Parsons (NYSE:PSN) Director Purchases $959,400.00 in Stock

Parsons Corporation (NYSE:PSN) Director George Ball purchased 20,000 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were purchased at an average price of $47.97 per share, for a total transaction 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 represents a 13.30% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

Parsons Trading Down 0.2%

Shares of NYSE PSN opened at $48.13 on Thursday. Parsons Corporation has a twelve month low of $36.26 and a twelve month high of $89.50. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.54. The stock has a fifty day simple moving average of $53.39 and a 200-day simple moving average of $56.68. The stock has a market capitalization of $5.14 billion, a PE ratio of 33.19, a PEG ratio of 3.65 and a beta of 0.68.

Parsons (NYSE:PSN) last posted its earnings results on Wednesday, July 29th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the company posted $0.78 EPS. Parsons’s revenue was down .5% on a year-over-year basis. On average, equities analysts forecast that Parsons Corporation will post 2.29 earnings per share for the current year.

Institutional Investors Weigh In On Parsons

A number of large investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio lifted its holdings in Parsons by 0.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 17,029 shares of the company’s stock worth $1,412,000 after buying an additional 144 shares during the last quarter. Kennedy Capital Management LLC raised its position in shares of Parsons by 0.4% during the 4th quarter. Kennedy Capital Management LLC now owns 47,680 shares of the company’s stock worth $2,947,000 after acquiring an additional 194 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Parsons by 38.0% during the first quarter. NewEdge Advisors LLC now owns 959 shares of the company’s stock worth $57,000 after purchasing an additional 264 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Parsons by 2.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 10,900 shares of the company’s stock valued at $590,000 after purchasing an additional 300 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in Parsons by 183.6% in the second quarter. Versant Capital Management Inc now owns 553 shares of the company’s stock valued at $29,000 after purchasing an additional 358 shares during the last quarter. 98.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PSN. The Goldman Sachs Group dropped their price objective on shares of Parsons from $69.00 to $60.00 and set a “neutral” rating for the company in a report on Monday, August 3rd. Stifel Nicolaus decreased their price target on shares of Parsons from $79.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Jefferies Financial Group upgraded shares of Parsons from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Sunday, August 2nd. BNP Paribas Exane set a $65.00 price objective on Parsons and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Finally, Barclays reduced their price objective on Parsons from $70.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, July 30th. Ten equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $64.33.

Parsons Company 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.