Parsons Corporation $PSN Holdings Raised by Sunbelt Securities Inc.

Sunbelt Securities Inc. lifted its stake in Parsons Corporation (NYSE:PSN) by 102,844.4% in the fourth quarter, HoldingsChannel reports. The firm owned 37,060 shares of the company’s stock after purchasing an additional 37,024 shares during the period. Sunbelt Securities Inc.’s holdings in Parsons were worth $2,290,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. NewEdge Advisors LLC grew its position in Parsons by 38.0% during the 1st quarter. NewEdge Advisors LLC now owns 959 shares of the company’s stock worth $57,000 after purchasing an additional 264 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Parsons by 433.9% in the first quarter. Jones Financial Companies Lllp now owns 1,260 shares of the company’s stock valued at $75,000 after purchasing an additional 1,024 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Parsons in the second quarter valued at $228,000. Prudential Financial Inc. boosted its position in shares of Parsons by 40.9% in the second quarter. Prudential Financial Inc. now owns 5,945 shares of the company’s stock worth $427,000 after buying an additional 1,725 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Parsons by 176.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 828 shares of the company’s stock worth $59,000 after buying an additional 528 shares during the period. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Price Performance

PSN opened at $52.23 on Friday. The stock has a fifty day moving average price of $54.50 and a 200 day moving average price of $60.75. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.55. Parsons Corporation has a 1 year low of $48.23 and a 1 year high of $89.50. The stock has a market cap of $5.59 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 1.66 and a beta of 0.64.

Parsons (NYSE:PSN) last issued its earnings results on Wednesday, April 29th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.09. Parsons had a return on equity of 11.52% and a net margin of 3.62%.The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the firm posted $0.60 EPS. The business’s revenue was down 4.1% compared to the same quarter last year. Analysts forecast that Parsons Corporation will post 2.94 EPS for the current fiscal year.

Insider Activity at Parsons

In other news, CEO Carey A. Smith acquired 12,500 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were purchased at an average price of $49.97 per share, for a total transaction of $624,625.00. Following the completion of the acquisition, the chief executive officer owned 575,376 shares of the company’s stock, valued at approximately $28,751,538.72. This represents a 2.22% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director George L. Ball acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average price of $50.00 per share, for a total transaction of $500,000.00. Following the acquisition, the director directly owned 150,383 shares of the company’s stock, valued at $7,519,150. The trade was a 7.12% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders bought 32,500 shares of company stock valued at $1,637,325. 1.31% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PSN. Jefferies Financial Group reissued a “hold” rating on shares of Parsons in a research report on Sunday, May 3rd. BNP Paribas Exane set a $65.00 target price on Parsons and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Barclays dropped their target price on Parsons from $78.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. Weiss Ratings lowered shares of Parsons from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Finally, Truist Financial decreased their price target on shares of Parsons from $85.00 to $75.00 and set a “buy” rating for the company in a report on Monday, April 20th. Nine analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.92.

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.