Police & Firemen s Retirement System of New Jersey Increases Stake in Parsons Corporation $PSN

Police & Firemen s Retirement System of New Jersey raised its position in Parsons Corporation (NYSE:PSN) by 22.5% in the 2nd quarter, Holdings Channel reports. The fund owned 20,410 shares of the company’s stock after acquiring an additional 3,745 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Parsons were worth $1,465,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Parsons by 8.2% during the first quarter. Vanguard Group Inc. now owns 4,952,299 shares of the company’s stock worth $293,226,000 after purchasing an additional 376,764 shares in the last quarter. Groupama Asset Managment acquired a new position in Parsons during the 1st quarter worth approximately $136,183,000. William Blair Investment Management LLC increased its position in Parsons by 72.5% during the 2nd quarter. William Blair Investment Management LLC now owns 1,889,281 shares of the company’s stock worth $135,594,000 after purchasing an additional 793,807 shares during the period. Mackenzie Financial Corp raised its stake in shares of Parsons by 53.8% during the 1st quarter. Mackenzie Financial Corp now owns 1,084,288 shares of the company’s stock worth $64,201,000 after buying an additional 379,254 shares in the last quarter. Finally, Channing Capital Management LLC lifted its holdings in shares of Parsons by 42.9% in the 1st quarter. Channing Capital Management LLC now owns 1,062,180 shares of the company’s stock valued at $62,892,000 after buying an additional 319,133 shares during the period. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on PSN. Weiss Ratings restated a “hold (c+)” rating on shares of Parsons in a research note on Wednesday, October 8th. UBS Group initiated coverage on shares of Parsons in a report on Wednesday. They issued a “buy” rating and a $107.00 price target for the company. Truist Financial boosted their price objective on shares of Parsons from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. KeyCorp upped their target price on shares of Parsons from $87.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Finally, William Blair upgraded shares of Parsons from a “market perform” rating to an “outperform” rating in a research report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $92.82.

Parsons Price Performance

Shares of NYSE PSN opened at $82.08 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.46. The company’s 50-day moving average price is $83.35 and its 200 day moving average price is $76.35. Parsons Corporation has a 52 week low of $54.56 and a 52 week high of $101.92. The stock has a market cap of $8.74 billion, a price-to-earnings ratio of 37.65, a PEG ratio of 4.31 and a beta of 0.62.

Parsons (NYSE:PSN) last announced its earnings results on Wednesday, November 5th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.12. Parsons had a net margin of 3.69% and a return on equity of 11.98%. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the previous year, the business posted $0.95 earnings per share. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. Parsons has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Parsons Corporation will post 3.58 earnings per share for the current fiscal year.

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.