Citizens Financial Group Inc. RI acquired a new position in shares of Parsons Corporation (NYSE:PSN - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 28,204 shares of the company's stock, valued at approximately $1,478,000.
Other institutional investors have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Parsons in the 2nd quarter valued at $9,053,000. State of Wyoming acquired a new stake in Parsons during the 2nd quarter worth $64,000. GSA Capital Partners LLP purchased a new stake in Parsons in the second quarter valued at $292,000. GAMMA Investing LLC lifted its position in Parsons by 160.0% in the second quarter. GAMMA Investing LLC now owns 949 shares of the company's stock valued at $50,000 after acquiring an additional 584 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in Parsons by 183.6% in the second quarter. Versant Capital Management Inc now owns 553 shares of the company's stock valued at $29,000 after acquiring an additional 358 shares in the last quarter. Hedge funds and other institutional investors own 98.02% of the company's stock.
Insider Activity at Parsons
In other Parsons news, Director George L. Ball purchased 20,000 shares of Parsons stock in a transaction dated Friday, August 7th. The stock was acquired at an average cost of $47.97 per share, with a total value of $959,400.00. Following the acquisition, the director directly owned 170,383 shares of the company's stock, valued at $8,173,272.51. This represents a 13.30% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.31% of the stock is owned by corporate insiders.
Parsons Stock Up 1.7%
PSN stock opened at $46.53 on Wednesday. Parsons Corporation has a one year low of $36.26 and a one year high of $89.50. The stock has a market capitalization of $4.97 billion, a PE ratio of 32.09, a price-to-earnings-growth ratio of 3.63 and a beta of 0.68. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.66 and a current ratio of 1.66. The company has a fifty day moving average of $52.43 and a 200-day moving average of $55.98.
Parsons (NYSE:PSN - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($0.82). The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.61 billion. Parsons had a return on equity of 8.10% and a net margin of 2.50%.The company's revenue was down .5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.78 earnings per share. As a group, analysts expect that Parsons Corporation will post 2.29 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. Truist Financial reiterated a "buy" rating and set a $60.00 target price (down from $75.00) on shares of Parsons in a research report on Thursday, July 30th. UBS Group decreased their target price on Parsons from $67.00 to $58.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Stifel Nicolaus dropped their price target on Parsons from $79.00 to $66.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Zacks Research lowered Parsons from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 5th. Finally, William Blair reiterated an "outperform" rating on shares of Parsons in a research note on Wednesday, July 29th. Ten equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Parsons currently has an average rating of "Moderate Buy" and an average target price of $64.33.
Read Our Latest Stock Analysis on PSN
Parsons Profile
(
Free Report)
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.
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