Parsons Corporation $PSN Shares Bought by SW Investment Management LLC

Key Points

• SW Investment Management LLC increased its stake in Parsons Corporation by 13% in Q2, owning 565,000 shares valued at approximately $40.55 million.
• Parsons reported a net margin of 3.7% and revenue of $1.58 billion in its latest quarterly earnings, missing analyst expectations.
• The stock has received varying ratings from analysts, with a current consensus rating of "Moderate Buy" and a target price of $90.80.

SW Investment Management LLC increased its stake in Parsons Corporation (NYSE:PSN - Free Report) by 13.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 565,000 shares of the company's stock after buying an additional 65,000 shares during the period. Parsons comprises about 9.7% of SW Investment Management LLC's investment portfolio, making the stock its 6th largest position. SW Investment Management LLC owned approximately 0.53% of Parsons worth $40,550,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Parsons by 8.2% in the 1st quarter. Vanguard Group Inc. now owns 4,952,299 shares of the company's stock worth $293,226,000 after purchasing an additional 376,764 shares during the last quarter. Groupama Asset Managment bought a new stake in Parsons in the first quarter valued at about $136,183,000. Mackenzie Financial Corp increased its holdings in Parsons by 53.8% in the first quarter. Mackenzie Financial Corp now owns 1,084,288 shares of the company's stock valued at $64,201,000 after buying an additional 379,254 shares during the last quarter. Channing Capital Management LLC raised its stake in Parsons by 42.9% during the first quarter. Channing Capital Management LLC now owns 1,062,180 shares of the company's stock valued at $62,892,000 after buying an additional 319,133 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in Parsons by 7.6% during the first quarter. Royal Bank of Canada now owns 460,497 shares of the company's stock valued at $27,266,000 after buying an additional 32,666 shares in the last quarter. 98.02% of the stock is currently owned by institutional investors.

Parsons Stock Down 1.7%

PSN stock opened at $85.93 on Monday. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.47. Parsons Corporation has a fifty-two week low of $54.56 and a fifty-two week high of $114.68. The firm's 50-day simple moving average is $80.16 and its 200 day simple moving average is $72.33. The stock has a market cap of $9.18 billion, a PE ratio of 38.36, a price-to-earnings-growth ratio of 4.51 and a beta of 0.64.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PSN shares. Weiss Ratings reiterated a "hold (c+)" rating on shares of Parsons in a report on Wednesday, October 8th. Jefferies Financial Group lifted their price objective on shares of Parsons from $70.00 to $80.00 and gave the stock a "hold" rating in a report on Wednesday, July 2nd. Baird R W raised shares of Parsons from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 7th. Zacks Research raised shares of Parsons from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Finally, Raymond James Financial raised shares of Parsons from a "market perform" rating to a "strong-buy" rating and set a $90.00 price objective for the company in a research report on Tuesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Parsons has an average rating of "Moderate Buy" and a consensus target price of $90.80.

About Parsons

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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