Parsons Corporation $PSN Shares Acquired by Brown Advisory Inc.

Brown Advisory Inc. grew its position in Parsons Corporation (NYSE:PSN) by 142.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 833,322 shares of the company’s stock after acquiring an additional 489,187 shares during the period. Brown Advisory Inc.’s holdings in Parsons were worth $51,499,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of PSN. Swedbank AB raised its position in shares of Parsons by 654.7% in the fourth quarter. Swedbank AB now owns 1,052,541 shares of the company’s stock worth $65,047,000 after acquiring an additional 913,079 shares during the period. AQR Capital Management LLC raised its position 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 worth $75,173,000 after acquiring an additional 639,481 shares during the period. Alyeska Investment Group L.P. acquired a new position in shares of Parsons in the third quarter worth about $38,880,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Parsons by 44.7% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,032,760 shares of the company’s stock worth $85,636,000 after acquiring an additional 318,841 shares during the period. Finally, Norges Bank acquired a new position in shares of Parsons in the fourth quarter worth about $18,674,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Insider Activity

In other news, CEO Carey A. Smith purchased 12,500 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was acquired at an average price of $49.97 per share, with a total value of $624,625.00. Following the purchase, the chief executive officer directly owned 575,376 shares in the company, valued at approximately $28,751,538.72. This represents a 2.22% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director George L. Ball purchased 10,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was purchased at an average cost of $50.00 per share, with a total value of $500,000.00. Following the purchase, the director owned 150,383 shares in the company, valued at approximately $7,519,150. This trade represents a 7.12% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 32,500 shares of company stock valued at $1,637,325 in the last 90 days. Company insiders own 1.31% of the company’s stock.

Parsons Stock Down 0.1%

Shares of NYSE PSN opened at $56.62 on Monday. Parsons Corporation has a 12-month low of $48.23 and a 12-month high of $89.50. The stock has a market cap of $6.06 billion, a PE ratio of 27.09, a P/E/G ratio of 1.80 and a beta of 0.64. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average of $54.76 and a 200 day moving average of $61.65.

Parsons (NYSE:PSN) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.09. Parsons had a net margin of 3.62% and a return on equity of 11.52%. The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the company earned $0.60 EPS. Parsons’s revenue was down 4.1% compared to the same quarter last year. As a group, sell-side analysts predict that Parsons Corporation will post 2.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PSN. Weiss Ratings downgraded shares of Parsons from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Barclays cut their target price on shares of Parsons from $78.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. Truist Financial cut their target price on shares of Parsons from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Citigroup cut their target price on shares of Parsons from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Finally, Zacks Research raised shares of Parsons from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Nine analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $76.92.

Parsons 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.