Edmond DE Rothschild Holding S.A. Makes New $3.18 Million Investment in Parsons Corporation $PSN

Key Points

• Edmond de Rothschild Holding acquired 60,710 Parsons shares worth approximately $3.18 million, while institutional investors collectively own 98.02% of the company.
• Parsons shares fell 2.2% to $46.06 after the company reported a quarterly EPS loss of $0.06, missing estimates by $0.82, alongside a slight year-over-year revenue decline.
• Analyst views remain mixed, but Parsons retains a consensus “Moderate Buy” rating with an average price target of $64.33; several analysts recently lowered targets or downgraded the stock.

Edmond DE Rothschild Holding S.A. purchased a new stake in Parsons Corporation (NYSE:PSN - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 60,710 shares of the company's stock, valued at approximately $3,181,000. Edmond DE Rothschild Holding S.A. owned about 0.06% of Parsons at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Swedbank AB raised its holdings in shares of Parsons by 126.8% in the 1st quarter. Swedbank AB now owns 2,387,643 shares of the company's stock valued at $129,339,000 after purchasing an additional 1,335,102 shares during the period. AQR Capital Management LLC grew its holdings in Parsons by 151.5% during the second quarter. AQR Capital Management LLC now owns 1,061,614 shares of the company's stock worth $75,173,000 after purchasing an additional 639,481 shares during the period. Brown Advisory Inc. grew its holdings in Parsons by 142.1% during the fourth quarter. Brown Advisory Inc. now owns 833,322 shares of the company's stock worth $51,499,000 after purchasing an additional 489,187 shares during the period. Alyeska Investment Group L.P. acquired a new position in Parsons during the third quarter worth approximately $38,880,000. Finally, Cooper Creek Partners Management LLC increased its position in Parsons by 1,248.6% during the first quarter. Cooper Creek Partners Management LLC now owns 505,128 shares of the company's stock worth $27,363,000 after buying an additional 467,672 shares during the last quarter. Institutional investors own 98.02% of the company's stock.

Parsons Stock Down 2.2%

PSN stock opened at $46.06 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.66 and a quick ratio of 1.66. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of 31.77, a PEG ratio of 3.57 and a beta of 0.68. The business's fifty day moving average price is $52.02 and its two-hundred day moving average price is $55.64. Parsons Corporation has a fifty-two week low of $36.26 and a fifty-two week high of $89.50.

Parsons (NYSE:PSN - Get Free Report) last announced its 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). Parsons had a net margin of 2.50% and a return on equity of 8.10%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the firm posted $0.78 EPS. The company's revenue was down .5% compared to the same quarter last year. On average, equities analysts anticipate that Parsons Corporation will post 2.29 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Barclays cut their price objective on Parsons from $70.00 to $60.00 and set an "overweight" rating for the company in a research report on Thursday, July 30th. Zacks Research lowered Parsons from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 5th. Weiss Ratings downgraded Parsons from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, July 30th. Jefferies Financial Group upgraded shares of Parsons from a "hold" rating to a "buy" rating and set a $52.00 price objective on the stock in a report on Sunday, August 2nd. Finally, Stifel Nicolaus dropped their price objective on shares of Parsons from $79.00 to $66.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. Ten investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.33.

Insiders Place Their Bets

In other Parsons news, Director George L. Ball acquired 20,000 shares of the company's stock in a transaction on Friday, August 7th. The stock was acquired at an average price of $47.97 per share, for a total transaction of $959,400.00. Following the purchase, the director directly owned 170,383 shares of the company's stock, valued at $8,173,272.51. This trade represents a 13.30% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.31% of the stock is owned by company insiders.

Parsons Profile

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.

Want to see what other hedge funds are holding PSN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parsons Corporation (NYSE:PSN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source