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

Principal Financial Group Inc. boosted its position in Verra Mobility Co. (NASDAQ:VRRM) by 6.4% in the 3rd 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 buying an additional 225,585 shares during the quarter. Principal Financial Group Inc. owned approximately 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 recently bought and sold shares of the company. 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 worth $27,000 after acquiring an additional 953 shares in the last quarter. Signaturefd LLC lifted its stake in Verra Mobility by 112.4% during 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 last quarter. First Horizon Advisors Inc. boosted its holdings in Verra Mobility by 192.0% in the third quarter. First Horizon Advisors Inc. now owns 1,133 shares of the company’s stock worth $32,000 after purchasing an additional 745 shares during the period. Fifth Third Bancorp increased its stake in Verra Mobility by 713.5% during the second quarter. Fifth Third Bancorp now owns 3,124 shares of the company’s stock valued at $85,000 after purchasing an additional 2,740 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Verra Mobility by 27.5% during the third 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.

Verra Mobility Stock Up 0.1 %

Verra Mobility stock opened at $23.66 on Friday. The company has a debt-to-equity ratio of 2.13, a quick ratio of 2.52 and a current ratio of 2.61. Verra Mobility Co. has a one year low of $20.26 and a one year high of $31.03. The company has a 50-day simple moving average of $24.48 and a 200-day simple moving average of $26.55. The firm has a market capitalization of $3.90 billion, a P/E ratio of 39.43, a P/E/G ratio of 2.12 and a beta of 1.23.

Verra Mobility (NASDAQ:VRRM) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The company 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% compared to the same quarter last year. During the same quarter last year, the business earned $0.27 earnings per share. As a group, equities analysts expect that Verra Mobility Co. will post 1.08 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on VRRM. 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 report on Friday, November 1st. Robert W. Baird decreased their target price on 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 dropped 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.

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.