Prudential Financial Inc. Lowers Stake in Verra Mobility Co. (NASDAQ:VRRM)

Prudential Financial Inc. reduced its position in Verra Mobility Co. (NASDAQ:VRRM) by 1.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 168,354 shares of the company’s stock after selling 2,495 shares during the period. Prudential Financial Inc.’s holdings in Verra Mobility were worth $3,943,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VRRM. Smartleaf Asset Management LLC increased its stake in Verra Mobility by 245.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,309 shares of the company’s stock worth $56,000 after buying an additional 1,640 shares in the last quarter. Avanza Fonder AB purchased a new stake in shares of Verra Mobility during the fourth quarter worth about $74,000. Arcadia Investment Management Corp MI bought a new stake in Verra Mobility during the 4th quarter valued at approximately $129,000. PNC Financial Services Group Inc. lifted its holdings in Verra Mobility by 6.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,381 shares of the company’s stock worth $154,000 after purchasing an additional 409 shares in the last quarter. Finally, KBC Group NV boosted its stake in Verra Mobility by 61.9% in the 4th quarter. KBC Group NV now owns 7,090 shares of the company’s stock worth $171,000 after purchasing an additional 2,710 shares during the period.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley lowered their target price on shares of Verra Mobility from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th.

Verra Mobility Price Performance

NASDAQ:VRRM opened at $23.02 on Wednesday. The business’s 50-day moving average is $23.91 and its 200 day moving average is $24.68. Verra Mobility Co. has a 12 month low of $19.51 and a 12 month high of $31.03. The company has a market capitalization of $3.67 billion, a P/E ratio of 38.37, a P/E/G ratio of 2.18 and a beta of 1.30. The company has a current ratio of 2.61, a quick ratio of 2.52 and a debt-to-equity ratio of 2.13.

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.