Principal Financial Group Inc. Has $96.04 Million Stock Holdings in Verra Mobility Co. (NASDAQ:VRRM)

Principal Financial Group Inc. lessened its holdings in Verra Mobility Co. (NASDAQ:VRRM) by 7.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,530,767 shares of the company’s stock after selling 285,721 shares during the period. Principal Financial Group Inc. owned 2.12% of Verra Mobility worth $96,037,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Montag A & Associates Inc. grew its holdings in Verra Mobility by 17.1% in the 1st quarter. Montag A & Associates Inc. now owns 3,045 shares of the company’s stock valued at $76,000 after buying an additional 445 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Verra Mobility by 1.3% in the fourth quarter. Franklin Resources Inc. now owns 52,050 shares of the company’s stock valued at $1,199,000 after acquiring an additional 674 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Verra Mobility in the first quarter valued at about $26,000. GAMMA Investing LLC raised its stake in Verra Mobility by 36.2% in the 2nd quarter. GAMMA Investing LLC now owns 4,169 shares of the company’s stock worth $113,000 after purchasing an additional 1,108 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in Verra Mobility by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 83,800 shares of the company’s stock worth $2,279,000 after purchasing an additional 1,400 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts have recently commented on VRRM shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Verra Mobility from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Morgan Stanley raised their price objective on Verra Mobility from $22.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 6th.

Insiders Place Their Bets

In related news, EVP Jonathan Baldwin sold 9,758 shares of Verra Mobility stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $26.14, for a total transaction of $255,074.12. Following the sale, the executive vice president now directly owns 7,673 shares of the company’s stock, valued at approximately $200,572.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Verra Mobility news, EVP Jonathan Baldwin sold 9,758 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $26.14, for a total value of $255,074.12. Following the sale, the executive vice president now owns 7,673 shares in the company, valued at $200,572.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John H. Rexford sold 9,005 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $26.37, for a total transaction of $237,461.85. Following the sale, the director now directly owns 41,275 shares in the company, valued at approximately $1,088,421.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,303 shares of company stock valued at $506,689. 0.96% of the stock is currently owned by corporate insiders.

Verra Mobility Price Performance

VRRM stock opened at $27.61 on Friday. The company’s 50-day moving average price is $28.35 and its two-hundred day moving average price is $25.98. The firm has a market cap of $4.60 billion, a P/E ratio of 55.22, a P/E/G ratio of 2.03 and a beta of 1.27. The company has a quick ratio of 2.64, a current ratio of 2.75 and a debt-to-equity ratio of 2.31. Verra Mobility Co. has a 12 month low of $17.16 and a 12 month high of $31.03.

Verra Mobility (NASDAQ:VRRM) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. Verra Mobility had a net margin of 9.77% and a return on equity of 37.87%. The business had revenue of $222.43 million for the quarter, compared to analysts’ expectations of $220.32 million. During the same period last year, the firm posted $0.27 earnings per share. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, analysts anticipate that Verra Mobility Co. will post 1.09 earnings per share for the current fiscal year.

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.