Keybank National Association OH Decreases Position in Parsons Corporation $PSN

Key Points

• KeyBank National Association OH cut its Parsons stake by 73%, selling 243,519 shares in Q4 and holding 90,136 shares valued at about $5.57 million after the sale.
• Parsons reported mixed Q1 results with an EPS beat ($0.79 vs. $0.70) and a record backlog of $9.3B (book-to-bill 1.4x), but revenue missed expectations at $1.49B and was down ~4% year-over-year.
• Analysts have trimmed targets (e.g., UBS to $95, Citi to $65) yet the consensus remains a Moderate Buy with a price target of $78.17.

Keybank National Association OH cut its position in Parsons Corporation (NYSE:PSN - Free Report) by 73.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 90,136 shares of the company's stock after selling 243,519 shares during the period. Keybank National Association OH owned approximately 0.08% of Parsons worth $5,570,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PSN. AQR Capital Management LLC raised its holdings in Parsons by 151.5% in the second quarter. AQR Capital Management LLC now owns 1,061,614 shares of the company's stock worth $75,173,000 after buying an additional 639,481 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in Parsons in the third quarter worth about $38,880,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Parsons by 44.7% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,032,760 shares of the company's stock worth $85,636,000 after purchasing an additional 318,841 shares during the last quarter. Kettle Hill Capital Management LLC raised its stake in shares of Parsons by 295.9% in the third quarter. Kettle Hill Capital Management LLC now owns 373,180 shares of the company's stock worth $30,944,000 after purchasing an additional 278,919 shares during the last quarter. Finally, Artisan Partners Limited Partnership raised its stake in shares of Parsons by 10.3% in the third quarter. Artisan Partners Limited Partnership now owns 2,331,921 shares of the company's stock worth $193,363,000 after purchasing an additional 217,342 shares during the last quarter. 98.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PSN shares. UBS Group decreased their price target on Parsons from $104.00 to $95.00 and set a "buy" rating for the company in a research note on Thursday, February 12th. Zacks Research upgraded Parsons from a "strong sell" rating to a "hold" rating in a research note on Monday, April 13th. KeyCorp cut Parsons from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, April 14th. Robert W. Baird restated a "neutral" rating and issued a $60.00 price target on shares of Parsons in a research note on Monday, April 13th. Finally, Citigroup decreased their price objective on shares of Parsons from $70.00 to $65.00 and set a "buy" rating for the company in a report on Thursday. Nine equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Parsons presently has a consensus rating of "Moderate Buy" and a consensus price target of $78.17.

Parsons Stock Up 0.3%

Parsons stock opened at $50.43 on Friday. The stock has a market cap of $5.34 billion, a PE ratio of 24.13, a price-to-earnings-growth ratio of 1.57 and a beta of 0.73. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.75 and a current ratio of 1.75. Parsons Corporation has a one year low of $49.38 and a one year high of $89.50. The stock has a fifty day moving average of $56.93 and a 200 day moving average of $67.75.

Parsons (NYSE:PSN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.70 by $0.09. The company had revenue of $1.49 billion during the quarter, compared to analysts' expectations of $1.50 billion. Parsons had a return on equity of 11.52% and a net margin of 3.62%.Parsons's revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 earnings per share. As a group, sell-side analysts predict that Parsons Corporation will post 2.99 EPS for the current year.

Key Stories Impacting Parsons

Here are the key news stories impacting Parsons this week:

• Positive Sentiment: EPS beat and margin/EBITDA strength — Parsons reported Q1 EPS of $0.79 vs. $0.70 consensus and posted a record adjusted EBITDA and expanded margins, supporting near-term profitability expectations. Parsons (PSN) Surpasses Q1 Earnings Estimates
• Positive Sentiment: Record backlog and book-to-bill — Total backlog rose to a record $9.3B (funded $6.6B) and book-to-bill was 1.4x in both segments, indicating healthy future revenue visibility. Parsons Reports First Quarter 2026 Results
• Neutral Sentiment: Guidance reiterated but revenue range slightly wide — Management reiterated FY26 guidance and issued revenue guidance of $6.5B–$6.8B (consensus ~ $6.7B), which keeps guidance intact but leaves room for execution risk. Parsons Reports First Quarter 2026 Results
• Negative Sentiment: Revenue miss and YoY decline — Q1 revenue was $1.49B vs. $1.51B expected and down ~4% year-over-year, a near-term headwind that limits upside despite the EPS beat. Parsons NYSE: PSN Misses Q1 CY2026 Revenue Estimates
• Negative Sentiment: Analyst price-target cut — Citi trimmed its PSN target from $70 to $65 (still a Buy), which may cap near-term upside and signals some analyst caution. Benzinga

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.

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