Ticino Wealth Invests $638,000 in Parsons Corporation $PSN

Ticino Wealth purchased a new position in Parsons Corporation (NYSE:PSN) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 10,325 shares of the company’s stock, valued at approximately $638,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Parsons by 2.6% in the third quarter. Vanguard Group Inc. now owns 5,077,310 shares of the company’s stock worth $421,011,000 after buying an additional 130,694 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Parsons by 10.3% in the 3rd quarter. Artisan Partners Limited Partnership now owns 2,331,921 shares of the company’s stock worth $193,363,000 after buying an additional 217,342 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Parsons by 2.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,682,586 shares of the company’s stock valued at $139,511,000 after buying an additional 45,922 shares during the period. AQR Capital Management LLC lifted its position in shares of Parsons by 151.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,061,614 shares of the company’s stock worth $75,173,000 after purchasing an additional 639,481 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Parsons by 44.7% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,032,760 shares of the company’s stock valued at $85,636,000 after purchasing an additional 318,841 shares during the last quarter. Institutional investors own 98.02% of the company’s stock.

Parsons Trading Up 0.1%

NYSE:PSN opened at $54.99 on Tuesday. The company has a market capitalization of $5.82 billion, a P/E ratio of 24.96, a PEG ratio of 1.74 and a beta of 0.73. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.45. The firm has a fifty day simple moving average of $58.79 and a 200-day simple moving average of $69.47. Parsons Corporation has a 12 month low of $49.38 and a 12 month high of $89.50.

Parsons (NYSE:PSN) last released its quarterly earnings data on Wednesday, February 11th. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.06). Parsons had a net margin of 3.79% and a return on equity of 11.81%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same period last year, the company earned $0.78 earnings per share. The firm’s revenue was down 7.5% on a year-over-year basis. On average, equities research analysts anticipate that Parsons Corporation will post 2.99 earnings per share for the current year.

Analysts Set New Price Targets

PSN has been the topic of a number of recent analyst reports. UBS Group lowered their price target on shares of Parsons from $104.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Jefferies Financial Group reiterated a “hold” rating on shares of Parsons in a research note on Thursday, January 15th. Barclays lowered their target price on shares of Parsons from $78.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. Zacks Research raised shares of Parsons from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Parsons in a research report on Friday, March 27th. Nine research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $78.58.

Parsons Profile

Parsons Corporation (NYSE: PSN) is a technology-driven engineering, construction, technical and professional services firm. The company delivers end-to-end solutions that span feasibility studies, design and engineering, construction management, system integration and ongoing operations support. Parsons serves both government and commercial clients and focuses on critical infrastructure, defense, security, intelligence and environmental programs.

Core services include program and construction management for transportation systems, water and environmental infrastructure, cybersecurity and advanced systems integration.