Principal Financial Group Inc. boosted its holdings in shares of Verra Mobility Co. (NASDAQ:VRRM - Free Report) by 6.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,756,352 shares of the company's stock after acquiring an additional 225,585 shares during the period. Principal Financial Group Inc. owned approximately 2.26% of Verra Mobility worth $104,464,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new position in shares of Verra Mobility during the 1st quarter valued at about $26,000. Quest Partners LLC raised its holdings in Verra Mobility by 1,732.7% during the 2nd quarter. Quest Partners LLC now owns 1,008 shares of the company's stock worth $27,000 after buying an additional 953 shares during the period. Signaturefd LLC lifted its stake in Verra Mobility by 112.4% in the third quarter. Signaturefd LLC now owns 1,060 shares of the company's stock valued at $29,000 after buying an additional 561 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in shares of Verra Mobility in the first quarter valued at approximately $74,000. Finally, Montag A & Associates Inc. increased its position in shares of Verra Mobility by 17.1% during the first quarter. Montag A & Associates Inc. now owns 3,045 shares of the company's stock worth $76,000 after acquiring an additional 445 shares in the last quarter.
VRRM has been the topic of several research reports. Robert W. Baird cut their price objective on shares of Verra Mobility from $29.00 to $28.00 and set a "neutral" rating on the stock in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft reduced their price objective on Verra Mobility from $31.00 to $29.00 and set a "buy" rating for the company in a research report on Friday, November 1st. Finally, Morgan Stanley dropped their target price 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.
Get Our Latest Stock Analysis on Verra Mobility
Verra Mobility stock opened at $23.44 on Friday. The company has a fifty day simple moving average of $26.60 and a 200 day simple moving average of $27.09. The company has a current ratio of 2.61, a quick ratio of 2.52 and a debt-to-equity ratio of 2.13. Verra Mobility Co. has a 1-year low of $18.76 and a 1-year high of $31.03. The company has a market cap of $3.86 billion, a P/E ratio of 39.07, a price-to-earnings-growth ratio of 1.49 and a beta of 1.27.
Verra Mobility (NASDAQ:VRRM - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. Verra Mobility had a return on equity of 38.97% and a net margin of 11.64%. The company had revenue of $225.55 million during the quarter, compared to analysts' expectations of $226.65 million. During the same quarter last year, the company earned $0.27 EPS. Verra Mobility's revenue for the quarter was up 7.4% compared to the same quarter last year. Research analysts anticipate that Verra Mobility Co. will post 1.07 earnings per share for the current fiscal year.
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.
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