Nexpoint Asset Management L.P. Invests $1.91 Million in Parsons Corporation $PSN

Key Points

• Nexpoint Asset Management L.P. has invested approximately $1.91 million in Parsons Corporation, purchasing 32,288 shares during the 1st quarter.
• Parsons Corporation reported $0.78 EPS for the quarter, surpassing estimates, but faced a 5.1% revenue decline compared to the previous year.
• Analysts predict a moderate buy rating for Parsons, with a target price of $88.70, reflecting a mix of "buy" and "hold" ratings from 13 analysts.

Nexpoint Asset Management L.P. acquired a new position in shares of Parsons Corporation (NYSE:PSN - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 32,288 shares of the company's stock, valued at approximately $1,912,000.

Several other institutional investors also recently modified their holdings of the company. First Command Advisory Services Inc. bought a new stake in shares of Parsons during the 1st quarter worth about $385,000. Vanguard Group Inc. boosted its holdings in shares of Parsons by 8.2% during the first quarter. Vanguard Group Inc. now owns 4,952,299 shares of the company's stock worth $293,226,000 after acquiring an additional 376,764 shares during the period. New York State Teachers Retirement System boosted its holdings in shares of Parsons by 1.8% during the first quarter. New York State Teachers Retirement System now owns 11,317 shares of the company's stock worth $670,000 after acquiring an additional 200 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Parsons by 5.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 446,931 shares of the company's stock worth $26,463,000 after acquiring an additional 21,709 shares during the period. Finally, Deutsche Bank AG boosted its holdings in shares of Parsons by 34.7% during the first quarter. Deutsche Bank AG now owns 41,869 shares of the company's stock worth $2,479,000 after acquiring an additional 10,776 shares during the period. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Parsons Price Performance

Shares of NYSE:PSN opened at $73.99 on Friday. The company has a market cap of $7.90 billion, a price-to-earnings ratio of 33.03, a PEG ratio of 4.15 and a beta of 0.63. 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 has a 50 day simple moving average of $76.64 and a 200 day simple moving average of $68.27. Parsons Corporation has a one year low of $54.56 and a one year high of $114.68.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Baird R W raised shares of Parsons from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 7th. Truist Financial boosted their price objective on shares of Parsons from $80.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Stifel Nicolaus began coverage on shares of Parsons in a report on Tuesday, June 24th. They set a "buy" rating and a $81.00 price target for the company. Robert W. Baird raised shares of Parsons from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $78.00 to $92.00 in a report on Thursday, August 7th. Finally, Bank of America cut their price target on shares of Parsons from $100.00 to $95.00 and set a "buy" rating for the company in a report on Tuesday, June 3rd. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target 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.

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