TD Asset Management Inc Has $4.39 Million Stake in Parsons Corporation $PSN

TD Asset Management Inc lowered its stake in Parsons Corporation (NYSE:PSN) by 18.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,902 shares of the company’s stock after selling 11,614 shares during the period. TD Asset Management Inc’s holdings in Parsons were worth $4,387,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Parsons by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,077,310 shares of the company’s stock valued at $421,011,000 after acquiring an additional 130,694 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in shares of Parsons by 15.2% in the second quarter. Artisan Partners Limited Partnership now owns 2,114,579 shares of the company’s stock worth $151,763,000 after buying an additional 279,244 shares during the last quarter. Channing Capital Management LLC boosted its holdings in shares of Parsons by 20.3% during the 2nd quarter. Channing Capital Management LLC now owns 1,277,286 shares of the company’s stock worth $91,671,000 after buying an additional 215,106 shares during the period. AQR Capital Management LLC grew its stake in Parsons by 151.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,061,614 shares of the company’s stock valued at $75,173,000 after buying an additional 639,481 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Parsons by 5.1% in the 2nd quarter. Geode Capital Management LLC now owns 866,740 shares of the company’s stock worth $62,216,000 after acquiring an additional 42,270 shares during the period. Institutional investors and hedge funds own 98.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PSN. Jefferies Financial Group reaffirmed a “hold” rating on shares of Parsons in a research report on Thursday, January 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Parsons in a report on Monday, December 29th. Citigroup raised their price objective on shares of Parsons from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. Barclays upped their price target on Parsons from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. Finally, UBS Group decreased their price objective on Parsons from $104.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Eleven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $83.42.

Parsons Price Performance

Parsons stock opened at $66.66 on Wednesday. The business has a 50 day simple moving average of $67.07 and a 200 day simple moving average of $75.09. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.75 and a quick ratio of 1.75. The company has a market capitalization of $7.05 billion, a PE ratio of 30.30, a price-to-earnings-growth ratio of 2.12 and a beta of 0.68. Parsons Corporation has a one year low of $54.56 and a one year high of $89.50.

Parsons (NYSE:PSN) last released its quarterly earnings data on Wednesday, February 11th. The company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.06). Parsons had a return on equity of 11.81% and a net margin of 3.79%.The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the company earned $0.78 earnings per share. The business’s revenue was down 7.5% compared to the same quarter last year. On average, sell-side analysts forecast that Parsons Corporation will post 3.58 EPS for the current fiscal year.

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.