Northern Trust Corp Reduces Holdings in Parsons Corporation $PSN

Northern Trust Corp lowered its position in shares of Parsons Corporation (NYSE:PSN - Free Report) by 1.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 357,705 shares of the company's stock after selling 5,846 shares during the period. Northern Trust Corp owned approximately 0.33% of Parsons worth $21,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Roanoke Asset Management Corp NY increased its holdings in Parsons by 0.5% in the 1st quarter. Roanoke Asset Management Corp NY now owns 38,935 shares of the company's stock valued at $2,305,000 after purchasing an additional 200 shares during the last quarter. SW Investment Management LLC increased its holdings in Parsons by 38.9% in the 1st quarter. SW Investment Management LLC now owns 500,000 shares of the company's stock valued at $29,605,000 after purchasing an additional 140,000 shares during the last quarter. Ethic Inc. grew its position in Parsons by 5.1% in the 1st quarter. Ethic Inc. now owns 7,805 shares of the company's stock valued at $465,000 after acquiring an additional 378 shares in the last quarter. Aberdeen Group plc grew its position in Parsons by 19.2% in the 1st quarter. Aberdeen Group plc now owns 16,293 shares of the company's stock valued at $965,000 after acquiring an additional 2,624 shares in the last quarter. Finally, Neuberger Berman Group LLC acquired a new position in Parsons in the 1st quarter valued at about $532,000. Institutional investors and hedge funds own 98.02% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PSN shares. The Goldman Sachs Group dropped their target price on Parsons from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Wednesday, June 4th. Zacks Research upgraded shares of Parsons from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 14th. Jefferies Financial Group boosted their price target on shares of Parsons from $70.00 to $80.00 and gave the stock a "hold" rating in a research note on Wednesday, July 2nd. Stifel Nicolaus assumed coverage on shares of Parsons in a research note on Tuesday, June 24th. They issued a "buy" rating and a $81.00 price target for the company. Finally, Bank of America dropped their price target on shares of Parsons from $100.00 to $95.00 and set a "buy" rating for the company in a research note on Tuesday, June 3rd. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.70.

Parsons Stock Up 2.4%

PSN stock traded up $1.74 during trading on Friday, hitting $75.64. 656,192 shares of the company's stock were exchanged, compared to its average volume of 1,367,296. The business has a 50-day moving average price of $76.64 and a two-hundred day moving average price of $68.27. The stock has a market capitalization of $8.08 billion, a price-to-earnings ratio of 33.77, a PEG 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. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.47.

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

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.