Moore Capital Management LP Acquires New Position in Parsons Corporation $PSN

Moore Capital Management LP acquired a new stake in Parsons Corporation (NYSE:PSN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 339,511 shares of the company’s stock, valued at approximately $20,982,000. Moore Capital Management LP owned 0.32% of Parsons as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PSN. Swedbank AB lifted its position in Parsons by 654.7% in the fourth quarter. Swedbank AB now owns 1,052,541 shares of the company’s stock valued at $65,047,000 after purchasing an additional 913,079 shares during the period. AQR Capital Management LLC lifted its position in 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 purchasing an additional 639,481 shares during the period. Brown Advisory Inc. lifted its position in Parsons by 142.1% in the fourth quarter. Brown Advisory Inc. now owns 833,322 shares of the company’s stock valued at $51,499,000 after purchasing an additional 489,187 shares during the period. Alyeska Investment Group L.P. acquired a new stake in Parsons in the third quarter valued at about $38,880,000. Finally, Clearline Capital LP acquired a new stake in Parsons in the fourth quarter valued at about $25,545,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Trading Down 1.3%

Shares of PSN opened at $54.94 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.75 and a quick ratio of 1.75. The firm has a 50 day simple moving average of $54.70 and a 200-day simple moving average of $61.04. Parsons Corporation has a 1-year low of $48.23 and a 1-year high of $89.50. The stock has a market cap of $5.88 billion, a price-to-earnings ratio of 26.29, a price-to-earnings-growth ratio of 1.77 and a beta of 0.64.

Parsons (NYSE:PSN) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.09. Parsons had a net margin of 3.62% and a return on equity of 11.52%. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the company posted $0.60 EPS. The company’s revenue was down 4.1% on a year-over-year basis. Equities analysts forecast that Parsons Corporation will post 2.94 EPS for the current fiscal year.

Insider Transactions at Parsons

In other Parsons news, Director Mark Keith Holdsworth acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average cost of $51.27 per share, with a total value of $512,700.00. Following the purchase, the director directly owned 39,918 shares in the company, valued at approximately $2,046,595.86. This trade represents a 33.42% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director George L. Ball acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average cost of $50.00 per share, with a total value of $500,000.00. Following the completion of the purchase, the director owned 150,383 shares in the company, valued at approximately $7,519,150. This represents a 7.12% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 32,500 shares of company stock valued at $1,637,325 in the last ninety days. Corporate insiders own 1.31% of the company’s stock.

Wall Street Analysts Forecast Growth

PSN has been the subject of a number of recent analyst reports. Jefferies Financial Group restated a “hold” rating on shares of Parsons in a research report on Sunday, May 3rd. Barclays reduced their price target on shares of Parsons from $78.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. Zacks Research upgraded shares of Parsons from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Citigroup reduced their price target on shares of Parsons from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Finally, Truist Financial reduced their price target on shares of Parsons from $85.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Nine investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $76.92.

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.