Mackenzie Financial Corp Purchases 2,071 Shares of Parsons Corporation $PSN

Mackenzie Financial Corp grew its position in Parsons Corporation (NYSE:PSN) by 0.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,086,359 shares of the company’s stock after buying an additional 2,071 shares during the period. Mackenzie Financial Corp owned approximately 1.02% of Parsons worth $77,968,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Groupama Asset Managment acquired a new position in Parsons in the first quarter valued at about $136,183,000. William Blair Investment Management LLC lifted its holdings in shares of Parsons by 72.5% during the 2nd quarter. William Blair Investment Management LLC now owns 1,889,281 shares of the company’s stock valued at $135,594,000 after purchasing an additional 793,807 shares in the last quarter. Norges Bank acquired a new position in shares of Parsons in the 2nd quarter valued at approximately $37,131,000. Vanguard Group Inc. increased its stake in Parsons by 8.2% during the 1st quarter. Vanguard Group Inc. now owns 4,952,299 shares of the company’s stock worth $293,226,000 after purchasing an additional 376,764 shares in the last quarter. Finally, Primecap Management Co. CA acquired a new stake in Parsons during the 1st quarter worth approximately $19,824,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Price Performance

NYSE:PSN opened at $84.68 on Friday. Parsons Corporation has a 52-week low of $54.56 and a 52-week high of $101.92. The company has a market cap of $9.02 billion, a P/E ratio of 38.84, a P/E/G ratio of 4.38 and a beta of 0.62. 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 stock’s 50-day simple moving average is $83.90 and its 200 day simple moving average is $77.28.

Parsons (NYSE:PSN) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.74 by $0.12. The firm had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Parsons had a return on equity of 11.98% and a net margin of 3.69%.The business’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.95 earnings per share. Parsons has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Parsons Corporation will post 3.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PSN. Truist Financial increased their price objective on shares of Parsons from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Parsons in a report on Wednesday, October 8th. KeyCorp boosted their price target on Parsons from $87.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Baird R W upgraded Parsons from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Finally, Robert W. Baird lifted their target price on Parsons from $92.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Parsons currently has an average rating of “Moderate Buy” and a consensus price target of $92.82.

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.