Cwm LLC Grows Stake in Parsons Corporation $PSN

Key Points

• Cwm LLC increased its stake in Parsons Corporation by 288.6% in the 2nd quarter, acquiring an additional 22,540 shares for a total of 30,350 shares valued at $2,178,000.
• Parsons reported $0.78 earnings per share for the last quarter, exceeding analyst estimates, although its quarterly revenue fell by 5.1% year-over-year.
• Institutional investors collectively own 98.02% of Parsons' stock, with multiple firms like Vanguard Group and Mackenzie Financial Corp increasing their positions in the company.

Cwm LLC increased its stake in Parsons Corporation (NYSE:PSN - Free Report) by 288.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,350 shares of the company's stock after acquiring an additional 22,540 shares during the period. Cwm LLC's holdings in Parsons were worth $2,178,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Parsons by 8.2% in the first quarter. Vanguard Group Inc. now owns 4,952,299 shares of the company's stock worth $293,226,000 after acquiring an additional 376,764 shares in the last quarter. Groupama Asset Managment purchased a new position in Parsons in the first quarter worth about $136,183,000. Mackenzie Financial Corp grew its position in Parsons by 53.8% in the first quarter. Mackenzie Financial Corp now owns 1,084,288 shares of the company's stock worth $64,201,000 after acquiring an additional 379,254 shares in the last quarter. Channing Capital Management LLC boosted its position in shares of Parsons by 42.9% during the first quarter. Channing Capital Management LLC now owns 1,062,180 shares of the company's stock valued at $62,892,000 after buying an additional 319,133 shares during the period. Finally, SW Investment Management LLC boosted its position in shares of Parsons by 38.9% during the first quarter. SW Investment Management LLC now owns 500,000 shares of the company's stock valued at $29,605,000 after buying an additional 140,000 shares during the period. Hedge funds and other institutional investors own 98.02% of the company's stock.

Parsons Stock Down 0.4%

Shares of NYSE PSN opened at $82.82 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a market capitalization of $8.84 billion, a price-to-earnings ratio of 36.97, a PEG ratio of 4.35 and a beta of 0.64. The stock has a 50 day moving average price of $80.97 and a 200 day moving average price of $73.08. 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 announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.04. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. Parsons had a return on equity of 12.36% and a net margin of 3.70%.Parsons's quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 earnings per share. Sell-side analysts expect that Parsons Corporation will post 3.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PSN shares. Jefferies Financial Group boosted 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. Weiss Ratings restated a "hold (c+)" rating on shares of Parsons in a research report on Wednesday, October 8th. Zacks Research upgraded Parsons from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 14th. Stifel Nicolaus started coverage on Parsons in a research report on Tuesday, June 24th. They set a "buy" rating and a $81.00 target price for the company. Finally, Robert W. Baird boosted their target price on Parsons from $92.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Parsons presently has an average rating of "Moderate Buy" and a consensus target price of $90.80.

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.

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