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

Norges Bank purchased a new position in shares of Verra Mobility Co. (NASDAQ:VRRM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,908,847 shares of the company’s stock, valued at approximately $46,156,000. Norges Bank owned 1.16% of Verra Mobility at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its position in shares of Verra Mobility by 245.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,309 shares of the company’s stock worth $56,000 after acquiring an additional 1,640 shares during the last quarter. Avanza Fonder AB purchased a new stake in Verra Mobility during the 4th quarter worth approximately $74,000. Arcadia Investment Management Corp MI acquired a new position in shares of Verra Mobility in the 4th quarter valued at approximately $129,000. PNC Financial Services Group Inc. boosted its stake in shares of Verra Mobility by 6.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,381 shares of the company’s stock valued at $154,000 after buying an additional 409 shares during the last quarter. Finally, KBC Group NV grew its position in shares of Verra Mobility by 61.9% during the fourth quarter. KBC Group NV now owns 7,090 shares of the company’s stock worth $171,000 after buying an additional 2,710 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

Verra Mobility Trading Down 3.9 %

NASDAQ:VRRM opened at $22.39 on Friday. The company has a market cap of $3.57 billion, a PE ratio of 37.32, a P/E/G ratio of 2.18 and a beta of 0.91. The business’s 50 day moving average is $23.71 and its two-hundred day moving average is $24.63. The company has a quick ratio of 2.52, a current ratio of 2.61 and a debt-to-equity ratio of 2.13. Verra Mobility Co. has a 52 week low of $19.51 and a 52 week high of $31.03.

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.