Parsons Corporation (NYSE:PSN) Shares Bought by Blair William & Co. IL

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 increased its holdings in shares of Parsons Corporation (NYSE:PSN - Free Report) by 1,446.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 164,361 shares of the company's stock after acquiring an additional 153,735 shares during the period. Blair William & Co. IL owned about 0.15% of Parsons worth $9,732,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. New York State Teachers Retirement System raised its position in Parsons by 1.8% during the 1st quarter. New York State Teachers Retirement System now owns 11,317 shares of the company's stock valued at $670,000 after purchasing an additional 200 shares in the last quarter. First Command Advisory Services Inc. bought a new stake in Parsons during the first quarter valued at about $385,000. Janney Montgomery Scott LLC boosted its position in Parsons by 152.0% during the first quarter. Janney Montgomery Scott LLC now owns 9,195 shares of the company's stock valued at $544,000 after purchasing an additional 5,546 shares in the last quarter. GAMMA Investing LLC boosted its position in Parsons by 19,411.1% during the first quarter. GAMMA Investing LLC now owns 61,460 shares of the company's stock valued at $3,639,000 after purchasing an additional 61,145 shares in the last quarter. Finally, Keybank National Association OH boosted its position in Parsons by 6,690.0% during the first quarter. Keybank National Association OH now owns 192,905 shares of the company's stock valued at $11,422,000 after purchasing an additional 190,064 shares in the last quarter. 98.02% of the stock is owned by institutional investors.

Parsons Stock Up 1.0%

PSN stock traded up $0.77 on Friday, hitting $77.64. 964,569 shares of the company's stock were exchanged, compared to its average volume of 984,583. Parsons Corporation has a 12-month low of $54.56 and a 12-month high of $114.68. The firm has a 50 day moving average price of $72.48 and a two-hundred day moving average price of $68.24. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.29 and a current ratio of 1.61. The stock has a market cap of $8.30 billion, a P/E ratio of 34.66, a price-to-earnings-growth ratio of 4.72 and a beta of 0.58.

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

Analyst Ratings Changes

A number of brokerages recently weighed in on PSN. Stifel Nicolaus began coverage on Parsons in a research report on Tuesday, June 24th. They set a "buy" rating and a $81.00 price objective on the stock. Truist Financial raised their price objective on Parsons from $80.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. KeyCorp reaffirmed an "overweight" rating and set a $84.00 price objective (up previously from $82.00) on shares of Parsons in a research report on Thursday. Jefferies Financial Group raised their price objective on Parsons from $70.00 to $80.00 and gave the company a "hold" rating in a research report on Wednesday, July 2nd. Finally, Bank of America dropped their price objective on Parsons from $100.00 to $95.00 and set a "buy" rating on the stock in a research report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $88.70.

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.