Parsons Corporation $PSN Shares Sold by Nomura Holdings Inc.

Key Points

• Nomura Holdings Inc. reduced its stake in Parsons Corporation by 14% during the first quarter, now owning 0.13% of the company, valued at approximately $7.99 million.
• Analysts have shown increased confidence in Parsons, with several upgrades leading to a consensus target price of $88.70 and a majority rating of "Moderate Buy".
• Parsons reported a net margin of 3.70% and earnings per share of $0.78 for the last quarter, slightly beating estimates despite a revenue decline of 5.1% year-over-year.

Nomura Holdings Inc. decreased its stake in shares of Parsons Corporation (NYSE:PSN - Free Report) by 14.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 134,886 shares of the company's stock after selling 21,975 shares during the quarter. Nomura Holdings Inc. owned about 0.13% of Parsons worth $7,987,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PSN. Versant Capital Management Inc bought a new position in shares of Parsons during the first quarter worth $27,000. Quarry LP bought a new position in shares of Parsons during the fourth quarter worth $30,000. UMB Bank n.a. boosted its position in shares of Parsons by 238.7% during the first quarter. UMB Bank n.a. now owns 552 shares of the company's stock worth $33,000 after acquiring an additional 389 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Parsons by 1,803.4% during the first 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 raised its stake 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 in the last quarter. Institutional investors own 98.02% of the company's stock.

Parsons Trading Up 2.3%

Shares of NYSE PSN traded up $1.66 during mid-day trading on Friday, reaching $75.56. The company had a trading volume of 1,110,445 shares, compared to its average volume of 1,369,492. The business's 50-day moving average is $76.64 and its 200-day moving average is $68.27. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.47. The stock has a market cap of $8.07 billion, a price-to-earnings ratio of 33.73, a price-to-earnings-growth ratio of 4.15 and a beta of 0.63. Parsons Corporation has a 52 week low of $54.56 and a 52 week high of $114.68.

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PSN. Robert W. Baird raised shares of Parsons from a "neutral" rating to an "outperform" rating and upped their price target for the company from $78.00 to $92.00 in a research note on Thursday, August 7th. Baird R W raised shares of Parsons from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 7th. 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 research note on Tuesday, July 8th. The Goldman Sachs Group reduced their target price on shares of Parsons from $90.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, June 4th. Finally, Truist Financial increased their target price on shares of Parsons from $80.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average 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.