Principal Financial Group Inc. Has $65.40 Million Position in Verra Mobility Co. (NASDAQ:VRRM)

Principal Financial Group Inc. reduced its stake in shares of Verra Mobility Co. (NASDAQ:VRRM - Free Report) by 28.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,704,783 shares of the company's stock after selling 1,051,569 shares during the quarter. Principal Financial Group Inc. owned 1.64% of Verra Mobility worth $65,402,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of VRRM. Creative Planning lifted its position in shares of Verra Mobility by 35.2% in the 3rd quarter. Creative Planning now owns 23,410 shares of the company's stock worth $651,000 after acquiring an additional 6,093 shares during the period. Blue Trust Inc. raised its stake in shares of Verra Mobility by 27.5% in the third quarter. Blue Trust Inc. now owns 3,219 shares of the company's stock valued at $88,000 after purchasing an additional 694 shares in the last quarter. Signaturefd LLC lifted its position in Verra Mobility by 112.4% in the third quarter. Signaturefd LLC now owns 1,060 shares of the company's stock worth $29,000 after purchasing an additional 561 shares during the period. New York State Teachers Retirement System boosted its stake in Verra Mobility by 5.1% during the third quarter. New York State Teachers Retirement System now owns 63,123 shares of the company's stock worth $1,755,000 after buying an additional 3,044 shares in the last quarter. Finally, US Bancorp DE increased its holdings in Verra Mobility by 10.3% in the 3rd quarter. US Bancorp DE now owns 4,478 shares of the company's stock valued at $125,000 after buying an additional 418 shares during the period.

Verra Mobility Price Performance

Shares of VRRM traded down $0.41 during trading hours on Friday, hitting $25.72. The stock had a trading volume of 506,530 shares, compared to its average volume of 929,541. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 42.87, a P/E/G ratio of 2.21 and a beta of 1.24. The company has a debt-to-equity ratio of 2.13, a current ratio of 2.61 and a quick ratio of 2.52. The company's fifty day moving average is $25.24 and its two-hundred day moving average is $25.74. Verra Mobility Co. has a 52 week low of $20.26 and a 52 week high of $31.03.

Analyst Ratings Changes

A number of research firms have recently commented on VRRM. Robert W. Baird reduced their price objective on shares of Verra Mobility from $29.00 to $28.00 and set a "neutral" rating for the company in a report on Friday, November 1st. Morgan Stanley cut their price target on shares of Verra Mobility from $26.00 to $25.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Verra Mobility from $31.00 to $29.00 and set a "buy" rating on the stock in a research note on Friday, November 1st.

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.