Principal Financial Group Inc. Sells 71,130 Shares of Verra Mobility Corp (NASDAQ:VRRM)

Principal Financial Group Inc. decreased its position in shares of Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,633,653 shares of the company's stock after selling 71,130 shares during the period. Principal Financial Group Inc. owned 1.65% of Verra Mobility worth $59,284,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. American Century Companies Inc. boosted its holdings in Verra Mobility by 2,915.3% in the fourth quarter. American Century Companies Inc. now owns 2,086,049 shares of the company's stock valued at $50,441,000 after purchasing an additional 2,016,866 shares during the last quarter. Norges Bank purchased a new stake in shares of Verra Mobility in the fourth quarter valued at $46,156,000. Sunriver Management LLC purchased a new stake in shares of Verra Mobility during the fourth quarter worth $33,503,000. Westwood Holdings Group Inc. raised its holdings in shares of Verra Mobility by 28.7% during the fourth quarter. Westwood Holdings Group Inc. now owns 4,460,793 shares of the company's stock worth $107,862,000 after acquiring an additional 994,775 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Verra Mobility by 10.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,111,775 shares of the company's stock valued at $220,323,000 after buying an additional 837,648 shares in the last quarter.

Verra Mobility Stock Performance

Verra Mobility stock traded up $0.20 during trading hours on Wednesday, hitting $25.24. The company had a trading volume of 219,321 shares, compared to its average volume of 1,156,980. Verra Mobility Corp has a one year low of $19.51 and a one year high of $31.03. The firm has a 50-day moving average of $24.09 and a 200 day moving average of $23.77. The firm has a market cap of $4.02 billion, a PE ratio of 126.21, a PEG ratio of 2.42 and a beta of 0.77. The company has a debt-to-equity ratio of 3.45, a current ratio of 2.19 and a quick ratio of 2.10.

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on VRRM. Baird R W raised Verra Mobility from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 22nd. Robert W. Baird lifted their target price on Verra Mobility from $27.00 to $28.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. UBS Group decreased their target price on Verra Mobility from $31.50 to $29.50 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, Morgan Stanley decreased their target price on Verra Mobility from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 27th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $27.38.

Insider Activity at Verra Mobility

In other news, insider Jonathan Keyser sold 18,719 shares of the business's stock in a transaction dated 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 directly owned 1,179 shares of the company's stock, valued at $28,626.12. The trade was a 94.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.05% of the stock is currently owned by insiders.

Verra Mobility Company 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.