Parsons Corporation $PSN Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its position in Parsons Corporation (NYSE:PSN - Free Report) by 10.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,892,400 shares of the company's stock after acquiring an additional 179,463 shares during the quarter. Dimensional Fund Advisors LP owned about 1.77% of Parsons worth $102,494,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Swedbank AB raised its position in shares of Parsons by 654.7% in the fourth quarter. Swedbank AB now owns 1,052,541 shares of the company's stock valued at $65,047,000 after buying an additional 913,079 shares during the last quarter. Bastion Asset Management Inc. acquired a new position in Parsons during the fourth quarter worth about $8,044,000. SG Americas Securities LLC grew its stake in Parsons by 771.0% during the 4th quarter. SG Americas Securities LLC now owns 31,033 shares of the company's stock valued at $1,918,000 after acquiring an additional 27,470 shares in the last quarter. Royce & Associates LP acquired a new stake in Parsons in the 4th quarter valued at about $5,006,000. Finally, Hsbc Holdings PLC acquired a new stake in Parsons in the 4th quarter valued at about $1,853,000. 98.02% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Parsons

In related news, CEO Carey A. Smith purchased 12,500 shares of the company's stock in a transaction on Friday, May 8th. The stock was acquired at an average cost of $49.97 per share, for a total transaction of $624,625.00. Following the completion of the transaction, the chief executive officer directly owned 575,376 shares in the company, valued at approximately $28,751,538.72. The trade was a 2.22% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mark Keith Holdsworth purchased 10,000 shares of the company's stock in a transaction on Tuesday, May 12th. The shares were bought at an average price of $51.27 per share, with a total value of $512,700.00. Following the completion of the transaction, the director owned 39,918 shares of the company's stock, valued at approximately $2,046,595.86. The trade was a 33.42% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 32,500 shares of company stock valued at $1,637,325 over the last 90 days. 1.31% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PSN. Citigroup boosted their target price on Parsons from $65.00 to $66.00 and gave the stock a "buy" rating in a report on Wednesday, July 1st. Jefferies Financial Group reaffirmed a "hold" rating on shares of Parsons in a report on Wednesday, July 8th. Zacks Research raised 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 report on Tuesday, April 14th. Finally, Robert W. Baird reaffirmed a "neutral" rating and issued a $60.00 target price on shares of Parsons in a research note on Monday, April 13th. Nine equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $75.82.

Parsons Price Performance

NYSE:PSN opened at $61.86 on Wednesday. Parsons Corporation has a 52 week low of $46.88 and a 52 week high of $89.50. The stock's fifty day moving average is $55.67 and its two-hundred day moving average is $58.58. The company has a market capitalization of $6.62 billion, a P/E ratio of 29.60, a P/E/G ratio of 1.87 and a beta of 0.66. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.55.

Parsons (NYSE:PSN - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.09. The business 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%.The company's revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 EPS. Equities analysts expect that Parsons Corporation will post 2.97 EPS for the current year.

About Parsons

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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