Blair William & Co. IL Purchases 153,735 Shares of Parsons Corporation (NYSE:PSN)

Key Points

• Blair William & Co. IL significantly increased its stake in Parsons Corporation by 1,446.8% in Q1, holding approximately $9.73 million worth of the company's stock.
• Parsons has a current market capitalization of $8.23 billion and is experiencing fluctuations in analyst ratings, with current targets ranging from $69.00 to $95.00.
• Institutional investors and hedge funds own a combined 98.02% of Parsons' stock, indicating strong institutional support for the company.

Blair William & Co. IL boosted its position in Parsons Corporation (NYSE:PSN - Free Report) by 1,446.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,361 shares of the company's stock after buying an additional 153,735 shares during the quarter. Blair William & Co. IL owned approximately 0.15% of Parsons worth $9,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of PSN. Aster Capital Management DIFC Ltd purchased a new position in shares of Parsons in the fourth quarter worth $25,000. CIBC Private Wealth Group LLC bought a new stake in Parsons in the 4th quarter worth about $25,000. Huntington National Bank raised its position in Parsons by 28,900.0% in the 4th quarter. Huntington National Bank now owns 290 shares of the company's stock worth $27,000 after buying an additional 289 shares during the last quarter. Versant Capital Management Inc purchased a new stake in shares of Parsons during the 1st quarter valued at about $27,000. Finally, Quarry LP bought a new stake in Parsons in the 4th quarter worth approximately $30,000. 98.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PSN has been the topic of several analyst reports. Raymond James Financial upgraded shares of Parsons from a "market perform" rating to a "strong-buy" rating and set a $90.00 price target on the stock in a research note on Tuesday, July 8th. Bank of America lowered their price target on shares of Parsons from $100.00 to $95.00 and set a "buy" rating on the stock in a report on Tuesday, June 3rd. The Goldman Sachs Group cut their price target on Parsons from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, June 4th. Jefferies Financial Group increased their target price on Parsons from $70.00 to $80.00 and gave the stock a "hold" rating in a research report on Wednesday, July 2nd. Finally, Robert W. Baird cut Parsons from an "outperform" rating to a "neutral" rating and lowered their price target for the stock from $72.00 to $69.00 in a report on Thursday, May 1st. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $86.20.

Parsons Stock Performance

Shares of NYSE:PSN traded down $1.11 on Wednesday, reaching $75.89. 1,479,057 shares of the company's stock were exchanged, compared to its average volume of 948,465. The firm has a market capitalization of $8.11 billion, a price-to-earnings ratio of 32.02, a PEG ratio of 4.73 and a beta of 0.58. Parsons Corporation has a fifty-two week low of $54.56 and a fifty-two week high of $114.68. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The business's 50-day moving average is $71.80 and its two-hundred day moving average is $68.45.

Parsons (NYSE:PSN - Get Free Report) last released its 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. Parsons had a net margin of 3.86% and a return on equity of 13.01%. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the firm earned $0.84 EPS. The company's revenue was down 5.1% compared to the same quarter last year. As a group, equities research analysts forecast that Parsons Corporation will post 3.58 EPS for the current year.

Parsons Company Profile

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.