Junto Capital Management LP Sells 355,225 Shares of Parsons Corporation $PSN

Junto Capital Management LP trimmed its position in shares of Parsons Corporation (NYSE:PSN) by 46.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 407,391 shares of the company’s stock after selling 355,225 shares during the period. Junto Capital Management LP owned 0.38% of Parsons worth $33,781,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new stake in Parsons in the third quarter valued at $25,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Parsons in the 3rd quarter valued at about $40,000. Penserra Capital Management LLC acquired a new position in shares of Parsons during the 3rd quarter worth about $59,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Parsons by 176.0% during the 2nd 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 last quarter. Finally, CI Investments Inc. raised its holdings in shares of Parsons by 32.5% in the 3rd quarter. CI Investments Inc. now owns 852 shares of the company’s stock valued at $71,000 after purchasing an additional 209 shares during the period. 98.02% of the stock is owned by institutional investors.

Parsons Trading Down 3.4%

PSN stock opened at $54.88 on Monday. Parsons Corporation has a 52 week low of $54.64 and a 52 week high of $89.50. The company has a market capitalization of $5.81 billion, a PE ratio of 24.95, a price-to-earnings-growth ratio of 1.72 and a beta of 0.68. The company’s 50-day simple moving average is $66.87 and its 200 day simple moving average is $74.06. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.75 and a current ratio of 1.75.

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PSN shares. Robert W. Baird cut their target price on shares of Parsons from $100.00 to $82.00 and set an “outperform” rating for the company in a research note on Monday, December 8th. Zacks Research downgraded Parsons from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. William Blair upgraded Parsons from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 20th. Barclays raised their price objective on Parsons from $70.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. Finally, Raymond James Financial downgraded Parsons from a “strong-buy” rating to a “market perform” rating in a research note on Friday, December 5th. Eleven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Parsons presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.42.

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.