Groupama Asset Managment Has $49.75 Million Stake in Parsons Corporation $PSN

Groupama Asset Managment lowered its position in Parsons Corporation (NYSE:PSN) by 73.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 600,000 shares of the company’s stock after selling 1,700,000 shares during the period. Groupama Asset Managment’s holdings in Parsons were worth $49,752,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in Parsons by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,077,310 shares of the company’s stock valued at $421,011,000 after purchasing an additional 130,694 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in Parsons by 10.3% in the third quarter. Artisan Partners Limited Partnership now owns 2,331,921 shares of the company’s stock worth $193,363,000 after purchasing an additional 217,342 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Parsons by 2.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,682,586 shares of the company’s stock worth $139,511,000 after purchasing an additional 45,922 shares in the last quarter. Channing Capital Management LLC grew its holdings in shares of Parsons by 20.3% during the second quarter. Channing Capital Management LLC now owns 1,277,286 shares of the company’s stock worth $91,671,000 after purchasing an additional 215,106 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Parsons by 151.5% in the second 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 in the last quarter. 98.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Raymond James Financial cut Parsons from a “strong-buy” rating to a “market perform” rating in a report on Friday, December 5th. Truist Financial restated a “buy” rating and issued a $85.00 price objective (down from $90.00) on shares of Parsons in a research report on Thursday, February 12th. TD Cowen raised shares of Parsons from a “hold” rating to a “buy” rating and dropped their target price for the stock from $90.00 to $75.00 in a research note on Wednesday, December 10th. Stifel Nicolaus reduced their target price on shares of Parsons from $94.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, December 23rd. Finally, Bank of America decreased their price target on shares of Parsons from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, December 30th. Eleven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $83.42.

Parsons Price Performance

Parsons stock opened at $51.11 on Thursday. The business’s 50-day simple moving average is $66.07 and its 200 day simple moving average is $73.53. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.45. The stock has a market cap of $5.41 billion, a price-to-earnings ratio of 23.23, a P/E/G ratio of 1.69 and a beta of 0.68. Parsons Corporation has a 12-month low of $51.07 and a 12-month high of $89.50.

Parsons (NYSE:PSN) last announced 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 firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.68 billion. Parsons had a return on equity of 11.81% and a net margin of 3.79%.The business’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 earnings per share. As a group, research analysts anticipate that Parsons Corporation will post 3.58 earnings per share for the current 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.