Principal Financial Group Inc. Lowers Stake in Verra Mobility Corp (NASDAQ:VRRM)

Principal Financial Group Inc. lowered its stake in Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 2.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,633,653 shares of the company's stock after selling 71,130 shares during the period. Principal Financial Group Inc. owned about 1.65% of Verra Mobility worth $59,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of VRRM. Smartleaf Asset Management LLC raised its position in Verra Mobility by 245.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,309 shares of the company's stock valued at $56,000 after purchasing an additional 1,640 shares in the last quarter. Aster Capital Management DIFC Ltd raised its position in Verra Mobility by 585.1% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 4,720 shares of the company's stock valued at $114,000 after purchasing an additional 4,031 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Verra Mobility by 6.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,381 shares of the company's stock valued at $154,000 after purchasing an additional 409 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Verra Mobility in the 4th quarter valued at about $228,000. Finally, Hancock Whitney Corp acquired a new stake in Verra Mobility in the 4th quarter valued at about $241,000.

Insider Buying and Selling

In related news, insider Jonathan Keyser sold 18,719 shares of the stock in a transaction on Friday, May 9th. The shares were sold at an average price of $24.28, for a total transaction of $454,497.32. Following the completion of the sale, the insider owned 1,179 shares in the company, valued at $28,626.12. This represents a 94.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.05% of the stock is currently owned by company insiders.

Verra Mobility Stock Up 0.4%

VRRM stock traded up $0.11 during midday trading on Friday, reaching $25.64. 339,400 shares of the company were exchanged, compared to its average volume of 1,162,205. The company has a debt-to-equity ratio of 3.45, a quick ratio of 2.10 and a current ratio of 2.19. Verra Mobility Corp has a 1-year low of $19.51 and a 1-year high of $31.03. The stock's 50-day simple moving average is $23.97 and its 200 day simple moving average is $23.75. The company has a market cap of $4.09 billion, a price-to-earnings ratio of 128.18, a price-to-earnings-growth ratio of 2.46 and a beta of 0.77.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.01. Verra Mobility had a net margin of 3.88% and a return on equity of 51.05%. The company had revenue of $223.25 million for the quarter, compared to analysts' expectations of $216.94 million. During the same quarter last year, the company earned $0.27 earnings per share. The firm's revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities analysts forecast that Verra Mobility Corp will post 1.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Morgan Stanley dropped their price objective on Verra Mobility from $25.00 to $23.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th. Robert W. Baird raised their price objective on shares of Verra Mobility from $27.00 to $28.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Baird R W raised shares of Verra Mobility from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 22nd. Finally, UBS Group cut their price objective on shares of Verra Mobility from $31.50 to $29.50 and set a "buy" rating on the stock in a report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $27.38.

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.