Parsons (NYSE:PSN) Director George Ball Buys 10,000 Shares

Parsons Corporation (NYSE:PSN) Director George Ball acquired 10,000 shares of Parsons stock in a transaction that occurred on Wednesday, May 13th. The shares were purchased at an average price of $50.00 per share, for a total transaction of $500,000.00. Following the completion of the purchase, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Parsons Stock Up 1.7%

Shares of NYSE:PSN opened at $51.17 on Friday. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of 24.48, a price-to-earnings-growth ratio of 1.60 and a beta of 0.60. Parsons Corporation has a 1-year low of $48.23 and a 1-year high of $89.50. The company’s fifty day moving average is $54.50 and its two-hundred day moving average is $65.62. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.75 and a current ratio of 1.75.

Parsons (NYSE:PSN) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.70 by $0.09. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.50 billion. Parsons had a net margin of 3.62% and a return on equity of 11.52%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 EPS. Equities analysts anticipate that Parsons Corporation will post 2.94 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PSN. Jefferies Financial Group reiterated a “hold” rating on shares of Parsons in a research report on Sunday, May 3rd. UBS Group reduced their price objective on Parsons from $104.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Robert W. Baird reaffirmed a “neutral” rating and issued a $60.00 target price on shares of Parsons in a research report on Monday, April 13th. KeyCorp cut Parsons from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, April 14th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Parsons in a report on Friday, March 27th. Nine equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $78.17.

Institutional Trading of Parsons

Hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC boosted 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 acquiring an additional 264 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Parsons by 433.9% during 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 bought a new stake in shares of Parsons during the second quarter valued at about $228,000. Prudential Financial Inc. lifted its holdings in 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 purchasing an additional 1,725 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in 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 purchasing an additional 528 shares during the period. Institutional investors own 98.02% of the company’s stock.

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.