AQR Capital Management LLC Acquires 5,148 Shares of Parsons Corporation $PSN

AQR Capital Management LLC grew its stake in shares of Parsons Corporation (NYSE:PSN - Free Report) by 1.2% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 422,133 shares of the company's stock after acquiring an additional 5,148 shares during the quarter. AQR Capital Management LLC owned about 0.39% of Parsons worth $24,872,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of PSN. Captrust Financial Advisors lifted its position in shares of Parsons by 2.8% during the 4th quarter. Captrust Financial Advisors now owns 11,030 shares of the company's stock valued at $1,018,000 after acquiring an additional 298 shares during the period. Cetera Investment Advisers lifted its position in shares of Parsons by 16.8% during the 4th quarter. Cetera Investment Advisers now owns 8,328 shares of the company's stock worth $768,000 after buying an additional 1,199 shares during the last quarter. Ethic Inc. lifted its position in shares of Parsons by 141.5% during the 4th quarter. Ethic Inc. now owns 7,427 shares of the company's stock worth $685,000 after buying an additional 4,352 shares during the last quarter. Graham Capital Management L.P. lifted its position in shares of Parsons by 417.9% during the 4th quarter. Graham Capital Management L.P. now owns 10,193 shares of the company's stock worth $940,000 after buying an additional 8,225 shares during the last quarter. Finally, Gotham Asset Management LLC lifted its position in shares of Parsons by 114.6% during the 4th quarter. Gotham Asset Management LLC now owns 35,089 shares of the company's stock worth $3,237,000 after buying an additional 18,738 shares during the last quarter. 98.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on PSN shares. Truist Financial upped their price objective on Parsons from $80.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Baird R W upgraded Parsons from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Jefferies Financial Group increased their target price on Parsons from $70.00 to $80.00 and gave the company a "hold" rating in a research report on Wednesday, July 2nd. Zacks Research upgraded Parsons from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 14th. Finally, Raymond James Financial upgraded Parsons from a "market perform" rating to a "strong-buy" rating and set a $90.00 target price for the company in a research report on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $88.70.

Parsons Trading Up 0.4%

Shares of PSN traded up $0.26 during mid-day trading on Wednesday, reaching $74.76. 969,704 shares of the company were exchanged, compared to its average volume of 925,558. The stock has a market capitalization of $7.98 billion, a PE ratio of 33.38, a PEG ratio of 3.93 and a beta of 0.63. The business has a 50 day simple moving average of $76.85 and a two-hundred day simple moving average of $68.55. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.61 and a current ratio of 1.61. Parsons Corporation has a 52 week low of $54.56 and a 52 week high of $114.68.

Parsons (NYSE:PSN - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.04. The firm had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.60 billion. Parsons had a return on equity of 12.36% and a net margin of 3.70%.The company's revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.84 EPS. On average, analysts predict that Parsons Corporation will post 3.58 earnings per share for the current fiscal year.

About Parsons

Parsons Corporation provides integrated solutions and services in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. The company operates through Federal Solutions and Critical Infrastructure segments. The Federal Solutions segment provides critical technologies, such as cybersecurity; missile defense; intelligence; space launch and ground systems; space and weapon system resiliency; geospatial intelligence; signals intelligence; environmental remediation; border security, critical infrastructure protection; counter unmanned air systems; biometrics and bio surveillance solutions to U.S.