Parsons Corporation $PSN Shares Sold by Blair William & Co. IL

Blair William & Co. IL reduced its stake in shares of Parsons Corporation (NYSE:PSN) by 76.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 39,040 shares of the company’s stock after selling 125,321 shares during the period. Blair William & Co. IL’s holdings in Parsons were worth $2,802,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS grew its position in Parsons by 7.9% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 10,900 shares of the company’s stock worth $782,000 after purchasing an additional 800 shares during the period. LBP AM SA acquired a new stake in Parsons during the 2nd quarter worth about $202,000. TCI Wealth Advisors Inc. acquired a new stake in Parsons during the 2nd quarter worth about $2,373,000. Public Employees Retirement System of Ohio grew its position in Parsons by 16.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 16,885 shares of the company’s stock worth $1,212,000 after purchasing an additional 2,325 shares during the period. Finally, GAMMA Investing LLC grew its position in Parsons by 23.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,277 shares of the company’s stock worth $92,000 after purchasing an additional 239 shares during the period. 98.02% of the stock is owned by institutional investors and hedge funds.

Parsons Trading Up 0.6%

PSN stock opened at $86.39 on Tuesday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.47. Parsons Corporation has a 12-month low of $54.56 and a 12-month high of $114.68. The stock has a market cap of $9.23 billion, a price-to-earnings ratio of 38.57, a PEG ratio of 4.51 and a beta of 0.64. The business’s 50-day moving average is $80.39 and its 200 day moving average is $72.51.

Parsons (NYSE:PSN) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.04. Parsons had a return on equity of 12.36% and a net margin of 3.70%.The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period in the previous year, the firm posted $0.84 EPS. Parsons’s revenue was down 5.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Parsons Corporation will post 3.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Stifel Nicolaus initiated coverage on Parsons in a research report on Tuesday, June 24th. They set a “buy” rating and a $81.00 price target on the stock. Zacks Research upgraded Parsons from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. Raymond James Financial upgraded 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. Weiss Ratings restated a “hold (c+)” rating on shares of Parsons in a research report on Wednesday, October 8th. Finally, Truist Financial raised their target price on Parsons from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $90.80.

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.