Principal Financial Group Inc. Grows Holdings in Verra Mobility Co. (NASDAQ:VRRM)

Principal Financial Group Inc. raised its stake in Verra Mobility Co. (NASDAQ:VRRM - Free Report) by 6.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,756,352 shares of the company's stock after acquiring an additional 225,585 shares during the quarter. Principal Financial Group Inc. owned approximately 2.26% of Verra Mobility worth $104,464,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Verra Mobility by 1.3% in the first quarter. Vanguard Group Inc. now owns 17,466,733 shares of the company's stock valued at $436,144,000 after acquiring an additional 231,566 shares during the last quarter. UniSuper Management Pty Ltd purchased a new position in Verra Mobility in the first quarter valued at about $782,000. BNP Paribas Financial Markets boosted its stake in Verra Mobility by 26.7% in the first quarter. BNP Paribas Financial Markets now owns 144,906 shares of the company's stock valued at $3,618,000 after acquiring an additional 30,548 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Verra Mobility by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,180,519 shares of the company's stock valued at $86,512,000 after acquiring an additional 193,686 shares during the last quarter. Finally, Jupiter Asset Management Ltd. boosted its stake in Verra Mobility by 51.5% in the first quarter. Jupiter Asset Management Ltd. now owns 1,083,037 shares of the company's stock valued at $27,043,000 after acquiring an additional 367,976 shares during the last quarter.

Verra Mobility Stock Performance

Shares of NASDAQ VRRM traded up $0.18 during midday trading on Friday, hitting $23.44. The company's stock had a trading volume of 2,558,274 shares, compared to its average volume of 1,244,431. The stock has a fifty day moving average price of $26.60 and a 200 day moving average price of $27.09. Verra Mobility Co. has a one year low of $18.76 and a one year high of $31.03. The company has a current ratio of 2.61, a quick ratio of 2.52 and a debt-to-equity ratio of 2.13. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 39.07, a P/E/G ratio of 2.16 and a beta of 1.27.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, hitting analysts' consensus estimates of $0.32. The business had revenue of $225.55 million for the quarter, compared to analyst estimates of $226.65 million. Verra Mobility had a net margin of 11.64% and a return on equity of 38.97%. Verra Mobility's revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 EPS. On average, research analysts forecast that Verra Mobility Co. will post 1.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

VRRM has been the topic of several research reports. Morgan Stanley lowered their price target on shares of Verra Mobility from $26.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 30th. Robert W. Baird lowered their price target on shares of Verra Mobility from $29.00 to $28.00 and set a "neutral" rating on the stock in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Verra Mobility from $31.00 to $29.00 and set a "buy" rating on the stock in a research report 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.