Mobility by 400.2% during the 3rd quarter. Barclays PLC now owns 294,457 shares of the company's stock valued at $8,189,000 after purchasing an additional 235,589 shares in the last quarter. State Street Corp increased its stake in Verra Mobility by 6.0% during the 3rd quarter. State Street Corp now owns 6,301,131 shares of the company's stock valued at $175,234,000 after purchasing an additional 357,078 shares in the last quarter. Braun Stacey Associates Inc. raised its holdings in shares of Verra Mobility by 148.0% in the third 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. Finally, Citigroup Inc. lifted its stake in shares of Verra Mobility by 73.0% during the third quarter. Citigroup Inc. now owns 222,910 shares of the company's stock worth $6,199,000 after buying an additional 94,073 shares during the period.

Wall Street Analysts Forecast Growth

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

Verra Mobility Stock Performance

NASDAQ:VRRM traded down $0.60 during mid-day trading on Wednesday, hitting $23.36. The company's stock had a trading volume of 1,446,413 shares, compared to its average volume of 1,095,064. The business's fifty day moving average is $24.55 and its two-hundred day moving average is $26.57. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 38.93, a PEG ratio of 2.12 and a beta of 1.23. The company has a debt-to-equity ratio of 2.13, a current ratio of 2.61 and a quick ratio of 2.52. Verra Mobility Co. has a 1 year low of $20.26 and a 1 year high of $31.03.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, hitting analysts' consensus estimates of $0.32. The firm had revenue of $225.55 million for the quarter, compared to the consensus estimate of $226.65 million. Verra Mobility had a return on equity of 38.97% and a net margin of 11.64%. The company's revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 earnings per share. Analysts anticipate that Verra Mobility Co. will post 1.08 EPS for the current fiscal year.

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.