Edmond DE Rothschild Holding S.A. Buys Shares of 4,874 Parsons Corporation $PSN

Key Points

• Edmond DE Rothschild Holding S.A. has acquired a new position in Parsons Corporation, purchasing 4,874 shares valued at approximately $289,000 during the first quarter.
• Parsons' stock currently has a market cap of $8.07 billion and a price-to-earnings ratio of 33.73, with shares trading near $75.56.
• Analysts have varied views on Parsons; for instance, Bank of America has lowered its target price from $100 to $95, while Raymond James Financial upgraded its rating to "strong-buy" with a $90 target price.

Edmond DE Rothschild Holding S.A. bought a new stake in Parsons Corporation (NYSE:PSN - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,874 shares of the company's stock, valued at approximately $289,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Parsons by 8.2% in the 1st quarter. Vanguard Group Inc. now owns 4,952,299 shares of the company's stock valued at $293,226,000 after purchasing an additional 376,764 shares during the period. Groupama Asset Managment bought a new stake in shares of Parsons during the 1st quarter worth about $136,183,000. Mackenzie Financial Corp raised its holdings in Parsons by 53.8% in the 1st quarter. Mackenzie Financial Corp now owns 1,084,288 shares of the company's stock valued at $64,201,000 after acquiring an additional 379,254 shares during the period. Channing Capital Management LLC raised its holdings in Parsons by 42.9% in the 1st quarter. Channing Capital Management LLC now owns 1,062,180 shares of the company's stock valued at $62,892,000 after acquiring an additional 319,133 shares during the period. Finally, SW Investment Management LLC raised its holdings in Parsons by 38.9% in the 1st quarter. SW Investment Management LLC now owns 500,000 shares of the company's stock valued at $29,605,000 after acquiring an additional 140,000 shares during the period. 98.02% of the stock is owned by institutional investors.

Parsons Price Performance

Shares of NYSE PSN traded up $0.26 during midday trading on Wednesday, reaching $74.76. The company's stock had a trading volume of 794,768 shares, compared to its average volume of 1,360,869. Parsons Corporation has a fifty-two week low of $54.56 and a fifty-two week high of $114.68. The business's 50 day moving average price is $76.83 and its two-hundred day moving average price is $68.51. 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 company has a market cap of $7.98 billion, a P/E ratio of 33.38, a P/E/G ratio of 3.95 and a beta of 0.63.

Parsons (NYSE:PSN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.04. Parsons had a net margin of 3.70% and a return on equity of 12.36%. The business had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter in the prior year, the business posted $0.84 earnings per share. Parsons's revenue was down 5.1% compared to the same quarter last year. On average, analysts forecast that Parsons Corporation will post 3.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PSN shares. Stifel Nicolaus started coverage on shares of Parsons in a report on Tuesday, June 24th. They issued a "buy" rating and a $81.00 price target on the stock. Truist Financial increased their price target on shares of Parsons from $80.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Raymond James Financial raised 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 report on Tuesday, July 8th. Baird R W raised shares of Parsons from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 7th. Finally, 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 research report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, Parsons presently has an average rating of "Moderate Buy" and an average price target of $88.70.

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.