Fox Run Management L.L.C. Sells 3,207 Shares of Parsons Corporation $PSN

Key Points

• Fox Run Management L.L.C. reduced its holdings in Parsons Corporation by 17.9%, now owning 14,677 shares valued at approximately $869,000 as of its latest SEC filing.
• Several institutional investors have made significant changes to their stakes in Parsons, with Fifth Third Bancorp increasing its stake by 1,803.4% in the first quarter.
• Analyst ratings for Parsons have shown considerable optimism, with Raymond James Financial upgrading the stock to a "strong-buy" rating and a target price of $90.00.

Fox Run Management L.L.C. decreased its stake in Parsons Corporation (NYSE:PSN - Free Report) by 17.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,677 shares of the company's stock after selling 3,207 shares during the quarter. Fox Run Management L.L.C.'s holdings in Parsons were worth $869,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PSN. Freestone Grove Partners LP purchased a new stake in Parsons in the 4th quarter worth approximately $40,318,000. Mackenzie Financial Corp raised its holdings in shares of Parsons by 53.8% during the 1st quarter. Mackenzie Financial Corp now owns 1,084,288 shares of the company's stock valued at $64,201,000 after purchasing an additional 379,254 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Parsons by 8.2% during 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 in the last quarter. Primecap Management Co. CA bought a new position in shares of Parsons during the 1st quarter valued at $19,824,000. Finally, Two Sigma Investments LP raised its holdings in shares of Parsons by 118.5% during the 4th quarter. Two Sigma Investments LP now owns 443,986 shares of the company's stock valued at $40,958,000 after purchasing an additional 240,803 shares in the last quarter. Hedge funds and other institutional investors own 98.02% of the company's stock.

Parsons Price Performance

Shares of Parsons stock traded down $0.7580 during trading on Wednesday, hitting $77.9020. 319,236 shares of the company's stock traded hands, compared to its average volume of 1,395,002. 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 firm's fifty day moving average price is $74.11 and its 200 day moving average price is $67.97. Parsons Corporation has a twelve month low of $54.56 and a twelve month high of $114.68. The company has a market cap of $8.32 billion, a PE ratio of 34.78, a PEG ratio of 4.19 and a beta of 0.58.

Parsons (NYSE:PSN - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.78 earnings per share 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 period in the previous year, the business earned $0.84 EPS. The firm's revenue was down 5.1% on a year-over-year basis. Analysts forecast that Parsons Corporation will post 3.58 earnings per share for the current year.

Analyst Ratings Changes

PSN has been the topic of a number of recent research reports. Baird R W upgraded shares of Parsons from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 7th. Zacks Research upgraded shares of Parsons from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 14th. Stifel Nicolaus initiated coverage on shares of Parsons in a research note on Tuesday, June 24th. They issued a "buy" rating and a $81.00 target price on the stock. Raymond James Financial upgraded shares of 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. Finally, Robert W. Baird upgraded shares of Parsons from a "neutral" rating to an "outperform" rating and raised their target price for the company from $78.00 to $92.00 in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.70.

Parsons 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.