Norges Bank Invests $46.16 Million in Verra Mobility Co. (NASDAQ:VRRM)

Norges Bank purchased a new position in Verra Mobility Co. (NASDAQ:VRRM - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,908,847 shares of the company's stock, valued at approximately $46,156,000. Norges Bank owned about 1.16% of Verra Mobility as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of VRRM. American Century Companies Inc. boosted its position in Verra Mobility by 2,915.3% during the 4th quarter. American Century Companies Inc. now owns 2,086,049 shares of the company's stock worth $50,441,000 after acquiring an additional 2,016,866 shares during the period. Wellington Management Group LLP raised its holdings in Verra Mobility by 13.2% during the third quarter. Wellington Management Group LLP now owns 8,065,795 shares of the company's stock valued at $224,310,000 after buying an additional 941,127 shares in the last quarter. State Street Corp lifted its holdings in Verra Mobility by 6.0% in the 3rd quarter. State Street Corp now owns 6,301,131 shares of the company's stock worth $175,234,000 after purchasing an additional 357,078 shares during the last quarter. DAVENPORT & Co LLC lifted its stake in shares of Verra Mobility by 17.9% in the fourth quarter. DAVENPORT & Co LLC now owns 1,603,342 shares of the company's stock worth $38,641,000 after buying an additional 243,723 shares during the last quarter. Finally, Barclays PLC lifted its position in Verra Mobility by 400.2% during the 3rd quarter. Barclays PLC now owns 294,457 shares of the company's stock worth $8,189,000 after acquiring an additional 235,589 shares during the last quarter.

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Wall Street Analyst Weigh In

Separately, Morgan Stanley reduced their price objective on Verra Mobility from $25.00 to $23.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th.

Verra Mobility Price Performance

Shares of NASDAQ:VRRM traded down $0.65 during midday trading on Tuesday, reaching $21.04. 495,349 shares of the company's stock were exchanged, compared to its average volume of 1,132,997. The firm has a market capitalization of $3.36 billion, a PE ratio of 35.03, a price-to-earnings-growth ratio of 2.18 and a beta of 0.91. The company's 50 day simple moving average is $23.60 and its two-hundred day simple moving average is $24.55. Verra Mobility Co. has a 12 month low of $19.51 and a 12 month high of $31.03. The company has a debt-to-equity ratio of 2.13, a quick ratio of 2.52 and a current ratio of 2.61.

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.