Vanguard Group Inc. Has $421.01 Million Stock Position in Parsons Corporation $PSN

Vanguard Group Inc. lifted its position in Parsons Corporation (NYSE:PSN) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,077,310 shares of the company’s stock after buying an additional 130,694 shares during the quarter. Vanguard Group Inc. owned about 4.75% of Parsons worth $421,011,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Northwestern Mutual Investment Management Company LLC increased its stake in shares of Parsons by 13.4% in the third quarter. Northwestern Mutual Investment Management Company LLC now owns 11,902 shares of the company’s stock worth $987,000 after purchasing an additional 1,402 shares during the period. Fifth Third Bancorp boosted its holdings in Parsons by 662.0% during the third quarter. Fifth Third Bancorp now owns 4,534 shares of the company’s stock valued at $376,000 after purchasing an additional 3,939 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Parsons by 61.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 11,262 shares of the company’s stock worth $934,000 after buying an additional 4,281 shares during the period. TimesSquare Capital Management LLC boosted its stake in Parsons by 9.9% in the 3rd quarter. TimesSquare Capital Management LLC now owns 345,115 shares of the company’s stock valued at $28,617,000 after buying an additional 30,995 shares in the last quarter. Finally, Uhlmann Price Securities LLC bought a new stake in Parsons in the third quarter valued at $265,000. 98.02% of the stock is owned by institutional investors and hedge funds.

Parsons Price Performance

Parsons stock opened at $66.38 on Friday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.45. Parsons Corporation has a 12-month low of $54.56 and a 12-month high of $89.50. The stock has a market cap of $7.02 billion, a price-to-earnings ratio of 30.17, a P/E/G ratio of 2.04 and a beta of 0.66. The business’s 50-day simple moving average is $66.79 and its 200 day simple moving average is $75.43.

Parsons (NYSE:PSN) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $0.75 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 business 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 firm earned $0.78 EPS. The firm’s quarterly revenue was down 7.5% compared to the same quarter last year. As a group, research analysts anticipate that Parsons Corporation will post 3.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on PSN. Truist Financial reissued a “buy” rating and set a $85.00 price objective (down from $90.00) on shares of Parsons in a report on Thursday, February 12th. Citigroup lifted their price target on shares of Parsons from $86.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Robert W. Baird reduced their price target on shares of Parsons from $100.00 to $82.00 and set an “outperform” rating on the stock in a research report on Monday, December 8th. Stifel Nicolaus dropped their price objective on shares of Parsons from $94.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, December 23rd. Finally, Barclays boosted their target price on Parsons from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. Eleven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $83.42.

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.