Parsons Corporation $PSN Shares Sold by Osaic Holdings Inc.

Osaic Holdings Inc. cut its stake in Parsons Corporation (NYSE:PSN) by 33.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,308 shares of the company’s stock after selling 11,340 shares during the period. Osaic Holdings Inc.’s holdings in Parsons were worth $1,600,000 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. True Wealth Design LLC raised its holdings in shares of Parsons by 63.9% in the 2nd quarter. True Wealth Design LLC now owns 485 shares of the company’s stock valued at $35,000 after purchasing an additional 189 shares in the last quarter. Banque Transatlantique SA purchased a new position in Parsons in the first quarter valued at $34,000. Northwestern Mutual Wealth Management Co. raised its stake in Parsons by 176.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 828 shares of the company’s stock valued at $59,000 after buying an additional 528 shares in the last quarter. NewEdge Advisors LLC lifted its holdings 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 buying an additional 264 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its position in shares of Parsons by 433.9% during the 1st quarter. Jones Financial Companies Lllp now owns 1,260 shares of the company’s stock worth $75,000 after acquiring an additional 1,024 shares in the last quarter. 98.02% of the stock is owned by institutional investors and hedge funds.

Parsons Trading Down 0.7%

NYSE PSN opened at $62.26 on Wednesday. The firm’s fifty day moving average is $76.07 and its two-hundred day moving average is $77.18. Parsons Corporation has a one year low of $54.56 and a one year high of $97.91. 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 firm has a market cap of $6.63 billion, a PE ratio of 28.56, a P/E/G ratio of 3.25 and a beta of 0.65.

Parsons (NYSE:PSN) last released its quarterly 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. The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.67 billion. Parsons had a return on equity of 11.98% and a net margin of 3.69%.The business’s revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the company posted $0.95 earnings per share. Analysts expect that Parsons Corporation will post 3.58 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Raymond James Financial lowered Parsons from a “strong-buy” rating to a “market perform” rating in a research report on Friday, December 5th. Truist Financial cut their price objective on shares of Parsons from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 5th. William Blair upgraded shares of Parsons from a “market perform” rating to an “outperform” rating in a report on Thursday, November 20th. Jefferies Financial Group cut their price target on shares of Parsons from $90.00 to $75.00 and set a “hold” rating on the stock in a research note on Thursday, December 11th. Finally, Stifel Nicolaus decreased their price objective on shares of Parsons from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, December 23rd. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.08.

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.