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

Principal Financial Group Inc. lowered its stake in shares of Verra Mobility Co. (NASDAQ:VRRM) by 28.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,704,783 shares of the company’s stock after selling 1,051,569 shares during the period. Principal Financial Group Inc.’s holdings in Verra Mobility were worth $65,402,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Creative Planning grew its stake 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 in the last quarter. Blue Trust Inc. boosted its holdings in 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 last quarter. Signaturefd LLC grew its position in Verra Mobility by 112.4% in the 3rd quarter. Signaturefd LLC now owns 1,060 shares of the company’s stock worth $29,000 after purchasing an additional 561 shares in the last quarter. New York State Teachers Retirement System increased its stake in Verra Mobility by 5.1% in the 3rd quarter. New York State Teachers Retirement System now owns 63,123 shares of the company’s stock valued at $1,755,000 after buying an additional 3,044 shares during the last quarter. Finally, US Bancorp DE lifted its position in shares of Verra Mobility by 10.3% during the 3rd quarter. US Bancorp DE now owns 4,478 shares of the company’s stock worth $125,000 after buying an additional 418 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on VRRM shares. Robert W. Baird reduced their target price on 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 decreased their target price on Verra Mobility from $26.00 to $25.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Verra Mobility from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Friday, November 1st.

Verra Mobility Price Performance

Shares of NASDAQ VRRM opened at $26.45 on Thursday. 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 stock has a fifty day simple moving average of $25.20 and a two-hundred day simple moving average of $25.74. Verra Mobility Co. has a 1-year low of $20.26 and a 1-year high of $31.03. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 44.08, a price-to-earnings-growth ratio of 2.20 and a beta of 1.24.

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.