Moore Capital Management LP cut its stake in Parsons Corporation (NYSE:PSN – Free Report) by 84.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,951 shares of the company’s stock after selling 133,636 shares during the quarter. Moore Capital Management LP’s holdings in Parsons were worth $1,307,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its stake in shares of Parsons by 0.9% in the third quarter. Public Employees Retirement System of Ohio now owns 17,029 shares of the company’s stock valued at $1,412,000 after buying an additional 144 shares during the period. Kennedy Capital Management LLC increased its stake in shares of Parsons by 0.4% in the fourth quarter. Kennedy Capital Management LLC now owns 47,680 shares of the company’s stock worth $2,947,000 after purchasing an additional 194 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Parsons by 38.0% in the first quarter. NewEdge Advisors LLC now owns 959 shares of the company’s stock valued at $57,000 after purchasing an additional 264 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of Parsons by 2.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 10,900 shares of the company’s stock valued at $590,000 after buying an additional 300 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Parsons by 183.6% during the second quarter. Versant Capital Management Inc now owns 553 shares of the company’s stock worth $29,000 after acquiring an additional 358 shares in the last quarter. 98.02% of the stock is owned by institutional investors.
Insider Activity
In other Parsons news, Director George L. Ball bought 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were bought at an average cost of $47.97 per share, with a total value of $959,400.00. Following the completion of the purchase, the director directly owned 170,383 shares of the company’s stock, valued at $8,173,272.51. This trade represents a 13.30% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.31% of the stock is owned by insiders.
Parsons Trading Down 0.8%
Parsons (NYSE:PSN – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.82). Parsons had a return on equity of 8.10% and a net margin of 2.50%.The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the business earned $0.78 EPS. Parsons’s revenue was down .5% on a year-over-year basis. On average, research analysts predict that Parsons Corporation will post 2.29 earnings per share for the current year.
Wall Street Analyst Weigh In
PSN has been the topic of a number of recent analyst reports. Robert W. Baird raised shares of Parsons from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $48.00 to $57.00 in a report on Friday, August 21st. BNP Paribas Exane set a $65.00 target price on shares of Parsons and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Barclays lowered their price objective on Parsons from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. Jefferies Financial Group upgraded Parsons from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Sunday, August 2nd. Finally, UBS Group lowered their price target on Parsons from $67.00 to $58.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Eleven analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $64.08.
View Our Latest Research Report on Parsons
About Parsons
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.
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