Entropy Technologies LP Takes Position in Parsons Corporation (NYSE:PSN)

Key Points

• Entropy Technologies LP acquired 12,389 shares of Parsons Corporation (NYSE: PSN) for approximately $734,000 during the first quarter, signaling increased institutional interest in the company.
• Parsons reported an earnings per share (EPS) of $0.78 for the last quarter, exceeding expectations but showing a revenue decline of 5.1% year-over-year.
• Analysts have a consensus rating of "Buy" for Parsons stock, with an average price target of $88.70, indicating positive outlook among market watchers.

Entropy Technologies LP bought a new position in shares of Parsons Corporation (NYSE:PSN - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 12,389 shares of the company's stock, valued at approximately $734,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc acquired a new stake in shares of Parsons during the first quarter worth $27,000. Quarry LP bought a new stake in shares of Parsons in the 4th quarter valued at about $30,000. UMB Bank n.a. raised its position in shares of Parsons by 238.7% in the 1st quarter. UMB Bank n.a. now owns 552 shares of the company's stock valued at $33,000 after acquiring an additional 389 shares during the period. Fifth Third Bancorp boosted its stake in Parsons by 1,803.4% during the 1st quarter. Fifth Third Bancorp now owns 552 shares of the company's stock worth $33,000 after acquiring an additional 523 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in Parsons by 63.1% during the first quarter. Signaturefd LLC now owns 610 shares of the company's stock valued at $36,000 after purchasing an additional 236 shares during the period. Institutional investors own 98.02% of the company's stock.

Parsons Trading Down 0.1%

Shares of Parsons stock traded down $0.10 during midday trading on Friday, reaching $79.54. The company had a trading volume of 1,175,153 shares, compared to its average volume of 1,411,682. The firm has a market cap of $8.49 billion, a PE ratio of 35.51, a P/E/G ratio of 5.02 and a beta of 0.58. Parsons Corporation has a fifty-two week low of $54.56 and a fifty-two week high of $114.68. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.61 and a quick ratio of 1.61. The stock has a fifty day moving average price of $73.52 and a 200 day moving average price of $68.05.

Parsons (NYSE:PSN - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.78 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the previous year, the business earned $0.84 earnings per share. Parsons's revenue for the quarter was down 5.1% on a year-over-year basis. On average, equities analysts anticipate that Parsons Corporation will post 3.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Truist Financial lifted their price target on shares of Parsons from $80.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Raymond James Financial upgraded Parsons from a "market perform" rating to a "strong-buy" rating and set a $90.00 target price on the stock in a research note on Tuesday, July 8th. Bank of America lowered their price target on Parsons from $100.00 to $95.00 and set a "buy" rating on the stock in a research report on Tuesday, June 3rd. Baird R W raised Parsons from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Finally, Stifel Nicolaus began coverage on shares of Parsons in a research report on Tuesday, June 24th. They set a "buy" rating and a $81.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Parsons currently has an average rating of "Buy" and an average target price 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.