Keybank National Association OH Purchases 127,193 Shares of Parsons Corporation $PSN

Keybank National Association OH increased its stake in Parsons Corporation (NYSE:PSN) by 61.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 333,655 shares of the company’s stock after purchasing an additional 127,193 shares during the period. Keybank National Association OH owned 0.31% of Parsons worth $27,667,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of PSN. Artisan Partners Limited Partnership raised its position in Parsons by 15.2% during the second quarter. Artisan Partners Limited Partnership now owns 2,114,579 shares of the company’s stock valued at $151,763,000 after acquiring an additional 279,244 shares in the last quarter. William Blair Investment Management LLC raised its position in shares of Parsons by 72.5% in the second quarter. William Blair Investment Management LLC now owns 1,889,281 shares of the company’s stock valued at $135,594,000 after buying an additional 793,807 shares during the last quarter. Channing Capital Management LLC lifted its stake in Parsons by 20.3% in the 2nd quarter. Channing Capital Management LLC now owns 1,277,286 shares of the company’s stock worth $91,671,000 after purchasing an additional 215,106 shares in the last quarter. AQR Capital Management LLC grew its holdings in Parsons by 151.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,061,614 shares of the company’s stock valued at $75,173,000 after buying an additional 639,481 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Parsons by 5.1% in the second quarter. Geode Capital Management LLC now owns 866,740 shares of the company’s stock valued at $62,216,000 after purchasing an additional 42,270 shares during the period. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Parsons Stock Down 1.2%

Shares of NYSE PSN opened at $70.07 on Friday. The firm’s 50-day moving average is $69.59 and its two-hundred day moving average is $76.74. The company has a market capitalization of $7.46 billion, a PE ratio of 32.14, a price-to-earnings-growth ratio of 3.97 and a beta of 0.67. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.67 and a quick ratio of 1.67. Parsons Corporation has a 12-month low of $54.56 and a 12-month high of $89.50.

Parsons (NYSE:PSN) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.86 earnings per share for the quarter, beating 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 business had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the business posted $0.95 earnings per share. The company’s revenue was down 10.4% on a year-over-year basis. Equities analysts anticipate that Parsons Corporation will post 3.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PSN. UBS Group dropped their price target on shares of Parsons from $107.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, January 15th. Raymond James Financial cut shares of Parsons from a “strong-buy” rating to a “market perform” rating in a report on Friday, December 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Parsons in a report on Monday, December 29th. Barclays boosted their price target on shares of Parsons from $70.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. Finally, Citigroup increased their price objective on Parsons from $86.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.54.

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.