SG Americas Securities LLC trimmed its holdings in shares of Parsons Corporation (NYSE:PSN – Free Report) by 70.2% during the first quarter, HoldingsChannel reports. The firm owned 9,249 shares of the company’s stock after selling 21,784 shares during the quarter. SG Americas Securities LLC’s holdings in Parsons were worth $501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently added to or reduced their stakes in the stock. Artisan Partners Limited Partnership increased its holdings in Parsons by 6.2% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,477,159 shares of the company’s stock worth $153,088,000 after buying an additional 145,238 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Parsons by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,712,937 shares of the company’s stock valued at $105,863,000 after acquiring an additional 30,351 shares during the last quarter. Channing Capital Management LLC grew its position in shares of Parsons by 16.8% during the 4th quarter. Channing Capital Management LLC now owns 1,484,039 shares of the company’s stock valued at $91,714,000 after acquiring an additional 213,312 shares during the period. AQR Capital Management LLC grew its position in shares of Parsons by 151.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,061,614 shares of the company’s stock valued at $75,173,000 after acquiring an additional 639,481 shares during the period. Finally, Swedbank AB increased its stake in shares of Parsons by 654.7% during the 4th quarter. Swedbank AB now owns 1,052,541 shares of the company’s stock worth $65,047,000 after purchasing an additional 913,079 shares during the last quarter. Institutional investors own 98.02% of the company’s stock.
Insider Transactions at Parsons
In related news, CEO Carey A. Smith purchased 12,500 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was purchased at an average cost of $49.97 per share, with a total value of $624,625.00. Following the completion of the acquisition, the chief executive officer directly owned 575,376 shares of the company’s stock, valued at approximately $28,751,538.72. The trade was a 2.22% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark Keith Holdsworth purchased 10,000 shares of Parsons stock in a transaction dated Tuesday, May 12th. The stock was bought at an average price of $51.27 per share, with a total value of $512,700.00. Following the completion of the transaction, the director owned 39,918 shares of the company’s stock, valued at $2,046,595.86. This represents a 33.42% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 32,500 shares of company stock valued at $1,637,325 over the last three months. Company insiders own 1.31% of the company’s stock.
Wall Street Analyst Weigh In
Read Our Latest Stock Report on PSN
Parsons Stock Performance
Shares of PSN stock opened at $56.74 on Thursday. The stock has a market capitalization of $6.07 billion, a P/E ratio of 27.15, a PEG ratio of 1.78 and a beta of 0.66. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.55. The firm’s 50 day moving average is $53.94 and its 200 day moving average is $59.18. Parsons Corporation has a 12 month low of $46.88 and a 12 month high of $89.50.
Parsons (NYSE:PSN – Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.09. Parsons had a net margin of 3.62% and a return on equity of 11.52%. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the business earned $0.60 EPS. Parsons’s revenue was down 4.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Parsons Corporation will post 2.97 earnings per share for the current year.
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.
Further Reading
- Five stocks we like better than Parsons
- A Market Panic Just Discounted the AI Highway’s Tollbooth
- Why Exxon Could Be the Market’s Next Big Comeback Stock
- The Market Just Got Shaken—These 3 ETFs May Come Out Stronger
- Meta Platforms’ Cloud Push: Growth Opportunity Versus AI Concerns
Want to see what other hedge funds are holding PSN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parsons Corporation (NYSE:PSN – Free Report).
Receive News & Ratings for Parsons Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parsons and related companies with MarketBeat.com's FREE daily email newsletter.
