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

Principal Financial Group Inc. reduced its stake in shares of Verra Mobility Co. (NASDAQ:VRRM) by 28.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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. owned 1.64% of Verra Mobility worth $65,402,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Signaturefd LLC raised its position in shares of 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 acquiring an additional 561 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in Verra Mobility by 192.0% during the 3rd 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 last quarter. Avanza Fonder AB acquired a new position in shares of Verra Mobility in the 4th quarter worth approximately $74,000. Blue Trust Inc. boosted its stake in shares of Verra Mobility by 27.5% in the 3rd quarter. Blue Trust Inc. now owns 3,219 shares of the company’s stock valued at $88,000 after purchasing an additional 694 shares during the last quarter. Finally, US Bancorp DE increased its position in shares of Verra Mobility by 10.3% during the third quarter. US Bancorp DE now owns 4,478 shares of the company’s stock worth $125,000 after buying an additional 418 shares during the period.

Verra Mobility Stock Down 0.4 %

Shares of NASDAQ:VRRM opened at $26.45 on Thursday. 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 52-week low of $20.26 and a 52-week high of $31.03. The business’s 50 day simple moving average is $25.20 and its two-hundred day simple moving average is $25.74. The firm has a market cap of $4.36 billion, a P/E ratio of 44.08, a PEG ratio of 2.20 and a beta of 1.24.

Analysts Set New Price Targets

Several equities research analysts recently commented on VRRM shares. 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. Morgan Stanley lowered their price objective on shares of Verra Mobility from $26.00 to $25.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Verra Mobility from $31.00 to $29.00 and set a “buy” rating on the stock in a research note on Friday, November 1st.

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.