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

Principal Financial Group Inc. lifted its stake in Verra Mobility Co. (NASDAQ:VRRM - Free Report) by 6.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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 approximately 2.28% of Verra Mobility worth $104,464,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of VRRM. Quest Partners LLC grew its position in shares of Verra Mobility by 1,732.7% in the 2nd quarter. Quest Partners LLC now owns 1,008 shares of the company's stock valued at $27,000 after buying an additional 953 shares during the last quarter. Signaturefd LLC grew its position in shares of Verra Mobility by 112.4% in the 3rd quarter. Signaturefd LLC now owns 1,060 shares of the company's stock valued at $29,000 after buying an additional 561 shares during the last quarter. First Horizon Advisors Inc. grew its position in shares of Verra Mobility by 192.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,133 shares of the company's stock valued at $32,000 after buying an additional 745 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Verra Mobility by 713.5% in the 2nd quarter. Fifth Third Bancorp now owns 3,124 shares of the company's stock valued at $85,000 after buying an additional 2,740 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Verra Mobility by 27.5% during the 3rd quarter. Blue Trust Inc. now owns 3,219 shares of the company's stock worth $88,000 after purchasing an additional 694 shares during the period.

Analyst Ratings Changes

VRRM has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Verra Mobility from $31.00 to $29.00 and set a "buy" rating for the company in a research note on Friday, November 1st. Robert W. Baird decreased their price target on shares of Verra Mobility from $29.00 to $28.00 and set a "neutral" rating for the company in a research note on Friday, November 1st. Finally, Morgan Stanley decreased 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.

Verra Mobility Price Performance

Shares of NASDAQ VRRM traded up $0.02 during midday trading on Friday, hitting $23.66. The company had a trading volume of 2,581,472 shares, compared to its average volume of 1,101,189. 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 twelve month low of $20.26 and a twelve month high of $31.03. The business has a 50-day simple moving average of $24.41 and a two-hundred day simple moving average of $26.53. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of 39.43, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.32 EPS for the quarter, meeting the consensus estimate 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 during the quarter, compared to analysts' expectations of $226.65 million. During the same quarter last year, the business earned $0.27 earnings per share. The business's revenue for the quarter was up 7.4% compared to the same quarter last year. Equities research analysts anticipate that Verra Mobility Co. will post 1.08 earnings per share for the current year.

Verra Mobility Profile

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.