Savant Capital LLC Buys 14,670 Shares of Parsons Corporation $PSN

Savant Capital LLC grew its holdings in Parsons Corporation (NYSE:PSN) by 135.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,528 shares of the company’s stock after purchasing an additional 14,670 shares during the period. Savant Capital LLC’s holdings in Parsons were worth $1,832,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Envestnet Asset Management Inc. raised its holdings in shares of Parsons by 4.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 157,001 shares of the company’s stock valued at $9,296,000 after buying an additional 6,404 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of Parsons by 25.6% during the 1st quarter. New York State Common Retirement Fund now owns 352,246 shares of the company’s stock valued at $20,856,000 after purchasing an additional 71,740 shares in the last quarter. CWM LLC grew its holdings in shares of Parsons by 2.1% during the 1st quarter. CWM LLC now owns 7,810 shares of the company’s stock worth $462,000 after acquiring an additional 163 shares during the period. Edgestream Partners L.P. grew its stake in Parsons by 322.0% in the first quarter. Edgestream Partners L.P. now owns 53,706 shares of the company’s stock worth $3,180,000 after purchasing an additional 40,980 shares during the period. Finally, Signaturefd LLC increased its stake in shares of Parsons by 63.1% in the 1st quarter. Signaturefd LLC now owns 610 shares of the company’s stock worth $36,000 after acquiring an additional 236 shares in the last quarter. 98.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Robert W. Baird raised their price objective on shares of Parsons from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Zacks Research upgraded shares of Parsons from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. Truist Financial increased their target price on shares of Parsons from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Parsons in a research note on Wednesday, October 8th. Finally, KeyCorp lifted their price target on shares of Parsons from $87.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.40.

Parsons Stock Up 0.8%

NYSE:PSN opened at $86.58 on Wednesday. Parsons Corporation has a fifty-two week low of $54.56 and a fifty-two week high of $114.19. The company’s 50-day simple moving average is $82.25 and its 200-day simple moving average is $75.64. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.67 and a current ratio of 1.67. The stock has a market capitalization of $9.22 billion, a P/E ratio of 39.72, a P/E/G ratio of 4.51 and a beta of 0.62.

Parsons (NYSE:PSN) last released its earnings results on Wednesday, November 5th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.12. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Parsons had a net margin of 3.69% and a return on equity of 11.98%. Parsons’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period last year, the business earned $0.95 EPS. Parsons has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Parsons Corporation will post 3.58 earnings per share for the current fiscal year.

Parsons Company Profile

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.