Verra Mobility Co. (NASDAQ:VRRM) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in shares of Verra Mobility Co. (NASDAQ:VRRM - Free Report) by 6.4% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 3,756,352 shares of the company's stock after buying an additional 225,585 shares during the period. Principal Financial Group Inc. owned about 2.28% of Verra Mobility worth $104,464,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Wellington Management Group LLP raised its position in Verra Mobility by 13.2% during the third quarter. Wellington Management Group LLP now owns 8,065,795 shares of the company's stock valued at $224,310,000 after acquiring an additional 941,127 shares in the last quarter. State Street Corp grew its stake in shares of Verra Mobility by 6.0% during the 3rd quarter. State Street Corp now owns 6,301,131 shares of the company's stock worth $175,234,000 after purchasing an additional 357,078 shares during the period. Handelsbanken Fonder AB increased its holdings in shares of Verra Mobility by 7.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 4,015,800 shares of the company's stock valued at $111,679,000 after purchasing an additional 261,500 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Verra Mobility by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,904,750 shares of the company's stock valued at $108,612,000 after purchasing an additional 17,688 shares during the period. Finally, Westwood Holdings Group Inc. boosted its holdings in Verra Mobility by 7.0% during the second quarter. Westwood Holdings Group Inc. now owns 3,380,416 shares of the company's stock worth $91,947,000 after buying an additional 221,385 shares in the last quarter.

Verra Mobility Price Performance

VRRM traded up $0.02 during midday trading on Friday, hitting $23.66. 2,581,472 shares of the company traded hands, compared to its average volume of 1,101,189. The business has a 50 day simple moving average of $24.41 and a two-hundred day simple moving average of $26.53. Verra Mobility Co. has a 52-week low of $20.26 and a 52-week high of $31.03. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of 39.43, a PEG ratio of 2.12 and a beta of 1.23. The company has a current ratio of 2.61, a quick ratio of 2.52 and a debt-to-equity ratio of 2.13.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, meeting analysts' consensus estimates of $0.32. Verra Mobility had a net margin of 11.64% and a return on equity of 38.97%. The firm had revenue of $225.55 million for the quarter, compared to analyst estimates of $226.65 million. During the same period last year, the company posted $0.27 EPS. Verra Mobility's quarterly revenue was up 7.4% compared to the same quarter last year. On average, equities analysts forecast that Verra Mobility Co. will post 1.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Robert W. Baird cut 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. Deutsche Bank Aktiengesellschaft cut their price target on Verra Mobility from $31.00 to $29.00 and set a "buy" rating for the company in a research note on Friday, November 1st. Finally, Morgan Stanley lowered their price target on 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.

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.