Verra Mobility, Bluedot Unite on EV Charging for Fleets

Verra Mobility Corporation VRRM recently joined forces with Bluedot to enhance charging access for its fleet customers.
Based in Palo Alto, CA, Bluedot is an all-in-one electric vehicle fleet management platform, which automates payments for public charging. It also provides home charging solutions with tracking and reimbursement. Bluedot is present in more than 80% of public charging stations across the United States.
Per the deal, Verra Mobility will provide Bluedot's fleet EV charging solution to its new and existing customers. Bluedot's solution will allow fleet owners to easily charge and manage EVs. With this partnership, Verra Mobility's fleet customers will be able to find, charge and automatically pay for charging at more than 80% of public charging stations in the United States.

Zacks Rank

Verra Mobility currently carries a Zacks Rank #3 (Hold). In the past year, the VRRM stock has gained 39.4% compared with the industry's 10.7% growth.

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Increased travel volume and related tolling activity are aiding Verra Mobility's Commercial Services segment's revenues. The Government Solutions segment's results are buoyed by the expansion of speed programs and school bus stop-arm and bus lane programs. However, increasing selling, general and administrative expenses may affect the company's margins and profitability in the near term.

Stocks to Consider

Some better-ranked companies from the Industrial Products sector are discussed below:
Belden Inc. BDC presently carries a Zacks Rank #2 (Buy) and has a trailing four-quarter earnings surprise of 14.7%, on average.
The Zacks Consensus Estimate for BDC's 2024 earnings has increased 8.3% in the past 60 days. Shares of Belden have gained 1.2% in the past year.
Applied Industrial Technologies, Inc. AIT presently carries a Zacks Rank of 2. It has a trailing four-quarter average earnings surprise of 8.2%.
The consensus estimate for AIT's fiscal 2024 earnings has improved 1.4% in the past 60 days. The stock has risen 39.1% in the past year.
Crane Company CR presently carries a Zacks Rank of 2. CR delivered a trailing four-quarter earnings surprise of 15.2%, on average.
The Zacks Consensus Estimate for CR's 2024 earnings has increased 4.2% in the past 60 days. Its shares have gained 78.9% in the past year.

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