Fox Run Management L.L.C. Trims Stock Holdings in Parsons Corporation (NYSE:PSN)

Fox Run Management L.L.C. decreased its position in Parsons Corporation (NYSE:PSN) by 17.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,677 shares of the company’s stock after selling 3,207 shares during the period. Fox Run Management L.L.C.’s holdings in Parsons were worth $869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc purchased a new position in shares of Parsons during the 1st quarter valued at about $27,000. Quarry LP acquired a new stake in Parsons in the 4th quarter worth about $30,000. UMB Bank n.a. lifted its stake in Parsons by 238.7% in the 1st quarter. UMB Bank n.a. now owns 552 shares of the company’s stock worth $33,000 after purchasing an additional 389 shares in the last quarter. Fifth Third Bancorp lifted its stake in Parsons by 1,803.4% in the 1st quarter. Fifth Third Bancorp now owns 552 shares of the company’s stock worth $33,000 after purchasing an additional 523 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in Parsons by 63.1% in the first quarter. Signaturefd LLC now owns 610 shares of the company’s stock valued at $36,000 after acquiring an additional 236 shares during the last quarter. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Analyst Ratings Changes

PSN has been the topic of a number of research analyst reports. Raymond James Financial raised Parsons from a “market perform” rating to a “strong-buy” rating and set a $90.00 target price on the stock in a research report on Tuesday, July 8th. Bank of America lowered their target price on shares of Parsons from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Tuesday, June 3rd. KeyCorp restated an “overweight” rating and issued a $84.00 price objective (up previously from $82.00) on shares of Parsons in a research note on Thursday, August 7th. Truist Financial upped their target price on shares of Parsons from $80.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Finally, Robert W. Baird raised Parsons from a “neutral” rating to an “outperform” rating and raised their price target for the company from $78.00 to $92.00 in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $88.70.

Parsons Stock Down 0.1%

Shares of NYSE PSN opened at $79.54 on Friday. Parsons Corporation has a 1 year low of $54.56 and a 1 year high of $114.68. The firm’s 50 day moving average price is $73.74 and its 200 day moving average price is $68.05. The firm has a market cap of $8.49 billion, a P/E ratio of 35.51, a price-to-earnings-growth ratio of 4.20 and a beta of 0.58. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.61 and a current ratio of 1.61.

Parsons (NYSE:PSN) last announced its earnings results on Wednesday, August 6th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. Parsons had a net margin of 3.70% and a return on equity of 12.36%. Parsons’s revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.84 earnings per share. As a group, sell-side analysts anticipate that Parsons Corporation will post 3.58 earnings per share for the current year.

About Parsons

Parsons Corporation provides integrated solutions and services in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. The company operates through Federal Solutions and Critical Infrastructure segments. The Federal Solutions segment provides critical technologies, such as cybersecurity; missile defense; intelligence; space launch and ground systems; space and weapon system resiliency; geospatial intelligence; signals intelligence; environmental remediation; border security, critical infrastructure protection; counter unmanned air systems; biometrics and bio surveillance solutions to U.S.