Parsons Corporation $PSN Stock Holdings Increased by Blue Trust Inc.

Blue Trust Inc. raised its holdings in shares of Parsons Corporation (NYSE:PSN) by 6.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,367 shares of the company’s stock after acquiring an additional 214 shares during the period. Blue Trust Inc.’s holdings in Parsons were worth $242,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. CWM LLC raised its stake in Parsons by 2.1% during the 1st quarter. CWM LLC now owns 7,810 shares of the company’s stock valued at $462,000 after acquiring an additional 163 shares in the last quarter. New York State Teachers Retirement System raised its stake in Parsons by 1.8% during the 1st quarter. New York State Teachers Retirement System now owns 11,317 shares of the company’s stock valued at $670,000 after acquiring an additional 200 shares in the last quarter. Roanoke Asset Management Corp NY raised its stake in Parsons by 0.5% during the 1st quarter. Roanoke Asset Management Corp NY now owns 38,935 shares of the company’s stock valued at $2,305,000 after acquiring an additional 200 shares in the last quarter. Signaturefd LLC raised its stake in Parsons by 63.1% during the 1st quarter. Signaturefd LLC now owns 610 shares of the company’s stock valued at $36,000 after acquiring an additional 236 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Parsons by 23.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,277 shares of the company’s stock worth $92,000 after buying an additional 239 shares in the last quarter. Institutional investors own 98.02% of the company’s stock.

Parsons Stock Performance

Shares of NYSE PSN opened at $86.03 on Wednesday. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $9.19 billion, a price-to-earnings ratio of 38.41, a PEG ratio of 4.54 and a beta of 0.64. The stock’s fifty day simple moving average is $80.57 and its 200 day simple moving average is $72.61. Parsons Corporation has a 52-week low of $54.56 and a 52-week high of $114.68.

Parsons (NYSE:PSN) last issued its earnings results on Wednesday, August 6th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Parsons had a return on equity of 12.36% and a net margin of 3.70%.The company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.84 EPS. As a group, sell-side analysts forecast that Parsons Corporation will post 3.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PSN has been the topic of a number of research reports. Jefferies Financial Group boosted their price objective on Parsons from $70.00 to $80.00 and gave the stock a “hold” rating in a research note on Wednesday, July 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Parsons in a research note on Wednesday, October 8th. Raymond James Financial raised Parsons from a “market perform” rating to a “strong-buy” rating and set a $90.00 price objective on the stock in a research note on Tuesday, July 8th. Stifel Nicolaus initiated coverage on Parsons in a research note on Tuesday, June 24th. They issued a “buy” rating and a $81.00 price objective on the stock. Finally, Zacks Research raised Parsons from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $90.80.

Parsons Company Profile

Parsons Corporation provides integrated solutions and services in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. The company operates through Federal Solutions and Critical Infrastructure segments. The Federal Solutions segment provides critical technologies, such as cybersecurity; missile defense; intelligence; space launch and ground systems; space and weapon system resiliency; geospatial intelligence; signals intelligence; environmental remediation; border security, critical infrastructure protection; counter unmanned air systems; biometrics and bio surveillance solutions to U.S.